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Excess Returns
The Case for Value Investing with Tobias Carlisle
Apr 4, 2024
Tobias Carlisle, an expert in value investing, discusses the struggles and opportunities of value investing for long-term investors. They cover topics like inflation, AI, Berkshire Hathaway post-Buffett, and market trends, emphasizing the importance of undervalued stocks and strong management amidst uncertainties.
01:05:21
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Quick takeaways
- Market shifts towards passive investing impact stock valuation emphasis on fundamentals.
- Value investing focuses on long-term returns, cash returns, and undervalued stocks with strong yield.
Deep dives
Discussion on the Changing Investment Landscape and Passive Flows
The discussion delves into the changing investment landscape where passive flows have possibly overwhelmed active investment, affecting how markets value stocks. Concerns arise about the market's reduced emphasis on fundamentals and the impact on stock pricing. The conversation revolves around strategies focusing on companies returning cash to shareholders as opposed to relying on mean reversion or multiple expansion.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode