Ed’s take on the United States being a participant of *a global economy* and comparing it to the mistakes the United Kingdom made is incredibly salient and on the ball. Ed is a really smart guy and I can tell he works hard to think through the opinions he chooses to disseminate to the audience. Well done Ed!
Except the UK knew that about the economy and voted on sovereignty because the EU is a regulatory nightmare that even they are suffering from. So why be stuck with that !!!!
I hear fundrise in my sleep. I hear fundrise when i wake up. I turn to my wife...turns out she is actually an innovation fund...on fundrise. What of my children...
Good for you. I have a small position and had larger limit orders at $28. It never triggered. Added at $53. Will buy an any dips. I will also put new shares in the Roth account.
As a Canadian, there's been a strong push to "buy Canadian," and many of us have lost trust in the U.S. as a reliable trade partner, even after the tariff delays. While trade with the U.S. will continue, there's growing discussion in Canadian media and among left-leaning Canadians about building pipelines to improve trade with Pacific and Atlantic countries-a surprising shift considering the previous focus on climate change. Americans should understand that Trump's actions are causing long-term damage, and even after his administration is gone, it will take time to rebuild trust.
A tariff is just a monetary incentive to buy local. So telling people to only buy Canadian has the same effect as Canada putting tariffs on the rest of the world.
@@BCUGhh Trump's tariffs will only make America POOR again. And this at the same time that his 'punished' countries Canada, Mexico, European countries, China are pushed in the run of a couple of years to a far higher level of progress and prosperity than anyone who's not long sighted can't believe. America will be left far behind, and it will take a lot of effort and time to stabilize again. It's amazing that right now, nobody seems to realize that USA does NOT manufacture anything anymore. It totally depends on foreign products. For the $4 Trillion that the super rich need to buy their tax exemption, they simply dismantle the whole country. They cut medical care from all Americans, cancel all unions' contracts, cut all federal benefits for all Americans, and fire as many as they can, raise taxes for poor, and middle class, pull down Dpt of Education, USAID, fire career federal workers like flight traffic controllers, CIA, FBI agents, etc, anything and everything only to raise these $4 Trillions to pay for being spared of taxes and accumulate enormous, incredible wealth. Musk, Bezos, Zuckerberger, Gates, Thiel, who paid $15 millions for both JD Vance and Blake Masters to be accepted in Senate, and then pushed Trump to accept Vance as VP, and Karp and all the others in the 1% super rich club, have ALL extremely favorable contracts with Dpt of Defense. So, this is the only Dpt that is going to be kept. It'd be interesting to find out how much value are their contracts.
Aswath!!!! Thank you so much you are a true treasure. It is so great that due to technology your thoughts and wisdom can be shared easily by anyone who seeks it. SMART DUDE
I really enjoy having Aswath on so much lately. So insightful and a delight to hear him talk about these complex topics. Thank you for having him back on so often!
Thanks Scott and Ed. I learned a lot from this episode. This professor Aswath Damodaran : loved how he contextualized the AI landscape by comparing it to 1995. Super helpful indeed!
Elected official in a small town in Canada. I'm bringing forward a motion to request all contractors who work with our town to disclose all beneficial ownership. Multiple local elected officials are looking at how to remove America from our contracts as much as possible. While there isn't likely a huge exposure, that's a multi-billion dollar sector in terms of the work from all local governments. Today's leaders are going to remember this tariff war forever, no matter what America does. There are so many markets in Canada that are turning away from American suppliers that it will show up as America has a surplus in services with Canada. There was a recent poll that measured how many Canadians are closely following every major news event in the past decade. Trump's tariff war is being closely followed by more people than COVID, more than any other issue in the past decade. Recency bias, perhaps, but America shouldn't be surprised if things like NORAD, Arctic sea lanes, and god knows what else stop being a given and start being a "negotiation." You want to land planes in Canada like in 9/11? Sure, but it'll cost you. You want to see the nuclear missiles from Russia as early as possible with bases on Canadian land in the Arctic? Sure, but it'll cost you. You don't want us to give another superpower an Arctic naval base [by the time this is relevant, there might be more than one option]? That'll cost you.
