Modern Value Investing in a Winner Take All World | Aswath Damodaran

[@andreasdymasius5926]

I've never commented on a KZbin video before, but this time I have to. You guys just had an amazing session with Prof. Damodaran. I learned a lot from every answer he gave. Keep up the good work!

[@ExcessReturns]

Thank you! We really appreciate you taking the time to make your first comment on one of our videos. We loved having Aswath on. We hope to do it again some time.

[@foresthill8462]

Geez, how is every second sentence out of his mouth a quote? Wisdom just pours out of him. Amazing guy!

[@ExcessReturns]

It is really amazing!

[@foresthill8462]

@@ExcessReturns and credit to you guys for asking good questions and then letting him speak without interrupting. Very good interview, thank you

[@Otto72ish]

He's overrated. Interesting ideas about where companies are in their lifecycles. Mostly waffle about valuations.

[@stephenh4939]

What an extraordinary intellect! I could listen to Prof. Damodaran for hours. Especially love his direct manner.

[@ExcessReturns]

Thanks for watching! We agree.

[@CameronFussner]

Sometimes Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.

[@RaybellarayRay]

Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin ,While also continuously learning from mistakes and improving

[@CharlesArthur-fq5sx]

Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, and save for retirement.

[@BernardFrederick-tk7un]

After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.

[@Bellaelena549]

Market behaviour can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?

[@BernardFrederick-tk7un]

The decision on when to pick an Adviser is a very personal one. I take guidance from Annette Marie Holt to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.

[@paulaallen4106]

As an active investor for 40+years, this interview is pure gold. One of the best.

[@ExcessReturns]

Thank you!

[@mgowhar]

That dog in the BG slept like a good baby for more than an hour. A few twists and turns but zero interruptions. Very well mannered! Kids like that would be a treat.

[@ethelbertt]

There are a lot of companies out there that can power through recession and hardship periods, I'm just a fan of buying into moat heavy, cash flow grantors, buy on dips, and add as they drop, and enjoy the bull markets when they happen.

[@MackThebuilder-h4k]

As always, it’s absurd when people call stocks momentum a flunk, they aren't considering the long run. The companies themselves have not changed, it's the market that keeps changing. Steady as it goes, and it'll regroup in weeks.

[@kenderdine7886]

I need the market to go down some anyway. The small pullback at the beginning of the month wasn't enough. Many are overpriced now and buffet sold his. I was looking for a rough setback as I am eager to capitalize on the market.

[@Msmelissa-u1w]

nibbling on heavy red days has proven to be fruitful for me, these days I’m extremely attentive we are entering an unusual market (distort) economy. That doesn't mean that you can't unravel opportunities in every sectors, you can but you should be considering rewarding options to 10x in excess like adding Gold. It would be a vast awareness to align under a top performer for easy earning picks. I did the same and it works.

[@kenderdine7886]

well it seems like a lot of your interest is riding on your source, I could really get well accustomed to your viewpoint, get me involved.

[@Msmelissa-u1w]

Oh very well then, all props to Margaret Ann Myatt, her name, and resourceful stock wits structures my holdings quality merits.

[@bondhuami5427]

Such a fabulous and insightful commentary by Prof. Damodaran. It seemed like few minutes for the 1 hour video. Words of wisdom and knowledge from the amazing man.

[@ExcessReturns]

Thank you for watching!

[@alfredthevarajah1344]

This man is a legend.

[@anandp3991]

Excellent interview. Just ordered his book as I heard this.

[@ExcessReturns]

Thank you!

[@bananaskin7527]

I like what he said. And his educated humility. Observe, respond, and cross your fingers. And don't forget your day job (that includes the organics around you), and disposable income. Good stuff. Thank you.

[@zarifhassan2184]

What a wonderful soul Aswath Damodaran is! His life philosophy replicates his valuation philosophy which made him more authentic

[@ExcessReturns]

We really enjoyed having him on!

[@hello-4229]

first time listening him and I took notes what he said and had a huge impact on me. I will definitely check his books also I like to say thank you both of you treating guest with an right manner .

[@ExcessReturns]

Thank you for watching!

[@77magicbus]

Fantastic interview. I love the insight Aswath offers about spending less time consuming data and information and spend more time thinking and observing the world we live in. Thanks

[@ExcessReturns]

Thank you!

