The Art of Value Seth Klarman: We've Had An Everything Bubble...
In this episode I summarize and discuss a recent interview with legendary value investor Seth Klarman. During the interview Klarman discussed the “Everything Bubble” he sees unwinding, the investing opportunities that’s bringing, the nature of value investing in relation to growth, buying quality companies at the right price, how to get an edge in the competitive investing environment today, technology investing in inefficient markets, Bitcoin, the current macroeconomic environment, and more.
Timestamps:
00:00 Seth Klarman Intro
00:37 Security Analysis revised
00:59 The Everything Bubble
02:05 The Bubble timeline and investing opportunities: 4/10
03:26 Then and now: railroads to SPACs and crypto
04:44 What is value investing? Klarman's definition
05:48 How to think about growth in investing
06:10 Not overpaying for quality companies
06:54 Warren Buffett and buying the Index
07:37 How to get an edge
08:15 Inefficient markets and mis-priced stocks: META
09:09 Thoughts on technology disruption and crypto
09:43 Is Bitcoin digital gold?
10:32 Macroeconomic prediction and investing
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Why Druckenmiller Owns Nvidia Despite "Nosebleed Territory” https://youtu.be/QP496jwcumk
Are AI Stocks A Bubble? Druckenmiller, Greenblatt Said… https://youtu.be/KmlXeoM5LLY
Peter Lynch's 2023 Advice on Buying Stocks - Rare Interview https://youtu.be/sZKt5j1Rwi0
Investing Book referenced in this episode:
Security Analysis, Seventh Edition: Principles and Technique, by Benjamin Graham, David Dodd, Seth Klarman - editor (referral link) https://amzn.to/444wP3K
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The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664
I use GuruFocus for historical, financial and valuation data, screeners, charts and comparison tools, to help me make smarter long-term investing decisions (refferal link):
https://www.gurufocus.com/?r=2c95d5930bb2537b2e0265075fb66581
Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.