Aswath Damodaran: PRICELESS LECTURE About The Stock Market (Every Investor MUST WATCH)
Вставка
- Опубліковано 16 гру 2023
- This channel aims to archive some of the lessons the best investors in the world have to teach us.
Don't forget to subscribe HERE: bit.ly/3vcH9a7 👈🏻
_____________________________________
Here are other videos you may enjoy:
Peter Lynch's BEST INTERVIEW EVER (Must Watch for Stock Market Investors)
• Peter Lynch's BEST INT...
Warren Buffett: Is The PE Ratio Useful When Analyzing Growth Stocks?
• Video
Seth Klarman: The CORE Principles of Value Investing
• Video
Bill Ackman: "How I Became a Billionaire Investor"
• Video
Li Lu Reveals His WORST Investing Mistakes Ever
• Video
Warren Buffett & Charlie Munger: The Difference Between GROWTH and VALUE Stocks
• Video
Howard Marks: The THREE Stages of a Bull Market
• Video
Bruce Greenwald: How To Find GREAT Opportunities in The Stock Market
• Video
Joel Greenblatt: The Importance of Margin Of SAFETY in Value Investing
• Video
Tom Gayner: The 4 Must-Know FILTERS for Value Investors
• Video
Warren Buffett: A Tip on Calculating The Intrinsic Value of a Company
• Video
Mohnish Pabrai: The POWER of Share Buybacks
• Video
Warren Buffett Explains How To Invest Like Him
• Video
Li Lu: When Should You SELL a Stock
• Video
Bruce Greenwald: What REALLY is a Good Business (vs. a BAD One)
• Video
Mohnish Pabrai: The Importance of Downside Protection When Investing (MUST WATCH!)
• Video
Terry Smith: How Much Should You Pay For a QUALITY Company?
• Video
Warren Buffett & Charlie Munger: How To Read Annual Reports
• Video
Howard Marks: How To Become a SUPERIOR INVESTOR (Must Watch!)
• Video
Mohnish Pabrai: Why Costco is Such a GREAT BUSINESS (All Truth)
• Video
Chuck Akre Explains How To Outperform The Market (THE TRUTH...)
• Video
Warren Buffett: "Volatility is NOT a Measure Of Risk!"
• Video
Joel Greenblatt: How To CONTROL RISK in The Stock Market
• Video
Mohnish Pabrai Explains The Difference Between Charlie Munger and Warren Buffett
• Video
Tom Gayner: The TRUTH About Intrinsic Value (Not The Same as Book Value!)
• Video
Warren Buffett: How to Start Investing with a SMALL SUM of Money
• Video
Mohnish Pabrai: How To Find HIDDEN GEMS in The Stock Market
• Video
Terry Smith: What Really Is A Quality Company (PRICELESS)
• Terry Smith: What Real...
Charlie Munger with a LIFE-CHANGING Speech About Investing (MUST Watch!)
• Video
Howard Marks: The BIGGEST Investment Opportunity of the Last 30 Years
• Video
Mark Zuckerberg: The PAINFUL TRUTH About Apple (AAPL Stock)
• Video
Mohnish Pabrai: How to Calculate Intrinsic Value WITHOUT EXCEL (Simple Trick)
• Mohnish Pabrai: How to...
Terry Smith: How to Find Accounting Mistakes (5 EXAMPLES)
• Video
Thomas Russo: "This Is What I Look For in a Business!"
• Video
Charlie Munger: "BE CAREFUL With These Companies!"
• Video
Mohnish Pabrai: "How To Get HIGH RETURNS with LOW RISK" (Method Revealed)
• Video
Li Lu: The UNDENIABLE TRUTH About Value Investing
• Video
Howard Marks with a PRICELESS Lecture Revealing ALL Stock Market Secrets
• Howard Marks with a PR...
Mohnish Pabrai: The SECRET To Find 100 Baggers (100x Returns)
• Video
Seth Klarman's BEST INTERVIEW EVER at Harvard Business School
• Seth Klarman's BEST IN...
Li Lu: "This Is What I Look For In a Business!" (FULL EXAMPLE)
• Li Lu: "This Is What I...
Jack Bogle Reveals The SECRETS of Asset Allocation | (John C. Bogle)
• Video
Bill Ackman: "You Just Need To Do This!"
• Video
Aswath Damodaran Reveals ALL SECRETS About Stock Valuation
• Aswath Damodaran Revea...
