Guy Spier Made Zero Trades in Q3 With 49% in Berkshire | Investor Playbook
Deep Values: Value Investing Deep Dives · Nov 10, 2026 · 20:02
Deep Values: Value Investing Deep Dives
Deep Values: Value Investing Deep Dives · Nov 10, 2026 · 20:02
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Guy Spier's Q3 2026 13F shows not a single buy or sell across seven stocks worth $144.3M, with 49% in Berkshire Hathaway. Learn why deliberate inaction is one of the hardest disciplines in value investing when markets reward constant activity.
• DeepValues app, a research team in your pocket: intrinsic value and margin of safety for any stock, reports down to the footnotes
• Is the market overvalued? The Buffett Indicator app
Android (Buffett Indicator & Shiller PE)
Chapters
(0:00) Quarter of Absolute Stillness
(4:03) The Architect of Rational Restraint
(6:26) Seven-Position Portfolio Architecture
(9:12) Ultimate Behavioral Statement
(9:53) Mechanics of Patience
(10:56) Valuation Constraints on Financials
(12:56) Decade of Cloning: Aquamarine vs S&P 500
(14:21) Volatility Reality: Anatomy of Extremes
(15:01) Mechanics of Patience
(18:00) Diagnostic Matrix: When Doing Nothing
(18:38) Intelligent Value Investor Toolkit
(19:20) Disclaimer
(19:36) Get the apps
DeepValues toolkit
• Run the numbers on any stock yourself, free
• Free Margin of Safety Weekly, every Saturday (guru moves, market temperature, the week's research; no account needed)
• Open-source research on 300+ companies
• Deep Value Intelligence, the multi-agent AI analyst
• Developer API and MCP server for your AI agents
Deep Value Intelligence audits the numbers behind the headlines with a Graham-Dodd / Buffett lens: valuation discipline, cash generation, balance-sheet safety and return on capital. Don't guess. Calculate.
Podcast (Deep Values): Spotify · Apple Podcasts
Disclaimer: educational and research content only. Not investment advice. Based on public sources that may be revised or interpreted differently. Do your own due diligence.
#WarrenBuffett #ValueInvesting #Investing
Original sources
Episodes: Deep Values: Value Investing Deep Dives
