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Learning from Past Investment Mistakes
Past experiences of underestimating companies like Amazon serve as a reminder of survivorship bias in investment decisions. It is common to overlook failed investments and only remember the successful ones, creating a false sense of missed opportunities. Novi Marks' paper on gross profits on total assets has gained popularity as a key metric for evaluating a company's quality.
In today's episode, Stig Brodersen speaks to Tobias Carlisle and Hari Ramachandra. Stig only owns five individual stocks, and in this episode, he outlines why he is still bullish on Spotify. Hari’s pick, Disney, has recently been extremely volatile, and Tobias pitches Mueller Industries, a value stock trading at an appealing valuation.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
06:25 - Why Hari is bullish on Disney (Ticker: DIS)
12:09 - The bear case of Disney, including increasing competition, valuation, and debt levels
35:33 - Why Stig has invested in Spotify (Ticker: SPOT) as one of the five stocks he owns
48:44 - The bear case for Spotify, including the dependency on Alphabet
58:18 - Why Toby has invested in Mueller Industries (Ticker: MLI)
1:06:46 - The bear case for Mueller Industries, including the end of the building phase and competitive Chinese pressures
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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