This week we welcome Dan Rasmussen back to the Value Perspective podcast. Dan is the founder of Verdad Research and we last spoke with him in June 2021 to discuss his passion for history and how it helps him as a value investor. This time we discuss how reviled value is today relative to when we last spoke, how memory and probability work together, his contrarian view on Michael Porter’s five forces and quality investing, ergodicity and how volatility is not the best measure of risk but does matter in certain circumstances, and finally the Europe opportunity. Enjoy!
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