Aswath is one of my favorite guests. I quickly click on the video, if I see my favorite guests. Please also make Ruchir Sharma a regular guest of the show. I love Ruchir's insights!
Whenever Scott sees a stock go parabolic, he always tells people to sell. He has very little understanding of some of the companies he’s talking about.
15:40 As a vanguard customer, I'd rather see them keep the fees where they were and allocate that money to updating their platform. They can't hold a candle to Fidelity.
9:10 No country is completely self-sufficient. Even resource-rich nations rely on imports for things like food, technology, or raw materials. Climate, cost, and global trade make total independence impractical. Some countries are more self-reliant but still depend on imports for certain goods.
Has technology made my life better and easier? Definitely yes. Just considering travel-GPS navigation, translation, communication, entertainment, and secure payment systems-travel today is far easier than when I was a kid in the 1970s.
Its hilarious that LITERALLY everyone on the pod gets praise in the comments aside from scott 😂. The lack of critical thought and blind bias make for irrational opinions and takes.
Palantir is a Wallstreetbets stock, like NVDA. I don't trust Palantir stock or the company as a whole until I see how the market favors or disfavors it when the market starts crashing. TSLA isn't SpaceX, Neurolink, Starlink, etc. Why is it trading so high solely on cars, charging stations and self-driving automation (something Musk keeps saying, "Next year better, I promise")?
Hello Prof. G, I was wondering whether SMCI is truly dishonest or just sloppy? I find it interesting that Hindenberg R shuttered suddenly, it seems. What if Hindenberg was wrong and panicked? It would be great to get your perspective. Great podcasts, sir.
Great discussion about the value of AI for companies/ shareholders. What’s is to stop another software company from displacing PLTR. What is PLTR ‘s moat ?
The tech itself. Their platform has had it put together for some time now. We don't get to see the exact outcomes for government projects. ... but look at the companies that use them and watch the impact there; something like 3M legacy company very boring, and started using PLTR and short order were killing it.
Yes ! Ed's growing up ! Scott looks like he is ready to just let Scott go and all with a smile that says " you picked today to become all grown up " fly away Ed, fly away ! Justin
Try Coronado Springs next time Scott, it's in Disney's Moderate category but they seem to have forgotten to tell the builders. Great food and a beautiful lake on a misty morning.
On the topic active vs passive investing, I think it’s fair to say that active has been overly expensive for a long time, but fees have come down substantially over the past 10 years. Active investors are critical to well functioning markets, as they are the drivers of price discovery. If 100% of global assets were passively managed in market cap weighted indices, the relative value of securities would remain constant. Not only that, but there would be no IPOs. So my point is, active investors perform an important enabling function in markets, and they should be compensated for doing that, but it should be reasonable. There would be no point for Aswath D. to do his wonderful analysis if markets where 100% passive.
There is also this idea called the Grossman-Stiglitz paradox. The idea is that markets cannot be informationally efficient, otherwise there would no incentive for active investors to spend huge amounts on R&D (quants, phds, asic chips, colo). The irony is that deploying R&D to beat market averages becomes a self-defeating cycle, because the more you spend, the more efficient you make markets, meaning you have to spend even more to squeeze out marginal alpha that is essentially going to zero. This kind of problem exists in other walks of live, but eventually active investors look like idiots because their edge naturally disappears, with inevitable consequences for performance and their investors. But as per my previous comment, they are critical to well functioning markets that float a lot of boats, and while their comp is often outlandish, it’s a small drop relative to global returns…
I wish Vanguard would improve their platform / the user experience and add 24/7 support. High expense ratios is not the reason people leave them for Fidelity.
I think Scott needs to be more honest about why his personal portfolio beat the market, it’s almost surely because he took on more risk than that of the market.
The US cannot feed itself as it imports ~70% of its vegetables & 51% of its fruit from Mexico. Ed's outstanding compare/contrast to the hubris of BREXIT is spot on.
Oh Ed. We are so full of ourselves in America. And we as a country will maker bigger mistakes than Brexit, it's coming. Excellent segment with Aswath BTW.
