Prof G Markets: Will Boeing and Intel Recover? — ft. Aswath Damodaran
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You'll get Aswath's updated take on Nike, Disney, Estée Lauder, Starbucks, Google, Tesla, Uber and Expedia, and more.
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Prof G Markets: First Quarter Review — with Aswath Damodaran
Aswath Damodaran returns to the show to discuss the impact AI had on Big Tech’s Q1 earnings. He breaks down the significance behind Meta and Google’s decisions to start paying a dividend and what it means about their places in the corporate lifecycle. He also shares his thoughts on the death of corporate governance at tech companies. Finally, he explains why May will be a “make or break” month for the mood of the markets – and how you should invest accordingly.
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Prof G Markets: Fourth Quarter Review — with Aswath Damodaran
Aswath Damodaran returns to the show to discuss the Magnificent Seven and how to look under the radar for the next generation of big companies. He breaks down the consolidating streaming industry and explains why he’s never owned Netflix. He also shares why he recently added Tesla to his portfolio, and why he calls it his corporate teenager. Finally, he offers some advice on navigating the Chinese market.
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Prof G Markets: Third Quarter Review — with Aswath Damodaran
Scott shares his thoughts on WeWork’s bankruptcy, Saudi Arabia’s World Cup bid, and Disney’s full ownership of Hulu. Then Aswath Damodaran returns to the show to break down third quarter earnings season. They discuss Meta, Netflix and streaming, Instacart, the Ozempic effect, Birkenstock, Google, and Aswath’s new valuation for Tesla.
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Aswath Damodaran - Making Sense of the Market Pt. 2 - [Invest Like the Best, EP.349]
Today’s guest is Aswath Damodaran, who is joining us for a second time on Invest Like the Best. Aswath is a Professor of Finance at NYU’s Stern School of Business and is often referred to as the Dean of Valuation for his clarity of thought on the subject. This conversation picks up where we left off 18 months ago and covers a wide range of topics from macro risks to Nvidia and the process of crafting a personal investment philosophy. Please enjoy this great discussion with Aswath Damodaran.
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For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Show Notes
(00:02:45) - (First question) - The general prevailing narrative in markets today
(00:05:00) - The biggest business implications given the current market landscape
(00:06:45) - Why it’s bad to have risky founders with cheap capital trying experiments
(00:08:53) - The natural rate of interest and how it’s priced
(00:09:55) - His updated view and thoughts on what’s currently driving inflation
(00:11:05) - What it’s felt like valuing companies given rates being where they are
(00:13:35) - Macro variables that most have his attention today
(00:18:45) - Whether or not international equities will become a place of interest
(00:21:53) - The unique absolute basis of NVIDIA’s growth
(00:23:25) - His take on the new wave of AI in a broad sense
(00:29:15) - Trying to value AI companies without tangible business models
(00:32:45) - The parts of his own valuation process that are beyond automation
(00:34:20) - Thoughts on a natural end state equilibrium for active management
(00:35:55) - Commonalities between investors who beat the benchmark
(00:38:35) - Episodes on his own path that lead him towards his investment philosophy
(00:42:05) - How he goes about valuing non-traditional companies like sports franchises
(00:46:45) - The world of entertainment and how he sees it as a business today
(00:53:45) - The best business models he’s ever seen
(00:55:40) - What valuing Instacart taught him about online grocery shopping
(00:58:55) - The most interesting company he valued over the last year
(01:03:25) - How bank failures changed his thinking on our financial systems and banks as businesses writ large
(01:06:15) - The changing attitude towards ESG investing
(01:11:11) - Why there are still so many pools of capital that pursue an active strategy
(01:11:06) - Being sick and tired of the conversation always revolving around central banks
(01:15:53) - What he’s most excited to look into over the coming year
(01:17:53) - Major differences between a financial and an accounting balance sheet
Prof G Markets: NVIDIA’s Valuation and AI’s Negative Sum Game — with Aswath Damodaran
This week on Prof G Markets, Scott speaks with Aswath Damodaran, professor of finance at NYU’s Stern School of Business, about his valuation for NVIDIA, tech’s rally this year, the implications of AI when every company has it, and opportunities in the markets right now. Follow Aswath on Twitter, @AswathDamodaran.
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Prof G Markets: Robinhood’s Retirement Accounts and Disney’s Next Move — with Aswath Damodaran
This week on Prof G Markets, Scott shares his thoughts on why Robinhood is starting to offer retirement accounts. Then Aswath Damodaran, a professor of finance at NYU Stern, joins Scott for a Lightning Round on Apple, Amazon, Bob Iger, Chinese stocks, and opportunities in the markets. Finally, we hear a prediction for Disney in 2023.
Show Notes:
Robinhood
Bob Iger
Music: https://www.davidcuttermusic.com / @dcuttermusic
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Tech Valuations and The State of The Market — with Aswath Damodaran
Aswath Damodaran, a professor of finance at NYU Stern, joins Scott to discuss Twitter and Meta, his outlook on the economy and valuations. He also shares his thoughts on the state of the crypto market. Follow Aswath on Twitter, @AswathDamodaran.
Scott opens with his thoughts on zero-covid policies in China, Twitter and the rage machine, as well as what he’s watching on TV right now.
