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TLDR
Investing in an Irrational World
Sep 18, 2024
Markets might not be as efficient as once thought, with stock valuations increasingly disconnected from fundamentals. The hosts explore the struggles of European car manufacturers transitioning to electric vehicles, compounded by geopolitical tensions. They also dive into the rise of autonomous driving, spotlighting Waymo's innovations amid ethical dilemmas. Additionally, the rise of meme stocks highlights the power of individual investors and the humorous side of tech's impact on finance.
20:13
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Quick takeaways
- Cliff Asness argues that the traditional efficient market hypothesis is increasingly flawed as social media influences stock trading decisions, creating mispricings.
- The European car market is struggling significantly due to underutilization of plants and the rapid transition towards electric vehicles, raising concerns for its future.
Deep dives
Challenges for European Car Manufacturers
European car manufacturers face significant financial challenges that could lead to plant closures due to underutilization. Analysis shows that nearly a third of major plants among Europe's top automakers are producing less than half of their capacity, which is troubling considering the auto industry's importance to Europe's economy. Factors such as ongoing supply chain issues and the transition to electric vehicles (EVs) are contributing to these struggles, as manufacturers lag behind competitors in the U.S. and China. The push for 2035 emissions-free new cars is adding pressure, as European automakers grapple with the need to adapt to a market shifting rapidly towards electric solutions.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode