A Viral Market Update XIII: The Strong (FANGAM) get stronger

[@Jay-wp7kh]

Can't believe him provide this in-depth analysis for free. What a legend !

[@AswathDamodaranonValuation]

Check out the spreadsheets. I have added the option to change the riskfree rate to a number different from today’s number after year 10. I decided to use it and adjust the risk free rate to 2% after year 10, giving me the freedom to also set the growth rate to 2% after year 10.

[@joeyfrenette5481]

How did you determine the sales to capital ratios for each?

[@LuEdPaDo]

Hi professor, might be a bit too late but I noticed that in your MSFT spreadsheet, 'Stories to Numbers' sheet, next to the Reinvestment assumption you wrote "Maintained at Boeing's current level". Probably just a small mistake and from what I can see the inputs for MSFT are correct, but I guess it's worth checking.

[@CheeseMan1391]

Never imagined the day I’d hear Aswath say “Fortnite”

[@karanarora28]

Thank you for taking the time to make content for all of us. Your statistic on how FANGMAN contributed to one fifth of the market cap change from 2010-2020 was insane, something I will share with my friends tomorrow.

[@BradKaellner]

The quality of analysis that you provide is top notch! Thank you for taking the time.

[@dameondeans3229]

Thank you for taking the time and effort to put this content out, for free, and on such a regular basis. Its appreciated!

[@SiddhantGoenka.Official]

this 27 minute video too involves us in the FANGAM participation, let's face it. we do spend 90/ of our day using FANGAM. Amazing insight sir. Beautiful insight

[@Chockalingamcom]

Aswath - Excellent analysis and calls. Your slide 21 is a succinct summary of your valuation and your trading call. I had valued Tesla close to 900 dollars and sold most of my positions but the Stock went on to double. I had made the call about Facebook being the value stock among the FAMANG. Glad to see that you have a similar view. These are interesting times....... when a stock split announcement creates a value of almost 200 Billion for Tesla, anything could happen. Money is just growing in trees for the new generation of investors!

[@Raphaelfrf]

Love your videos! I'm from Brazil, im learning a lot watching them. Thank you!

[@jagatdave]

He is best valuation subject expert professor india has..no w

[@jagatdave]

No 1

[@Vihaan_Germellu]

@@jagatdave India doesn't have him anymore 🙂 he is based out of US

[@jagatdave]

@@Vihaan_Germellu it is okk.....he is making india proud

[@marthawinata]

Thank you Sir for making your thinking process so transparent and easy to follow. Appreciate the update as always, especially with sharing 6 valuations in one video!

[@theharsh2005]

Thank you for the insight, Corporate CEO would pay thousands for such insight and depth. appreciated you putting it here for free.

[@paulmeyer1756]

Thanks for the analysis. I especially appreciate its clarity. Almost nothing that I hadn't thought of myself, but presented much more cogently than I would have been able to. Besides the possibility of additional push back or government regulation, I think these companies face two additional risks: first, that their relative revenues (and relative valuations) might decline if things get back to normal (the coronavirus is tamed); and second, that they would be hurt if there is a significant global depression. Thank you very much for making these videos public.

[@ceegee4875]

your micro analysis is second to none

[@akashmallick9253]

Damodaran sir is looking very young and healthy....... Very happy to see him... My role model... Anything i kknow about finance is because of him.......

[@jacksun8285]

Really appreciate your king share, Prof. Look forward to your next share related to TESLA, UBER and SHOPIFY.

[@gaifogel1]

Providing numbers and analysis, comparisons, data - thank you! Amazing

[@keshavbharti1201]

Last 5 minutes is the cruz. the decision to sell after 2trln mark. And decisions made after considering the valuations. Thanks Professor.

[@BMJC99]

Thank you so much for sharing all your knowledge. Truly inspiring.

[@jahouser6273]

The trend is your friend factor. Thank you sir.