[@WhaleEye-r4e]

He is SO RIGHT about the value investing cult that exists around Berkshire and the like. It's the same with the Bogleheads forum. I once tried to post something on the Bogleheads forum that the moderator disagreed with and she refused to post it because she said she didn't like my email address name.

[@bhaskartripathi8758]

The professor's talk is so mesmerizing with such an out of box thinking!

[@jeffreyharrison4045]

Loved this episode! Just subscribed here and purchased 2 of his books! Fascinating gentleman

[@ExcessReturns]

Thank you!

[@trainingwood]

Mr. Aswath is a genius I really enjoyed this podcast, brilliant.

[@ExcessReturns]

Thank you!

[@tristianlamb]

My very first time commenting on a video here, this interview makes me realise that In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.

[@HarryGaye-y7h]

If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.

[@pentagon1985]

You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £760k in 2023 under the tutelage of my Fiduciary-counsellor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

[@christian-x6r4h]

I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

[@pentagon1985]

Rebecca Lynne Buie is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@christian-x6r4h]

This reference seems valid.. Just looked up her full name on my browser and found her website without sweat, over 15 years of experience is certainly striking! very much appreciate it

[@MichaeldeSousaCruz]

Yes! Yes!! Yes!!!! One of my absolute favorite people to listen to. “An empty mind is where those connections happen.” Exactly!! There are a lot of minds out there that have been fuddled with all sorts of nonsense for years and years… empty that mind!

[@malaybasu961]

This is one of the best interviews I watched on KZbin. Prof. Damodaran is a wise man. It shows and you guys conducted the interview wonderfully! Keep up the good work. His parting words are truly inspiring. “Live your life”!

[@ExcessReturns]

Thank you!

[@AshleeCurl]

Given the persisting global economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.

[@antonyc09]

The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.

[@puppetzone-y9b]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

[@grecia-kk7ci]

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

[@puppetzone-y9b]

I definitely share your sentiment about these firms. Finding financial advisors like Jane Nina Pickett who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@grecia-kk7ci]

I found her outstanding and excellent resume when I made a research of her full names online. I count it a gift that I went over this remark.

[@AGNESCHANG-u9h]

I've just begun learning about value investing, and I've found that many good stocks are undervalued despite their intrinsic value. If you had $200,000 to create a strong investment portfolio, which stocks would you choose for better returns?

[@PauleAraiza]

I think a good investment portfolio should have three basic things: ETFs for diversification, dividend stocks for cash flow, and leading tech stocks. With your budget, it's a good idea to talk to a fiduciary financial advisor for expert advice.

[@carolynrose1816]

I think a good portfolio should have three basic things: ETFs for diversification, dividend stocks for cash flow, and leading tech stocks. With your budget, it's a good idea to talk to a CFA for guidance.

[@AddilynTuffin]

I agree with you. As an early investor in NVDA, AVGO, ANSS, and PLTR, my financial advisor's advice was incredibly helpful. Over the past 7 years, she has helped me find stocks that did 10x multiple times. With her help, I've grown my portfolio to over a million dollars.

[@Dollrnri]

I'm glad I found this conversation. I have cash to invest but am worried about picking the wrong stocks. Can you refer me to your advisor?

[@AddilynTuffin]

Jennifer Leigh Hickman is the advisr I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.

[@spg6651]

Very Profound discussions.. Great talk by ASHWATH DAMODARAN .. In Many ways these are eye opener for me .. Thanks a lot

[@Bobventk]

“Why would you expect to take anything off the table with factor investing?” We don’t. We are just investing in riskier stocks

[@ajits9390]

Pure wisdom. Thanks for uploading this video.

[@ExcessReturns]

Thank you for watching!

[@jgorti74]

Clear views no beating around the bush, always look forward to hearing his views

[@Snair1591]

This video was splendid! I have been watching Prof's other videos lately associated with his book but this one stood out. Questions were good and I think it drove to bring out some extraordinary wisdom from him. Great job and truly insightful.

[@ExcessReturns]

Thank you!

[@KrishnanRamachandran-z9b]

Excellent session - loved the questions and Aswath's responses - I would also share that there were too many advertisements that became annoying - It is necessary for monetizing the content but can be tuned to not be excessive...

[@miller1240]

The insight into $TSLA articulates my thoughts exactly.