Algebra of Happiness: Freudenfreude
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Aswath Damodaran - Making Sense of the Market - [Invest Like the Best, EP. 279]
My guest today is Aswath Damodaran, a Professor of Finance at NYU’s Stern School of Business. Aswath is one of the clearest teachers of investing and finance in our industry and through his blog, books, and YouTube has open-sourced his wisdom for decades. This conversation is a masterclass of key investing concepts. We discuss inflation, narratives, disruption, the evolution of alpha and edge, and his thoughts on ESG. Please enjoy this great conversation with Aswath Damodaran.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you're a professional equity investor and haven't talked to Canalyst recently, you should give them a shout. Learn more and try Canalyst for yourself at canalyst.com/Patrick.
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This episode is brought to you by Brex. Brex is the integrated financial platform trusted by the world's most innovative entrepreneurs and fastest-growing companies. With Brex, you can move money fast for instant impact with high-limit corporate cards, payments, venture debt, and spend management software all in one place. Ready to accelerate your business? Learn more at brex.com/best.
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Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Show Notes
[00:02:43] - [First question] - How he thinks about inflation as a now dominant force
[00:04:33] - Why inflation is so important across the spectrum
[00:09:02] - Big lessons from other periods of historically high inflation writ large
[00:10:45] - Reasons why equities as an asset class struggle in high inflation environments
[00:15:21] - The relationship betweens goods versus services in times of high inflation
[00:16:59] - Broader economic implications especially for income inequality
[00:19:03] - The Fed taking inflation seriously now when they didn’t and thoughts on the policy response to today’s situation
[00:21:05] - How smart companies are defensively adjusting to inflation
[00:27:46] - The importance of a capital allocation skill-set for executive team members
[00:29:32] - Further historic lessons and how he’s being defensive against inflation
[00:33:09] - Lessons learned about Amazon valuing them every year since their inception
[00:42:25] - Whenever he sees Thanos in the Avengers he thinks of Amazon
[00:44:51] - Thoughts on Facebook, Apple and Microsoft
[00:48:26] - The evolution of edge and the search for alpha
[00:54:37] - Whether or not there’s utility in studying other investors
[00:57:16] - Skill versus luck and the most common valuation mistakes he’s made
[00:59:09] - Assuming long-term growth rates and changing company life cycles
[01:02:02] - Momentum and Value investing in today’s market
[01:07:24] - Differences between interest rates and discount rates in regards to inflation
[01:12:00] - How today’s market affects early stage equity investment
[01:14:36] - The growing popularity of ESG and his seemingly contrarian view on it
[01:24:03] - Nature of disruption as a force and companies that are protected from it
[01:28:24] - Assigning a disruption risk premium when valuing companies
[01:32:52] - What he makes of Elon Musk buying Twitter
[01:34:24] - Other major topics he has a divergent view on
[01:38:37] - Narrative And Numbers; The kindest thing anyone has ever done for him
[01:38:55] - Teaching with a goal of changing mindsets
BONUS EPISODE! Live from Pivot MIA: The Life Cycle of a Company with Prof. Aswath Damodaran
In one of the most popular presentations from Pivot MIA, Professor Aswath Damodoran of NYU's Stern School of Business compares the life cycle of a company to the stages of life of an actual human being. It’s the structure he uses to understand why companies do what they do, and more importantly, to pinpoint “when companies do things they shouldn’t be doing.”
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Pivot Predictions Special: 2022
Kara, Scott and a handful of Friends of Pivot make some predictions about what 2022 has in store for the Metaverse, China, Apple and more.
In this episode, we hear predictions from Co-Anchor of CNBC’s Squawk Box Andrew Ross Sorkin, LightShed Partners’ Rich Greenfield, Senator Amy Klobuchar, author Cory Doctorow, WSJ Senior Personal Technology Columnist Joanna Stern, NBC News Senior Business correspondent Stephanie Ruhle, NYU Professor Aswath Damodaran, author Sheera Frenkel, and actor George Hahn.
Send us your Listener Mail questions through our site, nymag.com/pivot and use Yappa to leave a video or audio message.
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Facebook is So Meh-ta, Biden's Budget Package, and Friend of Pivot, Aswath Damodaran
Kara and Scott talk about Facebook’s rebrand, Biden’s big week at COP 26, the spending bill drama at home, and the CEO who actually asked for a pay cut. Plus, Friend of Pivot Aswath Damodaran on taxing billionaires, the future of SPACs, markets, meme stocks, and more.
You can find Aswath at @AswathDamodaran.
Send us your Listener Mail questions, via Yappa, at nymag.com/pivot.
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State of Play: GameStop
Aswath Damodaran, a professor of finance at NYU Stern, joins Scott to discuss the news surrounding GameStop and the short squeeze. Aswath also shares his thoughts on SPACs, the markets more broadly, and the importance of diversifying your portfolio. Follow him on Twitter, @AswathDamodaran.
Additional music by: https://www.davidcuttermusic.com / @dcuttermusic
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Love in the Time of Corona
Scott explores the idea of “Love in the Time of Corona” answering listener questions about how to prepare, adapt, and respond during these volatile times. He also sits down with Aswath Damodaran, Professor of Finance at the NYU Stern School of Business, to understand his take on the virus, markets, and investing.
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The World's Foremost Expert Explains How To Value Stock
In this age of algorithms and quants, you hear less and less about good old stock picking. You know, like the style of investing associated with Warren Buffet or Benjamin Graham. But that doesn't mean you can't still dive into a balance sheet or cash flow statement in order to divine a stock's true worth. On this week's Odd Lots we speak to Aswath Damodaran, a professor at NYU's Stern School of Business, and the foremost expert on stock valuation. He explains his general approach to valuing stocks, and how he might use that framework on companies like GE, Tesla, and Uber.
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