We Study Billionaires - The Investor’s Podcast Network
TIP686: Big Tech Stocks w/ Adam Seessel
Dec 27, 2024
In a lively discussion, Adam Seessel, founder of Gravity Capital Management and author, shares insights from his extensive investment career. He delves into intrinsic value's role in evaluating Big Tech, providing updated perspectives on Alphabet and Amazon post his 2022 book. Adam also reveals how to navigate the AI wave while avoiding inflated valuations. He highlights Progressive Insurance's successful strategies in the auto market, emphasizing the importance of adapting traditional principles to current tech-driven dynamics.
01:03:43
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Quick takeaways
- Adam Ziesel emphasizes a strategic shift from traditional value investing to 'Value 3.0' to adapt to the digital economy.
- The concept of intrinsic value remains crucial in investments, though investors should balance it with market dynamics to avoid significant losses.
Deep dives
The Transition to Value 3.0
Adam Ziesel discusses his evolution in investment strategy from traditional value investing to what he terms 'Value 3.0'. After a decade of successful investing using classic value methods, he faced diminishing returns as market dynamics shifted. Realizing that old-school methods were ill-suited for a digital economy, he adapted by focusing on high-quality businesses with growth potential, particularly in technology. This strategic pivot, detailed in his book 'Where the Money Is', allowed him to outperform the S&P 500 by aligning with the realities of a changing market landscape.
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