TIP782: The Search for Mispriced Stocks w/ Clay Finck
We Study Billionaires - The Investor’s Podcast Network
Passive flows make price makers of indexers
Clay discusses passive investors' indifference to price and the systemic risks if flows reverse.
In this episode, Clay reviews the book Hidden Investment Treasures by Daniel Gladiš and explores how the rise of passive investing has created growing inefficiencies in today’s market.
IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:02:37 - How the rise of passive investing has weakened the price discovery process 00:07:38 - Why price and value often diverge in overlooked parts of the market 00:15:37 - Why today’s market environment may be especially favorable for disciplined value investors 00:23:53 - Why paying the right price matters more than forecasting short-term market movements 00:29:43 - How capital allocation, balance sheet strength, and management quality reduce investment risk over time 00:59:33 - Key lessons from real-world case studies, including Markel, NVR, Japanese equities, and banks
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
- Learn how to join us in Omaha for the Berkshire meeting here.
- Daniel Gladiš’s book: Hidden Investment Treasures.
- Learn more about Gladiš’s firm: The Vltava Fund.
- Check out the Made in Japan Substack.
- Related Episode TIP758: Current Market Conditions & Investment Opportunities w/ Derek Pilecki.
- Follow Clay on X and LinkedIn.
- Related books mentioned in the podcast.
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