How Mohnish Pabrai Crushed The Market By 1,103%
• How Mohnish Pabrai Cru...
Terry Smith and Free Cash Flow Yield
• Terry Smith and Free C...
Howard Marks' Speech Will Change Your Investing Future
• Video
Mohnish Pabrai: How To AVOID Value Traps
• Video
Joel Greenblatt: The EASIEST Way To Value A Business
• Video
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
Mind if I ask you to recommend this particular coach you using their service?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Professor Damodaran is the gold standard of valuation. Lucky to listen to him free on YT :)
how come he is not a billionaire?
@@AverageMm2Sweat he’s not an entrepreneur, a value investor 😁.
😊😊😊😊
@@AverageMm2Sweatvalid question...
This is a gem of a lecture. Griping, riveting and insightful. I now understand why sir is called God of Valuation 👏🏼
very impressive lecture. Funny and serious at the same time. Remarkable
Op-😢
People from India have a general cliché sycophantic link with the word “sir”. One hears it overall when one visits the country. They claim it has to do with “respect”, and such other noble words. That could be partly true. But as a witness, I can say with certainty a lot of it has to do with sycophancy in today’s times. Absolutely disgusting!
Damn, ten minutes in and I can tell this is gonna be great, thanks for posting!
Absolutely brilliant! Pure artistic expression. The man is a genius.
Probable, plausible, possible....that technique will stick in my mind forever
WOW / YOU ARE A GOOD TEACHER / YOU OPEN MY EYES /
that’s the best 1-hour investment/valuation lecture, covering different aspects with great explanations
So good!
As a frugal simpleton always liked basic math to save money on budget, expenses and later the magic and power of getting compound interest vs paying interest and love hearing and telling a good yarn.
Tried my hand at investing in individual companies did ok but too easy to get emotional about after tax money invested in individual companies. Did so much better (life changing for a small fish) with hammering pre-tax dollars into Vanguard accounts, especially the large cap ones that have the handful of the biggest companies that seem to make the majority of all the profits.
Thank you for the content, truly enlightened
This is gold for investors and traders.....understanding probabilities is the the key to calculating risk and limiting your downside. Another valuable insight is looking at investments in terms of evolving narratives, instead of a fixed or finite reality.
One of my favorite prof, he is rock star because he inspires by his level of engagement with his class. I wish him continued success and happiness
Wow. Simple, Lucid and Awesome.
Your story drives your valuation
Too good of a lecture❤❤
Absolutely enthralled by the organic wisdom shared by the lecturer - undeniably one of the greatest!
Great lecture .. very captivating!! Thanks you for the insights Sir !!
Wow, so many gems in this talk, especially the bit about capex at the end. Also LOL $MSFT undervalued as an "Old tech" company - great call in 2017.
Guided here by his Prof G podcast interviews - so eloquent and concise
Wow! This is one of those lectures which teaches uou something deep and basic about not just investing but also life in general. We pursue the desire to understand so we can control outcomes but luck plays a greater role in life than we want to admit.
Bro if u understood that much then plz ans-
How to come up with a number to each part of our story?
Like how the market is $100 B & not 80 or 120 B.
How its margins are 40% and not 30 or 55
How u say it will capture 10% market share and not 5% more or less?
He would have become a great salesman! I m not even interested in investing in stocks, but this lecture is so captivating that I watched the entire video. Now, I am going to do my research to invest in stocks. Kudos to you, sir.
I immediately liked this gentleman and his presentation. This kind of insight is worth its weight in gold.
He’s a legend! And it’s good that you also discovered him!
In fact, it is priceless knowledge transfer ! Hundred likes from my side !!
Wow. Brilliant and BEST master class on the Investing, Businesses & Valuation.,.
Amazing delivery by the Prof
Absolutey fantastic teaching.
Thank you for posting this event.
I like this!!
This a great marketing class…how to sell.
This lecture validates: diversity is the spice of life!
Love it!!👏🏾👏🏾
I bought a certain stock in my country after seeing it rising, month after month. Just after I purchased the share pricing started falling untill I sold at loss. This lecture has really helped me. Thank you.
Thank you for sharing this!
I like your class very much sir. You teach like in the IIM'S and the IVY LEAGUE institutions. God bless you.
Stories are never written, but re-written.
It's a wow lecture...good examples with insightful stories...end of the day luck plays a big role...
