We Study Billionaires - The Investor’s Podcast Network TIP237: Legendary Value Investor Sanjay Bakshi (Business Podcast)
Apr 7, 2019
In this engaging discussion, Sanjay Bakshi, a legendary value investor and professor of behavioral finance, shares his expertise on navigating today’s investment landscape. He dives into the impact of disruptive technologies on investment strategies and the vital concept of competitive moats for businesses. Bakshi emphasizes the significance of stress-adjusted returns and offers insights into analyzing Warren Buffett's shareholder letters for better investment decisions. This conversation is a treasure trove for aspiring investors seeking to refine their strategies.
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Buffett's Influence
- Sanjay Bakshi discovered Warren Buffett while studying efficient markets at LSE.
- Reading Buffett's letters, available for free, changed his investment approach and life.
Process Over Outcomes
- Value investing's delayed feedback makes separating skill from luck difficult.
- Outcomes are often prioritized, but the process matters more, unlike other professions with immediate feedback.
Avoiding Disruption
- Avoid businesses prone to disruption, especially those with deceptively low P/E ratios.
- Disruption risk is real; earnings can evaporate faster than investors anticipate.
