Behind the Markets Podcast: Robert Novy-Marx
Behind the Markets Podcast
Analysis and Discussion of Recent Market News and Valuations
The speakers discuss the recent news story regarding the RMIPO and its implications for tech valuations and the market, highlighting the potential for a sell-off in semiconductors and NASDAQ heavy names. They also touch on the reopening of the IPO sector and its positive impact on the market.
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Speaker 2
Yeah, you must have started from a pretty solid base though. I've looked at some of those CrossFit videos. I don't know if I've got the gymnastic body or not.
Speaker 1
No, no, no, I started from scratch. Remember like I almost died in October and I had to rebuild my body. And so I started from scratch and I don't do CrossFit style Olympic rings where I just looked around and saw like in gym, Olympic gymnastics, if you look, the men are always so jacked, but in those, within the men who compete, they compete in different things like on parallel bars, on floor and this and that. And out of all those jack guys, you know the ones who are just the most jacked, like on muscles upon muscles, it's always the guys who do Olympic rings. There's no swinging none of that. You know, I mean, nothing goes crutch, but that's a whole different methodology, but I just decided to go old school. And also something I can do forever, which is like very graceful. Your muscles are being used every moment. There's no momentum. You know, like if you use momentum too much in Olympics, it will get dinged. It's a lot of muscular control and it's become my new favorite thing. Highly recommend anyone 50 bucks on Amazon, get yourself a set of rings, go to YouTube. There's all these great people
Speaker 2
like showing you how to work out using rings and they'll change your life. It really is my favorite thing these days. Going to go ahead and put myself down for some Olympic rings, $50. Yeah.
Speaker 1
Look, you can hang there from a tree branch. You can hang there from anywhere. You have a gym with you wherever you go.
Speaker 2
I definitely have a little bit of a garage set up right now. I've had some random weights here and there, but I got to tell you, I'm probably not going to go back to the gym. I've already canceled the subscription. I feel like I get a lot more sweating it out in the garage and 105 degrees than I ever did, you know, in the gym with a thousand people walking around.
Speaker 1
It's got to be interesting, man, because once things open up, so many of us used to think the gym was the only way to get fit and we found that there's alternatives and that we might like the alternative better that being inside a space with a bunch of other smelly people where I can, uh, rings, I do outdoors. I'm getting the sun. It's an outdoor workout. It's been a game changer for me. I could just go back, sport it by the ring forever. So you'll have to like get me off the subject. All right. Fair enough.
Show from 9/15/23
Prof. Siegel joins Jeremy Schwartz with a breakdown of a very big week for the market. He does note an increase in inflation but it shouldn’t result in an increase for next week. He also discusses the large rise in oil, noting long lines at gas stations and the impact the rise will have. He previews the upcoming week with a prediction that it will be hawkish. He finishes with a quick comment about the Arm IPO. (12:03) Professor Robert Novy-Marx starts off by talking about his educational past and how he got into his finance career today. He gives us his thoughts on value research and why he has confidence in it as a factor. He also details that the underperformance of value stocks is due to sector tilts. Jeremy asks Robert about his thoughts about the research on intangible assets and tech investments that are not capitalized. He goes into detail on the difference between gross profits versus net income. They discuss how Robert will be presenting at the Wharton School’s Jacobs Levy Equity Management Center for Quantitative Financial Research at its 2023 Frontiers in Quantitative Finance Conference next friday. He talks about the paper he will be presenting called Reversals and the Return to Liquidity Provisions.
Guest: Professor Robert Novy-Marx earned the Fama/DFA Prize for the best capital markets/asset pricing paper in the Journal of Financial Economics (2012 and 2013), the Smith-Breeden Prize for the best capital markets paper in the Journal of Finance (2011), the Spängler IQAM Prize for the best paper in the Review of Finance (2011), and the Mill's Prize for the best paper in Real Estate Economics. Novy-Marx is also a former professional triathlete, a member of the National Bureau of Economic Research and taught at the Booth School of Business before coming to the Simon School.
Learn more at: https://simon.rochester.edu/digital-measures-faculty/robert-novy-marx
Follow Robert on LinkedIn: linkedin.com/in/robert-novy-marx-b931a6174
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