Great point by a Aswath about breaking things, one thing is clear Trump is not thinking about how to fix anything, he just wants to dismantle things. With health care that is going to cause a lot of problems for a large percentage of the US population that rely on the health care system even as dysfunctional as it is.
Guys - the US is enormously dependent (90%) on Mexico and China for electronic modules for automotive, consumer electronics, PCs and key electrical components for appliances and medical devices - just to name a few major categories. There isn't enough electronics manufacturing capability in the US and will take a decade of investment (public/private) and development to approach independence. This would also assume having all of the immigrant labor (legal of course) necessary to fill these types of jobs that average Americans will not do!
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Love that Aswath Damodaran is a regular guest - listening to him is just fantastic.
holy cow, ive watched aswath before on like cnbc but he's so lucid and logical and clear. no wonder hes an acclaimed professor. more aswath please.
Aswath, rocked that podcast. I don’t think I’ve been listening to him carefully enough.
Aswath is so wise, I like how he talks in a cautious, calm, and collected manner.
Aswath is the anti-Dunning-Kruger. He knows so much, yet is very aware of his gaps and is always humble.
I need to see the Venn diagram of people who would listen to this show and still fall for the fundrise pitch
All real property and indexed FORTUNE 500 funds here. 🎉
Reminds me of the saying, If it sounds too good to be true, it probably is.
Present, I like Fundrise (and long before this show), but to each his own
What is fundrise?
Always a delight to see you comment on here Shaq. Would be nice of these guys to have you on!
Aswath is one of the best regulars on this show. Articulates himself so well and has his own thoughts. Great guy.
Ed’s take on the United States being a participant of *a global economy* and comparing it to the mistakes the United Kingdom made is incredibly salient and on the ball.
Ed is a really smart guy and I can tell he works hard to think through the opinions he chooses to disseminate to the audience.
Well done Ed!
Except the UK knew that about the economy and voted on sovereignty because the EU is a regulatory nightmare that even they are suffering from. So why be stuck with that !!!!
love the analysis walkthrough. it tells a concise story and it's easy to follow how he quantified the impact.
For trade, trick!? For trade!@@lisadiane10001
Not you, bud, lisa
@@lisadiane10001yeah I had to give a thumbs up because I thought you had 3
I am sure to listen everytime you have Aswath.
I hear fundrise in my sleep. I hear fundrise when i wake up. I turn to my wife...turns out she is actually an innovation fund...on fundrise. What of my children...
You go to your children's' rooms and find out that they're actually...
Lol
one of the last ivory towers TO FAAALL
My average cost on Palantir is $14 and the largest position in my portfolio. I'm glad that you guys are finally talking about this.
Good for you. I have a small position and had larger limit orders at $28. It never triggered. Added at $53. Will buy an any dips. I will also put new shares in the Roth account.
Aswath Damodaran has one of the clearest, most sensible perspectives of the entire financial landscape. Well done!
As a Canadian, there's been a strong push to "buy Canadian," and many of us have lost trust in the U.S. as a reliable trade partner, even after the tariff delays. While trade with the U.S. will continue, there's growing discussion in Canadian media and among left-leaning Canadians about building pipelines to improve trade with Pacific and Atlantic countries-a surprising shift considering the previous focus on climate change. Americans should understand that Trump's actions are causing long-term damage, and even after his administration is gone, it will take time to rebuild trust.
A tariff is just a monetary incentive to buy local. So telling people to only buy Canadian has the same effect as Canada putting tariffs on the rest of the world.
Not the rest of the world. We are fine with the rest of the world. There’s only one country-the USA-that we will boycott.
Not the rest of the world. We are fine with the rest of the world. There’s only one country-the USA-that we will boycott.
