#41: James Davolos On Protecting Yourself Against A Paradigm Shift In Inflation
Superinvestors and the Art of Worldly Wisdom
00:00
How Horizon's Early Years Shaped My Valuation Approach
I think that I definitely have a far more cautious and I try to bake a lot of room for error into any of my valuations. But ever since experiencing 08 and 09, which was very difficult for all value investors, my firm included, I've always had a skepticism and maybe too much skepticism. And also coming from my family business where my parents weathered the SNL crisis operating a small family hotel in a seasonal community that was really devastated by theSNL crisis. So I always look at what could go wrong first instead of trying to look at all of these pie in the sky scenarios, which hasn't been the right approach, at least in the recent market cycle.
Transcript
Play full episode