[@buckmanriver]

Mind-blowing! And Dr. Aswath I think you undervalue the hold AWS has on so many internet firms. The retail part of Amazon could slow or shrink in size and value. However, thousands of firms depend on their cloud to support their business will not move. Thus, I see AWS as Amazon's cash machine. Long term I think they will grow substantially.

[@valentinmanes9167]

Amazon growth was set to 20%. It's already extremely high. Using AWS directly in my work, I can attest to its overwhelming role as today infrastructure backbone. However, I feel like this was taken into account in this valuation.

[@rohanjhaveri1]

Thank you for taking time out and making these informative videos! Much appreciated.

[@mikeloubardeas2912]

Awesome update. Thanks for the full disclosure of buy / sell decisions. Love to see your conviction in the process and putting your money 💵 where your mouth is 🤑. Professor putting his theories into practice! 👍

[@JPSGShow]

God damn it Aswath your videos are fantastic

[@luxushauseragency]

Well presented. Must be a new trend that people are not filling the screen with their face in close up and instead, they fill the screen with useful information.

[@xgum]

THIS

[@ftyjfox7416]

You are so genuine. Thanks for sharing the market updates!

[@sanketmarutiraosonawane9519]

A big thank you. Your lectures have taught me about some US stocks.

[@rockysullivan882]

Would love to hear a viral market update on the Hospitals/Healthcare facilities Industry. No doubt this crisis has impacted hospitals/healthcare providers much differently than during the 2008 financial crisis.

[@josecarvalho2711]

Hi, Is anyone getting the spreadsheets? When I press the links nothings happens :( And thank you so much Professor Aswath Damodaran. Your classes are simply fantastic.

[@dm17nc17]

On google I see in the 10K operating lease commitments but its marked no on the spreadsheet, what am I missing? Also surely they have employee stock options but marked no as well.

[@AswathDamodaranonValuation]

In 2019, changes in accounting rules required that Google treat lease commitments as debt. If I capitalized leases and added them on, I would be double counting.

[@john-tr8jy]

Great lessons as usual. Investors should not beat themselves up for selling too soon as long as the decision was made with sound logic/data/for personal-finance reasons. It's impossible to know how much more stocks will climb or fall.

[@rajeshshekar9954]

Excellent analysis Sir,Very nicely presented and was quite easy to understand..Thanks for sharing your insights Sir...

[@pedromachado6198]

Hi damodaran, I'm from Brasil and I am here to say thank you, for your work

[@inforneer]

Thanks for sharing this valuable information!!

[@shivashakthi1918]

Great Analysis..The best of the best..

[@bakwas4508]

Can you please share your thoughts on valuing conglomerates like Berkshire Hathaway? Thanks

[@MrConguiano]

Thanks for the analysis professor, always very insightful. Greetings from Brasil.

[@iCorlitotv]

Thank you professor for such an insightful presentation!

[@tvofferdatv1537]

Thanks for your big informations and analyses

[@pierreh9375]

Dr Damodaran, thank you for this video. Earlier in the pandemic you gave a few investment strategies and Excel docs with some companies you had chosen. Are there updated lists and/or strategies you would go with seeing how things have evolved?

[@VipulVaibhaw]

Amazing video sir. Learnt a lot.

[@simonweiguny]

24:00 Aswath becoming the Darth Vader of analysis ^^

[@eunicelee7489]

Thank you for such an indepth lecture!

[@alphabeta01]

Dr Damodaran, on your first slide, FANG stocks are Facebook, Amazon, Netflx and Google. I think there is a typo on your slide.

[@kajet666]

Yes! and I'm like "wait, has Apple split into Apple and Apple all of a sudden"?

[@Apollo2112x1]

Thanks for the continued updates professor.

[@SinisaStojanovic]

As always, Thank you, Professor!

[@amarjeetpawar4006]

Great recap on the FANG(AM)!! Thank-you!

[@bidorcheng]

Great info. You are so very humble

[@rockysullivan882]

Please do a valuation of HCA Healthcare.

[@하이-j4h4q]

Honorable for your Insight.

