Valuation Lessons, Investing, & Life w/ Aswath Damodaran

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William Green speaks with valuation guru Aswath Damodaran, who has written numerous books on how to value companies and invest successfully. The ultimate teacher, Aswath is a legendary professor of finance at NYU who has also made his classes available for free online to millions of followers around the world. In this conversation, he shares insights on how to value stocks, find the right investment strategy for you, and build a joyful life.
IN THIS EPISODE, YOU'LL LEARN:
00:00:00 - Intro
00:00:07 - Aswath Damodara's childhood and upbringing in India
00:03:15 - Aswath Damodara's move to America
00:05:15 - How Aswath Damodara discovered his passion for teaching
00:08:20 - Why it’s so valuable to build unscheduled “day-dreaming time” into your day.
00:11:06 - Why it’s a competitive advantage to be a generalist in a world of specialists.
00:21:41 - What 42 years as a professor has taught Aswath about how to communicate.
00:29:08 - Why he’s intensely skeptical about the ESG movement.
00:39:46 - Why he owns no cryptocurrencies and views Bitcoin as a currency “for the paranoid.”
00:46:45 - Which investment principles guide him.
00:50:17 - How to identify the investment philosophy that fits best for you.
00:56:47 - How he values businesses by focusing on three key drivers above all else.
01:11:12 - Why he’s glad that he sold Amazon and Tesla, and how he hit the jackpot with Apple.
01:16:24 - Which investors he admires the most.
01:23:00 - Alibaba and China's government
01:24:49 - Macroeconomics and Valuation
01:27:04 - Why he believes that macroeconomic forecasting makes soothsayers look good.
01:29:26 - How he maintains his serenity in difficult times, both in markets and life.
01:31:31 - Why it’s so important to spread your bets and not concentrate too aggressively.
01:35:08 - How “small, right” actions can have a massive impact on you and others.
01:44:50 - Why he treasures the freedom to speak his mind, quit his job, and walk away.
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📖 BOOKS MENTIONED:
- Richer, Wiser, Happier by William Green - amzn.to/3JejudP
- Investment Fables by Aswath Damodaran - amzn.to/3EEnjbq
- The Little Book of Valuation by Aswath Damodaran - amzn.to/3OwTcYg
- Investment Philosophies by Aswath Damodaran - amzn.to/3L9SnCo
- Narrative and Numbers by Aswath Damodaran - amzn.to/3MqzLyb
- The Success Equation by Michael J. Mauboussin - amzn.to/3EA7oeg
Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😁
▶️ PAST EPISODES MENTIONED
- Expectations Investing Explained w/ Michael Mauboussin (TIP421) - • Expectations Investing...
💡OTHER RESOURCES
- William's Twitter Account - / williamgreen72
- Aswath’s Website - people.stern.nyu.edu/adamodar/...
- Aswath’s Blog - aswathdamodaran.blogspot.com/
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