Microcaps: discovery versus catalysts

In this conversation, Aswath Damodaran shares insights into his early life in India, his passion for teaching, and his pragmatic approach to valuation. He discusses the importance of learning from mistakes through case studies, the impact of AI on investing, and the balance between qualitative and quantitative analysis in valuation. The conversation also touches on the differences between passive and active investing, the future of work in an AI-driven world, and the significance of personal philosophy in investment decisions.

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Chapters

00:00 Introduction and Early Influences

05:42 The Pragmatic Nature of Valuation

11:56 Case Studies: Successes and Failures

17:56 Navigating Lofty Valuations

23:31 Investment Philosophy and Personal Growth

34:11 Undiscovered Investment Opportunities

40:58 The Role of Passive Investing

49:27 Qualitative Factors in Valuation

55:31 Reflections on Performance and Market Truths

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