[@shaikhasif3853]

The best part what Aswath Damodaran is reflecting is not about the numbers only (Financial models and so on), but what is the story (narrative) and the business model the organization is operating on, which need to be precisely communicated.

[@srin937]

What a wonderful discussion and answers so powerful and in your face in a good way. Ashwath Damodaran did hit multi baggers in this actually!

[@ExcessReturns]

Thank you!

[@murlimenon2291]

Just past 4 am and i just couldnt stop this video. What an enthralling session !!! wow... it just felt so good. Loved the last part and i admit that we admire riches, but never learn the value of wealth. Excess returns guys!!; thank you for this upload. You guys will grow from this 18.9 k subscribers if you can keep such content coming.. Good luck!!

[@ExcessReturns]

Thank you!

[@mathieudestrian7543]

Outstanding interview. So insightfull!

[@ExcessReturns]

Thank you!

[@KaRe77]

Amazing podcast!!

[@ExcessReturns]

Thank you!

[@henrybuonaparte]

Amazing guest, thank you!

[@ExcessReturns]

Thank you for watching!

[@gSizzzzle]

One of my favorite people to listen too

[@ExcessReturns]

Ours too. Thank you for watching!

[@MultiCanEman]

Damodaran should prove his claims by setting up an investment company and demonstrate it works in real life which is what Buffet did.

[@Dr.jp113]

Hard to argue with this comment spot on... those who can't do teach... but listening to someone who obviously has experience and knowledge for free costs you nothing and ultimately you can take what you want from this and use it to help you

[@tobiasgreen3576]

He is not.claiming he can beat the market. Admits that he actively manages his funds because he enjoys it.

[@WhaleEye-r4e]

Outstanding. Relative to his comments on people exaggerating when they boast about having read Benjamin Graham, don't forget that in order to demonstrate ones credentials in the church of "old time value investing" you must purchase and display a ridiculously overpriced used copy of Seth Klarman's "Margin of Safety" book.

[@HepCatJack]

Phillips Morris lasting forever doesn't mean they will produce cigarettes forever. Berkshire and Hathaway haven't produced textiles in a while.

[@edgibbs3229]

Aswath is a stud! Would love to take his class.

[@DavidLucas-so8rr]

I believe that, given the current volatility of the stock market, investors should be concentrating on undervalued companies. This is because, despite the devastation caused by the falling value of three-quarters of the stocks in my $270,000 portfolio, I have no idea where to go from these stocks.

[@EthanBrown_23]

During a recession, investors must understand where and how to distribute capital in order to hedge against downturns while being profitable. If you are unable to navigate the market, speak with an expert advisor.

[@Bridget-l7p]

Several individuals minimize the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.

[@Bako-b8j]

i'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

[@Bridget-l7p]

'Laurelyn Gross Pohlmeier' a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@RobertBrown..]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@henryterranauta9100]

💚💚💚💜💚💚💚Empty minds are rare and your advice is precious 💙💙💙💙💙💙💙 1:05:55

[@Why-How-WhatIF]

this was a master class. thank you!

[@ExcessReturns]

Thank you for watching!

[@jamesg2382]

Thanks, a really interesting interview.

[@ExcessReturns]

Thank you for watching!

[@ivonneg2671]

great interview, thank you!!

[@ExcessReturns]

Thank you!

[@mvexler]

Correction, the Maginot Line didn't fail because of the German air force attacks (a hypothesis...like many others) Here is the history...The Maginot Line was a series of fortifications built by France in the 1930s to deter invasions, particularly from Nazi Germany. It was designed to be a formidable defense, featuring advanced military technology and infrastructure. However, its strategic limitations became evident when Germany bypassed it by invading through Belgium, highlighting the risks of relying solely on static defenses in a dynamic environment

[@spg6651]

The essence is same -- out of the box thinking -- Whether air route or other ground route bypssing the static defense

[@Superbstrawman]

Wonderful interview.

[@ExcessReturns]

Thank you!

[@itskrox-johnochuro]

Amazing podcast! Very insightful 🎉

[@ExcessReturns]

Thank you!

[@HepCatJack]

On the subject of "fighting the last war" I remember reading about a short seller who had overlayed the graph of the crash of 1929 over the ongoing crash of 2007 using it as a guide to short the market and he did quite well. Jim Simon's Medallion fund sometimes made decisions based on historical patterns that it identified. Humans haven't changed so patterns heavily linked to the psychological makeup of humans ought to be repeatable. Hard to tell if algorithmic trading will allow this to persist when bots begin to outnumber humans.

