In this book, James Bessen argues that leading firms in various industries have achieved and sustained their dominance through investments in proprietary software, which smaller firms cannot match. This leads to a slowdown in innovation and increased income inequality. Bessen proposes that compelling these corporations to share their technology, data, and knowledge could reinvigorate economic competition without breaking up the corporate giants. The book provides a detailed analysis supported by extensive empirical work in industrial organization and highlights the challenges in regulating systemic and existential risks associated with complex proprietary IT systems.
In 'Beating the Street', Peter Lynch explains his strategies for investing, emphasizing the importance of understanding the companies behind the stocks. He advises investors to focus on what they know, avoid macroeconomic predictions, and maintain a concentrated portfolio of well-researched stocks. Lynch provides practical advice on finding undervalued companies, doing thorough research, and making disciplined investment decisions. The book is a follow-up to his earlier work, 'One Up On Wall Street', and offers insights into his successful investment approach[1][3][4].
In today's episode, Stig Brodersen speaks to Tobias Carlisle and Hari Ramachandra. Stig only owns five individual stocks, and in this episode, he outlines why he has put Burberry on this watchlist. Hari’s pick, ICICI Bank Limited, is a solid bet on the rise of India, and Tobias pitches Playtika, a value stock trading at an appealing valuation.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
01:57 - What are the current economic conditions?
13:37 - Are we entering a world with less disruption?
17:30 - What Stig’s bull case is for Burberry (Ticker: BURBY).
35:18 - The bear case for Burberry, including the current deterioration in the luxury sector.
42:35 - Why Toby has invested in Playtika (Ticker: PLTK).
52:23 - The bear case for Playtika, including the lack of moat and switching costs.
56:01 - Why Hari is bullish on ICICI Bank Limited (Ticker: ICICIBANK).
1:12:47 - The bear case of ICICI Bank Limited, including whether the valuation is stretched.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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