@@BCUGhh Trump's tariffs will only make America POOR again. And this at the same time that his 'punished' countries Canada, Mexico, European countries, China are pushed in the run of a couple of years to a far higher level of progress and prosperity than anyone who's not long sighted can't believe. America will be left far behind, and it will take a lot of effort and time to stabilize again. It's amazing that right now, nobody seems to realize that USA does NOT manufacture anything anymore. It totally depends on foreign products. For the $4 Trillion that the super rich need to buy their tax exemption, they simply dismantle the whole country. They cut medical care from all Americans, cancel all unions' contracts, cut all federal benefits for all Americans, and fire as many as they can, raise taxes for poor, and middle class, pull down Dpt of Education, USAID, fire career federal workers like flight traffic controllers, CIA, FBI agents, etc, anything and everything only to raise these $4 Trillions to pay for being spared of taxes and accumulate enormous, incredible wealth. Musk, Bezos, Zuckerberger, Gates, Thiel, who paid $15 millions for both JD Vance and Blake Masters to be accepted in Senate, and then pushed Trump to accept Vance as VP, and Karp and all the others in the 1% super rich club, have ALL extremely favorable contracts with Dpt of Defense. So, this is the only Dpt that is going to be kept. It'd be interesting to find out how much value are their contracts.
@@BCUGhhthat sounds like MAGA logic
Aswath!!!! Thank you so much you are a true treasure. It is so great that due to technology your thoughts and wisdom can be shared easily by anyone who seeks it. SMART DUDE
I really enjoy having Aswath on so much lately. So insightful and a delight to hear him talk about these complex topics. Thank you for having him back on so often!
this show is full of amazing wisdom... and not a bit of bs!
Great research, narrative and analysis ...
So appreciate following you guys!
SO appreciate listening to Aswath Damodaran!!!
Why do I still need to listen to ads in videos when I’m a UA-cam premium user? I’m sure Prof G would show his rage about it, albeit moderately
i see what you did there
@@klibs8 you’re as smart as Prof G
I agree. They are imbedding them by the UA-camr into their talk. Cheap work around and Google should stop this.
Thanks Scott and Ed. I learned a lot from this episode. This professor Aswath Damodaran : loved how he contextualized the AI landscape by comparing it to 1995. Super helpful indeed!
I could listen to this man all day long. All the take are sharp and on point. Thanks you Prof G. & Ed
Really like this guest and his calm, intelligent, centered vibe. Would love to take his class.
video starts from 21:10, - We need both- DeepSeek AI for accounting finance automation and we need Alt Open AI for Big data analysis, medical research
Elected official in a small town in Canada. I'm bringing forward a motion to request all contractors who work with our town to disclose all beneficial ownership. Multiple local elected officials are looking at how to remove America from our contracts as much as possible. While there isn't likely a huge exposure, that's a multi-billion dollar sector in terms of the work from all local governments.
Today's leaders are going to remember this tariff war forever, no matter what America does. There are so many markets in Canada that are turning away from American suppliers that it will show up as America has a surplus in services with Canada. There was a recent poll that measured how many Canadians are closely following every major news event in the past decade. Trump's tariff war is being closely followed by more people than COVID, more than any other issue in the past decade. Recency bias, perhaps, but America shouldn't be surprised if things like NORAD, Arctic sea lanes, and god knows what else stop being a given and start being a "negotiation."
You want to land planes in Canada like in 9/11? Sure, but it'll cost you. You want to see the nuclear missiles from Russia as early as possible with bases on Canadian land in the Arctic? Sure, but it'll cost you. You don't want us to give another superpower an Arctic naval base [by the time this is relevant, there might be more than one option]? That'll cost you.
Don't blame you.
I LOVE this guy! I wouldn't miss any of your podcast where he is in it. Such a great vision and outlook!
“Where’s my Xanax ?” This is why I love Prof G and Ed. So good. 😊
Aswath is one of my favorite guests. I quickly click on the video, if I see my favorite guests.
Please also make Ruchir Sharma a regular guest of the show. I love Ruchir's insights!
Weren't you encouraging people to sell Palantir at $40? You're a genius!
Waiting for your valuation of the company. Doubt that I get one, since you most likely are one of those who only cares about the stock price...
You win some, you lose some. No one has a crystal ball. Cheers!
