Excess Returns  cover image

Replicating Hedge Fund Strategies with Andrew Beer

Excess Returns

00:00

Value Investing

In the early 1980s, value investing was about buying a good company at a reasonably cheap price. In 1990, Tiger management changed its definition of value to buy companies that care about how they reinvest cash. And so when Warren Buffett said he's just by the S&P 500 and you've got stock options, people actually got motivated to focus on making their companies better.

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