[@jasonwhiteley3612]

Arguing Efficient market Hypothesis being correct & using fund managers failing to beat the index would not be a good example as fund managers will charge what their marketing team can charge.I would also argue that markets are more priced on Pyschology than EMH, with pricing it reflects a male psychology of overpricing risky companies in good times, which is not efficient or just taking in know information.

[@henryterranauta9100]

❤❤Great interview ❤❤❤❤Value investment is a vitue❤❤Damodoran, my heartfelt thanks ❤❤

[@derek3778]

it puzzles my mind that how someone with this much pedigree and reputation can be this real, like he just doesn't care about the fact that what he says could get many fake people very upset😅

[@gergelyovics]

Best ever thank you

[@ajaymahadik]

This was simply enlightening!

[@ExcessReturns]

Thank you!

[@ankurbrdwj]

these are golden insights rare video 👍

[@ExcessReturns]

Thank you!

[@ericchang7706]

Fantastic interview...Thank you

[@ExcessReturns]

Thank you!

[@geetha5037]

Phenomenal talk! Thank you 😊

[@ExcessReturns]

Thank you!

[@manuvns]

Aswath, what is your thoughts on Alibaba and Chinese stocks ?

[@ritwikism]

1:00:00 But it doesn't matter that Meta is being valued at only 5x of ad cash flow if all that cash flow is going to be dumped into the Metaverse aka literally getting burnt. How do you reconcile that?

[@emcardleinvest]

Great get, guys.

[@rl3945]

Fantastic!

[@ExcessReturns]

Thank you!

[@bananaskin7527]

Aha! Insight by Martin Gardner. It's kinda fun.

[@natemink572]

I love him but in one sentence he's talking about owning tesla stock at a 100x PE but then being afraid to walk into a Berkshire meeting because it's 'too rigid'. Come on man.

[@robs2579]

He’s a brain dead academic

[@TuxedoToledo]

You are making his point

[@robs2579]

@@TuxedoToledo your comment is redundant

[@CharlesHermite-l2x]

However, S&P 500 should not be considered as the single instrument that fits all need. it would be relatively safer to pair with some etfs with close relation to SG CTA/SG Trend Index if investors as retirees have to withdraw cash on monthly basis. It would be risky during drawdown peiod over a few months.

[@jimd1617]

thank you 🤝

[@ExcessReturns]

Thank you for watching!

[@vladifique]

12:24 Reminds me of Last Week Tonight's segment about McKinsey

[@arrywibisono6792]

thanks for last suggestion

[@mikethemouse396]

Resemble Izhak Adyses about age of the company and psychological profile of their managers

[@phil.i.p]

Wise words . . . end of!

[@lyndellmoore1696]

At the 26 Minute Mark he says: “Value investing is to rigid you must have a Margin of Safety says who!” The math says you must have a margin of safety otherwise you are not investing you are speculating. We value investors are looking for mathematical certainty, and Warren Buffett had some early investments with less than zero risk.

[@HepCatJack]

A bot trained on the data output of Aswath Damoran wouldn't necessarily be able to use the input he has received through life such as the books he has read and the questions he received from students over the years forcing him to make connections over the material or to think of something from a different perspective. It is said that people have two eyes and two ears but only one mouth so that we can listen and watch twice as much as we speak.

[@CultishCreative]

until otherwise proven, I am totally in agreement with you about the Aswath bot for all these reasons!

[@theWebWizrd]

His point about what he feared was more so that if the bot doesn't perform well it reflects badly on him as a teacher, since the bot has used everything his students could concivably use to learn from him. So either it's good and his *valuation* skills are now superfluous or it isn't and his *teaching* skills are questioned.

[@HepCatJack]

@@theWebWizrd sometimes a teacher can be bad and a student can still do well by learning from the recommended book(s) in the class. They find a way to learn the material despite the teacher. Some people learn by listening, some by watching and others by doing. It can be difficult to reach students in all available ways.

[@Bobventk]

He said several things that were wrong in this episode

[@up6031]

Any examples?​@@Bobventk

[@Bobventk]

37:25 - it just took me less than 2 minutes to look this up. From 01/01/1977 - 07/31/2024, the Dimensional Small Cap index averaged 13.97% per year and the S&P 500 returned 11.63% per year. Small caps over this period grew $1 a little bit more than 2.5 TIMES more than the S&P 500 did. I’m open minded, man. I really am. And I realize everyone is so hard pressed to comment how impressive and wise Domodaran is…. But the dude is on here just spreading blatant falsehoods.

