Financial analyst Trey Lockerbie hosts a podcast episode with guests Jeremy Grantham, Michael Mauboussin, Josh Young, Ian Cassell, Brent Johnson, Dan Rasmussen, and Joe Brown. They discuss topics such as inflation comparison to 1970, valuation multiples, energy's impact on inflation, microcaps for investors, the dollar milkshake theory, and market indicators.

Dan Rasmussen, founder of Verdad Advisers and author of "The Humble Investor," discusses compelling market insights. He explains why high bond yields may not equal high returns and the potential in undervalued international stocks. Dan explores how private equity performance hinges more on portfolio construction than manager skill. He highlights positive changes in Japanese corporate governance and assesses UK market valuations post-Brexit. With a focus on humility in investing, he challenges prevailing market assumptions, offering valuable perspectives for all investors.

Clay Finck chats with Dan Rasmussen about why Japanese equities offer some of the most attractive valuations in the market today, how stretched growth stock valuations are relative to value and much more.Dan is the Founder and Portfolio Manager of Verdad, which is a global asset management firm that strives to achieve the highest risk-adjusted returns possible through rigorous research and its practical application.IN THIS EPISODE YOU’LL LEARN:00:00 - Intro.01:45 - Contrarian views of the market Dan holds relative to the rest of the market.05:14 - Why the US is overvalued relative to international stocks.09:19 - Historically how undervalued value indices are.13:27 - Why Dan is bullish on Japan.13:44 - The value mandate that Japan put in place to try and juice stock market valuations.24:11 - Dan’s views on Japan’s policy of yield curve control.24:42 - What’s keeping investors away from Japan’s stock market.30:57 - What the financial accelerator is and how it relates to the 2023 banking crisis.36:12 - How equity markets tend to behave after a Fed pause.36:30 - How high-interest rates are affecting corporate earnings.51:21 - Dan’s views on the Chaos Kings and their strategy of Crisis Investing.60:40 - How Verdad’s portfolios are positioned today.72:21 - What technologies excite Dan in creating a better society for the future.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Check out of our review of Microcap Investing with Ian Cassel,  or watch the video here. Follow Dan on Twitter. Follow Clay on Twitter. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts.  SPONSORSSupport our free podcast by supporting our sponsors: River Toyota CI Financial Sun Life AFR The Bitcoin Way Industrious Briggs & Riley Range Rover Meyka iFlex Stretch Studios Vacasa Public Simon & Schuster USPS American Express Shopify HELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Which economic indicator is the most reliable for confirming we’re in a crisis? According to Verdad Capital founder and portfolio manager Dan Rasmussen, it’s high-yield spreads. Identifying the key relationships across the globe isn’t hard. Formulating an approach that surfaces alpha when spreads spike is where it gets difficult. Per Rasmussen, the best way to act in such environments is through small-value equities. Rasmussen explains why it makes sense and how to time the trade in a captivating episode of The Next Big Trade. Never miss an episode of Next Big Trade - subscribe here. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Daniel Rasmussen, founder of Verdad Advisers and author of 'The Humble Investor', shares his unique view on investing. He argues against US tech investments and advocates for buying Polish small caps, especially with potential peace in Ukraine. Rasmussen discusses the fallacies of financial forecasting, emphasizing that despite their shortcomings, forecasts are still necessary. He highlights the advantages of value investing in international markets and warns against the AI bubble, offering a refreshing perspective on current market dynamics.

Dan Rasmussen, founder of Verdad Capital and a pioneer in quantitative investing, discusses how his firm thrives on high-quality research, having published nearly 500 pieces since 2014. He highlights the essence of authenticity in building investor relationships and the compliance nuances in research publishing. The conversation also touches on fostering human capital, learning from entrepreneurial mistakes, and employing a SaaS approach to achieving product-market fit, all while adapting to diverse investor profiles in the hedge fund landscape.

Every so often, I share my thoughts on investing on the other side of the mic. And occasionally, those ideas are different from what I’ve shared in the past. Recently, I appeared on the Opto Sessions Interviews with Extraordinary Investors podcast hosted by Haydn Brain. Opto identifies key themes and ideas to help investors get exposure to structural growth trends through a daily newsletter, magazine, and podcast. Hadyn asked me some great questions that cover the difference in retail and institutional investing, aspects of my professional experience, insights from my conversations with Sam Zell, Joel Greenblatt, Chamath Palihapitiya, Mike Novogratz, and Dan Rasmussen, investing for the long-term, and reflections on the Buffett Bet. Learn More  Follow Ted on Twitter at @tseides or LinkedIn  Subscribe to the mailing list  Access Transcript with Premium Membership  Show Notes (3:11) Capital Allocators Mission (5:53) Ted’s background (10:16) Outperformance in the GFC (13:25) Insights in first book (16:40) Making Capital Allocators a success (19:41) Importance of contrarianism (23:26) Conviction for retail investors (29:54) Views on Buffett (35:02) Understanding digital assets (39:40) Themes for the next ten years (42:00) Thinking for the long-term (45:29) Summary of Ted’s bet (54:20) Closing questions 

Dan Rasmussen of Verdad discusses quantitative deep value investing, challenges of small and micro stocks, correlation between size and liquidity in investing, potential improvements in the Japanese stock market, relationship between 10-K report size and investment performance, crisis strategy using high yield spreads, launching and improving a multi-strategy fund, and asset allocation, leverage, and derivatives in constructing portfolios.

Dan Rasmussen, an investing expert known for discussing the 'Great Rotation' and U.S. equity dominance, dives into the heated debate on international diversification. He highlights how interconnected today’s markets are and questions the long-term trends favoring U.S. stocks. The discussion uncovers currency exposure's role and critiques passive investing flows. With insights from top investors, the conversation explores optimal allocation strategies, market unpredictability, and the case for a globally diversified portfolio, helping listeners refine their investment approaches.

Dan Rasmussen, Founder & CIO of Verdad Advisers, discusses practical investing experience, rethinks endowment models, analyzes interest rates and inflation impact, and explores global equity opportunities in an ever-changing economy.