We Study Billionaires - The Investor’s Podcast Network

TIP686: Big Tech Stocks w/ Adam Seessel

110 snips
Dec 27, 2024
Guest
Adam Seessel
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.
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ANECDOTE

Seessel's Shift to Tech

  • Adam Seessel initially managed a traditional value investing approach, focusing on cheap, unloved securities.
  • This strategy underperformed in the mid-2010s as tech disrupted traditional sectors, leading Seessel to evolve his approach.
INSIGHT

Adapting Investment Strategies

  • Recognizing when your investment strategy is failing and adapting is crucial.
  • Seessel's shift demonstrates the importance of evolving with the market, similar to Buffett's adaptations.
INSIGHT

Tech's Growing Dominance

  • Tech's dominance in value creation has grown significantly over the past 20 years.
  • Seessel's analysis reveals tech created 55-60% of US market value growth, emphasizing its importance for investors.
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