[@dleeuss1997]

What about from 1981 to 2024

[@Bobventk]

@@dleeuss1997 every bit as meaningfully positive. I just ran the dates that he said.

[@joed9285]

@@dleeuss1997that’s gonna take a little longer to look up.

[@titusp9488]

Academic research and education are so very important and Aswath Damodaran has made amazing and historical values to this development on a global basis, BUT .... the fact Equity valuation and market returns are not consistently correlated; in other words, market return are very often too hot or too cold is a major fault of the market or investment process? Valuation is underestimating the actual growth, and the market also VERY OFTEN overvalues equities for a very long time. If you run a DCF on AAPL or SPX Index ... you would find it nonsensical. SPX is running at 25x, but earnings growth to be less than 10% makes no sense.

[@LakhwinderSingh-uy9fz]

Even his dog attending the great session.

[@susymay7831]

Warren Buffett is quite clear that is ways sre not the only ways to do well investing in stocks, or the only way to beat the market. BTW- buying Berkshire Hathaway as a dedades long investment is probably very savvy.

[@Thelastkeyboardwarrior]

Aswarth is one of the good ones, a model immigrant. Unlike the other ones

[@noahm2259]

What’s the book?

[@ExcessReturns]

It is called "The Corporate Life Cycle: Business, Investment and Management Implications"

[@Bobventk]

34:30 I’m sorry but this is factually inaccurate. The fama French factors exist internationally (and value has historically been even stronger internationally).

[@roobear5357]

I don’t think folks got rich with Berkshire are bemoaning the lack of debate

[@robertstory4163]

My only thing I will add, is that Warren is no longer a traditional value investor--I would say Charlie changed him to what I coined as a “Growth Investor with Value Investor Characteristics”. If he feels a company is “sticky” with long term durability--he will invest. I believe the Graham-Dodd dogma is all but gone in Warren.

[@phil.i.p]

Aha!

[@Crazyfootballguy]

I doubled down on Boot Barn at $9.

[@alexc5228]

This guy knows alot of theory and is a great lecturer but when it comes to practice he isnt a good investor. Not doubling down? No margin of safety? Really? Also owns tesla at ridiculous prices and says he was wrong on palantir (showing he let's prize action dictate his sentiment) he hated meta at November 2022 lows and made a mistake by sticking to that assessment and still is against meta leadership. Take this guy with a grain of salt he is a good lecturer and knows alot of theory but doesn't know how to apply it. Great educator but not investor.

[@robs2579]

I was going to comment here but you already hit all the points I wanted to, nicely articulated

[@alexc5228]

​@robs2579 thank you english is not my first language. Been listening to this guy for years and liked him at first but with time I see how he thinks as an investor and see people praising him in the comments. He is a great educator of theoris but not investor. Hence why I commented so that people don't mix the two. Have a great day!

[@jkj1459]

That’s normal human behaviour . Learn from someone and later back bite . Interesting that you spend years listening to him speak volumes about your hypocrisy . He never said he is an investor . He is a professor in college and he has excelled in what he does . And the knowledge he imparted grown exponentially so compare him as a stock he done his job

[@robs2579]

@@jkj1459 listening to someone else doesn't imply that you agree with them... I listen to things I disagree with constantly, it's about challenging your own pov and knowledge. You are small minded random internet friend, it's not hypocrisy in the slightest...

[@alexc5228]

​@@jkj1459what is normal human behavior is what you as an investor should avoid. Big money is not in following the crowd but thinking and making your own decisions and being able to separate from when the crowd is wrong and when right. What do you mean hypocrisy? Sometimes he reminds me of stuff I know and sometimes he is plain wrong. I am not saying he is wrong all the time but he is wrong alot and I see people praising him in the comments. That's why I commented so people don't follow everything he says. I don't listen to everything he says but if I see a video of an interview with him sometimes I click. I don't know how that is hypocrisy I just want to helt people from being missled and completely follow his advice which will lead to unnecessary mistakes for your hard earned money. But you do you I guess. Good luck in the markets.