[@AlokMoghe]

As always, thank you Professor

[@sanjibanichoudhury7517]

Superb analysis

[@sunflowerblue6297]

0:11 -There is an error. The third item on your list is: ''Fang (Facebook, Apple, Netflix and Google) ... and Apple and Microsoft.'' I think you wrote Apple twice by mistake. (instead of Amazon.)

[@JoJo-wv3se]

This is great talent donation and share👍

[@suryaprakashdama575]

Awesome insights, as always.. Thank you sir!

[@chrisrosch4731]

underrated af channel

[@mikefeir]

What do you think about the upside in DIS at current market cap?

[@huikaicai3834]

Awesome Video

[@christianstoyanov2501]

Why would someone consider biotech capital light? Shouldnt the huge R&D cost make it pretty heavily dependent on capital, despite most biotech firms having their R&D financed from the outside.

[@brendansmith7842]

Great video sir, a different stock but im curious of your opinion on nvidia at these levels, i remember on cnbc you had bought the stock at around 145.

[@RajVaswaniRox]

Thank your for sharing your candor views.

[@jmanalas]

Professor - are you rotating into any particular stock/sector or parking profits in cash?

[@ankurperiwal9704]

Just wanted to say thank you for this content :)

[@issenvan1050]

What is your opinion on the gold stocks, Sir?

[@midunisha]

Sir, please detail video - how to calculate Turnover declaration for filing the income Tax (intra, Delivery, future & option) because auditors are not giving proper details, they simply say intraday buying +selling is the turnover and it's cross limit of one crore it's termed as tax audit, so demanding high charges. (18-19 my intraday turnover 1.2 crore & my loss 2.6 lakhs)

[@rgirotto]

thanks for sharing professor!

[@user-yh8wp2ic6o]

Thank you Professor!

[@AlessandroOrlandi83]

Thank you very much, great video!

[@pedromachado6198]

You helped me a lot

[@varunagrawal962]

Amazing Presentation !! Will love to hear views on Semiconductor/tech cos i.e Nvidia, AMD, Intel and maye Qualcom as well.

[@zdmsr]

The absence of the value investing reckoning for these companies may be due to the nature of this crisis - more people rely on their services due to the crisis. I have a hard time imagining a crisis that would have the opposite effect - maybe a solar flare? Even then the flexibility of the FANGAM companies would leave them as winners in that scenario also. Overall I agree with your valuation except for Facebook and Microsoft. Facebook's user base is losing its engagement and a 10% revenue growth seems high. Even with a growing user base with increased internet access, I fear they are not nearly nimble enough to break into new business spaces. Microsoft is making huge strides in Business Intelligence that will have a massive impact on its revenue growth. I see it as right valued, perhaps a bit under.

[@lonestarkustomz]

Zuckerberg is trying to get congress to approve their plan for digital currency (Libra). Creating a platform for a new social media economy, might be a way fb can stay nimble.

[@lonestarkustomz]

Will Apple still be overvalued, even after the 4-1 split?

[@submariner55]

It will be, when it hits 300 after split

[@Buythedeep]

Thanks, professor

[@lucianosoar]

just bought your book narrative and numbers here in Brazil using Amazon. Two rationals: to have this great book in my bookshelf and as a way to compensate you somehow for the wisdom you share for free (courses, blog, channels etc)....just curios about how much gets in your pocket out of the only 26 USD equivalent i paid here :-))

[@dfmoscon]

Something ia wrong when sectors like banking, energy and even real state are not doing well.

[@jiazhenxu576]

thanks professor

[@MarieCrossbow]

Amazing that some people thought that tech would go down more than others during pandemic hit. The revisionism is crazy as well.

[@brendansmith7842]

Historically tech goes down the most in corrections. Tech went down a lot, but came back much faster. Even during the lows, valuations were much higher than previous crashes. Tech is much more resilient to the problems of the virus than like boeing , airlines or hotels which will have a lot of trouble in the future.