Why do you care about someone’s opinion on a stock pick? If you’re that type of person to consider that advice, you got what you’ve deserved
Whenever Scott sees a stock go parabolic, he always tells people to sell. He has very little understanding of some of the companies he’s talking about.
Aswath Damodaran with another homerun! He always brings amazing insights and different perspectives!
You guys are the best. No BS.
15:40 As a vanguard customer, I'd rather see them keep the fees where they were and allocate that money to updating their platform. They can't hold a candle to Fidelity.
Always love when Aswath is on the pod
Thanks for having Prof D on the podcast.
9:10 No country is completely self-sufficient. Even resource-rich nations rely on imports for things like food, technology, or raw materials. Climate, cost, and global trade make total independence impractical. Some countries are more self-reliant but still depend on imports for certain goods.
Excellent and inspiring guest. Thank you.
Excellent analysis from Ed at the top of program. Brexit. Great analogy--and went the distance in research. TY.
Splendid analysis!
I’m going back to listening to the podcast.
Scott and Ed remind me of the movie Harold & Maude! 😅
Seriously though, really good stuff this time.
Love this show. I hate politics but still fascinated on the mechanics of the system…
Thanks this was an hour of my time that I enjoyed
You guy's are amazing ! You give me hope
Has technology made my life better and easier? Definitely yes. Just considering travel-GPS navigation, translation, communication, entertainment, and secure payment systems-travel today is far easier than when I was a kid in the 1970s.
Great guest!
Good episode
8:00s love this section were Ed said "we" to Britain and "we" to the US
Bought PLTR at 25 and sold at 84. Sold at 236% now at 344% 😅
Its hilarious that LITERALLY everyone on the pod gets praise in the comments aside from scott 😂. The lack of critical thought and blind bias make for irrational opinions and takes.
Excellent guest...more of him please!
Excellent
Love the guest!
Great show today, thanks!
Palantir is a Wallstreetbets stock, like NVDA. I don't trust Palantir stock or the company as a whole until I see how the market favors or disfavors it when the market starts crashing. TSLA isn't SpaceX, Neurolink, Starlink, etc. Why is it trading so high solely on cars, charging stations and self-driving automation (something Musk keeps saying, "Next year better, I promise")?
FSD and robots and batteries. Big bets you erroneously discount . Guess you missed all these positions in your portfolio
The Guantanamo Bay analogy or rather comment was pretty humoristique 😂….i might use it myself one day when appropriate…🇫🇷🇺🇸
Hello Prof. G, I was wondering whether SMCI is truly dishonest or just sloppy? I find it interesting that Hindenberg R shuttered suddenly, it seems. What if Hindenberg was wrong and panicked? It would be great to get your perspective. Great podcasts, sir.
Love this guest!
Great discussion about the value of AI for companies/ shareholders. What’s is to stop another software company from displacing PLTR. What is PLTR ‘s moat ?
The tech itself. Their platform has had it put together for some time now.
We don't get to see the exact outcomes for government projects. ... but look at the companies that use them and watch the impact there; something like 3M legacy company very boring, and started using PLTR and short order were killing it.
You hit the nail right on the head regarding Walt Disney World.
Wisdom based on experience, observation, and real-world evidence. Most reasoned predictions about AI industry (as of Feb. 6, 2025) I have heard yet.
Question, what about AMD in the AI market. Could the Deepseek effect benefit them.
Palantir really is a game changing company
Great video. Thank you
Yes ! Ed's growing up ! Scott looks like he is ready to just let Scott go and all with a smile that says " you picked today to become all grown up " fly away Ed, fly away ! Justin
I like this version, "I was hoping someone else would claim you"
Try Coronado Springs next time Scott, it's in Disney's Moderate category but they seem to have forgotten to tell the builders. Great food and a beautiful lake on a misty morning.
Im a simple pimple, I see Aswath I listen to Aswath and press like on the video
“Time for banter” - I live for the banter of Prof G and Ed. What is wrong with me?!