[@Homecastlefoundation]

There's a lot of bad feeling from less successful financial experts than Warren. The lack of respect they receive from Berkshire investors is all they can really legitimately complain about.

[@adsouzaful]

Aswath is AS worth

[@abperson20]

Starbucks was faulty to begin with. Remember the 'You've got mail" dialogue. "The whole purpose of places like Starbucks is for people with no decision-making ability whatsoever to make six decisions just to buy one cup of coffee". This cannot last for long. Intel will survive because it has products. Remember Xerox - its still around though not in the same form as before.

[@HOWWILLIKNOW]

What is this guy's track record? Why is he even speaking about valuation. I remember his ferrari valuation before ipo. Now race is up more than 10x

[@jonasbergstrom9064]

You can nit pick anyone’s stock picks and you won’t find all winners (if you only see winners that’s because they are not mentioning their losers). He’s been very spot on with lots of stocks. Being an investor in NVIDIA since way back or buying Meta at the bottom during the whole negative sentiment of the metawerse crap. But I don’t follow him for stock picks rather than his thinking and writings about companies that I think is the most insightful and comprehensive source out there.

[@alexc5228]

@@jonasbergstrom9064 he was bearish meta at november lows 2022 saying they were overvalued even then.

[@alexc5228]

@@jonasbergstrom9064 also he names companies but never mentions size of position and makes alot of excuses and lets price action dictate his sentiment.

[@jonasbergstrom9064]

@@alexc5228 what are you talking about? I suggest you read his meta article again. He highlights many things to be bearish about Meta during that time because they were all very valid (just look at the stock at that time) but he doubled his position despite that in Nov 2022 lmfao

[@mandyn9437]

He thinks everything is overvalued. I really would like to see how he establishes a portfolio for himself and how well that portfolio performs!

[@gordonsteen8415]

Nike?

[@soleboxy]

Great story teller but he himself says valuations mean nothing so why learn from him anything? 😮😮😮

[@therighteous802]

Sounding smart by being vague. Make a prediction or show your portfolio.

[@goldmother2238]

The idle mind is the devils workshop .... idle mind and empty mind are quite different.

[@spg6651]

That is where your personality culture and civilization comes in .. If you are free what do you do ? That determines what empty mind can do .. Example : I was thinking of what is the root cause for the governance in India and throught of VOTE BANK politics .. Then I started thing deep and came out with entirely original 36 ideas and posted in the Government website .. What do you do when your mind is empty is what you frown up with -- Your childhood bringing up becoems important

[@learnzz9255]

Show me the money? Buffet made billions. How much did this guy make

[@spg6651]

He mentioned about that .. He is OK with less money .. He enjoys Active investing .. ultimately difference between billion and multi billion is nothing . Beyond a point money losess importance ..

[@ericcox1863]

I have been a fan of Prof. Damodaran for a long time and have read much of his work, but this interview was disheartening at times. At the end of the interview it felt like he was admitting that despite his expertise in valuing companies, he didn’t have much confidence that his approach would necessarily outperform the market. That he just does it because he enjoys doing it. Which is fine, but am I wasting my time (and money buying his books) trying to learn how to value companies? And then he criticizes the value approach to investing, which despite its recent struggles, has had a long track record of outperformance. Yeah, Buffett followers can be a little pious at times, but it's hard to deny his success. Perhaps I am misunderstanding what the professor is trying to say?

[@tobiasgreen3576]

Don't think you have misunderstood, just that you would wish otherwise.

[@Austin6403]

Most of what this guy said was smart, but he called out PLTR and couldnt have been more wrong, and says his goal is to match the index. Lol. The name of the channel is excess returns. If we wanted to match the index, we’s buy the index. Also Vanguard could not be run with 20 people, lol.

[@Austin6403]

Also if you bought Marriot in 2019 at $90, its at $260 today

[@Austin6403]

If youre worried about a company having voting only shares and you dont like mgmt’s decisions, just sell the stock. Lol. The market will tell them their mistake. Meta is the perfect example ironically with metaverse, selloff; then year of efficiency

[@로악귀-u9w]

Garcia Linda White Eric Moore Eric

[@brapascal]

So many bloody ads!

[@TheSachinmrig]

Real empty mind means it is filled with cosmic intelligence which AI cannot touch.

[@antonomaseapophasis5142]

1:06:26 Mr. Damodaran, your bot does not have your sense of humor.