[@davides3858]

thanks prof

[@john-tr8jy]

Is this the pedagogy for your B-School courses. If so, this is the caliber of teaching that needs to be standard in all school levels. That being said, this caliber will cost $$$. Sounds like a lot of praise, but teaching quality does matter

[@khaledf3977]

Thanks.

[@k0zzu21]

Microsoft is viewed as the most virtuous, because it unfortunately is. It's the only company that allows control over your data and doesn't force you into a monopoly. It has also taken a huge shift towards open sourcing software and embracing partnerships with other software providers. This doesn't mean that Microsoft is anything close to a virtuous company, but its a much more consumer and competition friendly company now than 20 years ago.

[@erdalisikdemir4847]

love you

[@goldreserve]

Apple now has a market cap greater than the GDP of Canada, Australia, Russia, Brazil.

[@bobsmith2886]

Fed pumped up a stock market bubble

[@MarieCrossbow]

The N should be Nvidia, Netflix isn't a tech company.

[@brendansmith7842]

I know he bougbt nvidia in the 140 range curious to hear his thoughts here

[@necromancer7712]

great analysis, one the final slide regarding valuations, I agree with you on all companies. I owned one though which was Facebook and sold it around 240, regret it now. Now. am 130% long on Berkshire. Can you give an update on Tesla? I know it hurts , you have bought it and sold it later I believe. Would like your thoughts on crazy TEsla. thanks

[@necromancer7712]

Also would be highly appreciated if you could do analysis on financials. lower yields hurt the business but the sector looks quite cheap to me. However, famous saying always lingers on my ear " Markets can stay irrational longer than you can stay solvent." _ keynes

[@멀다고하믄안되가꾸나]

황금같은 강연인데 알아들을수가 없내,,,ㅉ

[@daveschmarder-US1950]

I'm still waiting for this reversion to the mean. Fortunately, I don't listen to myself. I own funds only and MGK has been super. Lots of unrealized cap gains. I know I should sell a bit of it, and almost did the other day. I'm usually best off if I don't touch anything.

[@cycliscs]

Ironically, FB is the most hated company among the six you can own, which is another factor that explains it is currently undervalued because of Cambridge Analytica. If Democrats take back the White House in Nov, it will be a more friendly regulatory and PR environment for FB. It will not take long for the stock to break out to the upside. AMZN's dominance in E-commerce is being seriously challenged by Ebay, Wayfair, Walmart, OSTK, Target, and even CHEWY. Now the Prime Video is going to meet Netflix, Disney and HBO for competition. It is not surprise that Jeff Bezos has sold out a chunk of his holdings. I think we will see its decline relatively sooner than the others. However, their defense contracts with Pentagon can become a new north star for their cloud and big data service, which makes valuation tricky in these national military projects.

[@k0zzu21]

I thought the 10 billion DOD/Pentagon contract was signed with Azure, not AWS?

[@cycliscs]

Are you aware that Amazon just opened a HQ2 in Virginia near those DoD departments?

[@k0zzu21]

@@cycliscs No, but I checked and it's still undecided according to official information. Do you have some insider information that it is definitely Amazon?

[@davidroberts6774]

[@petecheng1]

FANGAM = Facebook, Amazon, Netflix, Google, Apple and Microsoft.

[@himanshujain2873]

Sir can you value a indian company Because I'm having difficulty to valuing the indian company. Please sir help me with this problem sir

[@DailyDoseOfRandomYouT]

Who is that three fools who dislike this ?

[@oluwafemilawal4020]

Who dislikes these videos?!

[@atun77]

Absolutely love your analysis on markets, in historical context and current status, also your valuations. BUT, your timing is terrible, selling Tesla 3X earlier is not a good call, lol and AAPL is making new highs everyday. Buy and hold, not trade might have worked out better for you Prof!

[@buysellholdfinance9276]

You are too conservative in your models. I looked at a lesson in your class where your base case growth for growth companies is 5 years.That is laughable.

[@non5309]

когда веришь в индустрию и просто купил QQQ вместо того чтобы гадать лидеров отрасли