On the topic active vs passive investing, I think it’s fair to say that active has been overly expensive for a long time, but fees have come down substantially over the past 10 years. Active investors are critical to well functioning markets, as they are the drivers of price discovery. If 100% of global assets were passively managed in market cap weighted indices, the relative value of securities would remain constant. Not only that, but there would be no IPOs. So my point is, active investors perform an important enabling function in markets, and they should be compensated for doing that, but it should be reasonable. There would be no point for Aswath D. to do his wonderful analysis if markets where 100% passive.
There is also this idea called the Grossman-Stiglitz paradox. The idea is that markets cannot be informationally efficient, otherwise there would no incentive for active investors to spend huge amounts on R&D (quants, phds, asic chips, colo). The irony is that deploying R&D to beat market averages becomes a self-defeating cycle, because the more you spend, the more efficient you make markets, meaning you have to spend even more to squeeze out marginal alpha that is essentially going to zero. This kind of problem exists in other walks of live, but eventually active investors look like idiots because their edge naturally disappears, with inevitable consequences for performance and their investors. But as per my previous comment, they are critical to well functioning markets that float a lot of boats, and while their comp is often outlandish, it’s a small drop relative to global returns…
Loved Ed’s monologue about Brexit Deja Vu!
I wish Vanguard would improve their platform / the user experience and add 24/7 support. High expense ratios is not the reason people leave them for Fidelity.
So much for Scott to take on international stocks a few weeks ago be in the place to be Ashworth shut that down
Aswath every week please
love Ashwash
Project Tiger has been a huge success
.but forest area reducing in India
Is it possible deep seek used TokTok data?
VOO rocks.
Total return is what you bank .... sure check the expense ratio against the fund/etfs return over at minimum 5 years
Not a fan of Prof G but like Prof Damodaran. Stern '93 MBA
I dont see why we tariffed Canada but from what I can tell. The US is indeed owed
I remember PLTR at $22 then $8. Can’t believe this
Buying Canada's exports is a good deal for both countries.
Saw Prof G on Chief Nerd. Wow, is he insane.
Wonder bread Ed
I think Scott needs to be more honest about why his personal portfolio beat the market, it’s almost surely because he took on more risk than that of the market.
So what?
@ you don’t understand why this matters? Do I need to explain it to you or you are going to ask ChatGPT to tell you why it matters?
@ You are just sour grapes.
@@arzdiamondbacksok, fine! If that’s all you have to say, best of luck to you!
Palantir !!! ✌
The US cannot feed itself as it imports ~70% of its vegetables & 51% of its fruit from Mexico. Ed's outstanding compare/contrast to the hubris of BREXIT is spot on.
Wall st have no idea what Palantir is. The large majority of analysts have been bearish on for the past year or two.
skip ahead to 21:21 Aswath Damodaran
Oh Ed. We are so full of ourselves in America. And we as a country will maker bigger mistakes than Brexit, it's coming. Excellent segment with Aswath BTW.
European living in the UK here: freedom from European Socialism and bureaucracy is priceless.
Would Anthropic make sense similar to Palantir?
Having retired, the Dolphin and Swan for conferences are in my rearview!🎉
Scott - I'm on the Board of - Galloway.
Great point by a Aswath about breaking things, one thing is clear Trump is not thinking about how to fix anything, he just wants to dismantle things. With health care that is going to cause a lot of problems for a large percentage of the US population that rely on the health care system even as dysfunctional as it is.
14:12 YES SCOTT!! take your own advice!! Lol
Yea Alex Karp tells a great story.
Prof G for President 2028!
Scott just started geeking out at 58:38 is he ok
He's not well unfortunately. TDS got him bad :(
Guys - the US is enormously dependent (90%) on Mexico and China for electronic modules for automotive, consumer electronics, PCs and key electrical components for appliances and medical devices - just to name a few major categories. There isn't enough electronics manufacturing capability in the US and will take a decade of investment (public/private) and development to approach independence. This would also assume having all of the immigrant labor (legal of course) necessary to fill these types of jobs that average Americans will not do!
"Xanny handover" had me laughing on the crapper.. I'm sure my colleagues are concerned now.
Can you please do a regular podcast with Aswath as the 3rd host? What a great guest!
Spot on about Brexit Ed!