Fantastic lecture by Professor Aswath. While his content is great and I liked the way he has engaged with audience and carried the story. Thanks a lot
Great great presentation! Changing stories. Netflix up tp 500? Tesla >2mln per year. All evolving. I’m too old but would liked this great prof to be my teacher!!
Masterpiece, offered by a Master.
Your story drives the valuation -- Damodaraan
Brilliantly sincere ...my suggestion is learning technical analysis first ..as a self-defense instrument. If value and technical confim both ..then you are most probably in a very high probability scenario.
Wow, very authentic lecture
Amazing narrative to make a point, could have said it in a thousand different ways and did it in one of the best ways possible
This class is too good to be free!
Thanks for posting this.
I love this so much
Very informative, thought provoking.!!
Priceless 💯
Good lesson!
It would be nice if you’d mention the date on which each presentation you post took place.
Favourite book .." Money ball "..
...
When the valuers are looking to other valuers in order to value such as with “Keynes beauty contest” vs the game-proper based upon Macro-Economic extrinsic factors such as excess liquidity due to loose Federal-reserve policies & excess fiscal stimulus, it is a whole another level 😊
Amazing. Mind boggling 😮
Now that, is a smart guy
I remember you correctly valued zomato and it reverted to mean and the price you projected... Amazing 🌷
I heard about him during the Adani enterprises crash but I think Adani did not go as low as he predicted
@@mx.j262 and just look at adani now
Loved the explanation! Now I'm curious what are the 10 worst markets?
Excellent lecture
Gr8 lecture.
Thank you.
My deginition of capex ASWATH DAMODARAN
Great lecture!
Very interesting..😊
Uber== ride match maker, fortunate to come across this narrative!!
Prof damodaran is so crisp, fluent and quick with his English and content that I have to tune playback speed to 0.75X from normal - as I kept rewinding multiple times 😅
😂
When was this class recorded? How do you select lectures that are generic enough and important enough to archive?
..so soporific
Thnx
Great teacher! Had him in 03 and we used to called him Apu! He laughed and we all laughed
Like the way you structure the task.
With tesla , you failed because you are not aware
Of the evolving story. It takes effort to keep up
With the evolution.
Excellent
Is it possible to download the slide set you used during your lecture?
Lucky to be here
While this provide an actual strategy on investing and how to value stocks. After buying stocks for just over 3 years, i'm struggling to make gains. How do i adjust or revamp my 250k portfolio? Should i consider some defensive investments?
In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. looking at the worth of your portfolio, you should consider financial advisory
Agreed, my portfolio is well-matched for every market season yielding 85% from early last year to date. All thanks to my advisr. We are currently working on a 7 figure ballpark goal, tho this could take another year. IMO, financial advisors are the most sought-after professionals after doctors.
great gains there! mind sharing details of your advisor pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help build wealth over time
She goes by ‘’Jennifer Leigh Hickman’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thank you for sharing, I must say, Jennifer appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
valuation legend
I listened to the whole lecture and it further reinforce my decision to buy etfs and index funds to boot! I am not interested enough to go that route even though I am an econometrician, or perhaps it ''s because I'm an econometrician. I am not curious about those stories perhaps also because I focus on macroeconomics which is specious enough for me. Entertaining lecture though.
Yes, and just put money in every month-easy
@@donchristie420 Indeed! In fact what happened in my case. I gave my son £800 for passing 8 GCSE subjects (UK) at age 16 and he asked me to save it for him; I dumped in into an index etf (the FTSE 100 in fact) and left it for some year and later moved it to another fund that looked like an index fund, walks like an index fund, and quacks like an index fund, although it is not defined as an index fund nor marketed as an index fund (it is an active fund) - I won’t say the name because I don’t want to start a debate about Fundsmith. Anyway, it showed a better rate of return and thought I recognised that animal and it looks fast, so I put it there and left it. Now 20 years later, his £800 is worth £16,354.69, = 20.44337 times more - I checked it on 27 November, Oh a month ago today! I haven’t lost a nanosecond of sleep and I’m sure there were years where I didn’t even bother to check it because it would pretty much take the collapse of the Western financial system to lose his saving in such an ‘index’ fund. My son, at least that one, is not a spendthrift and I have thought for a while that I really should give him back his money - but he has always refused to take it when I have offered it, though I tell him “go on take it and you can replace your 25 year old Toyota with a second-hand pre-pubescent Tesla, or even perhaps a new BYD if you’re prepared to pay on installments”. Hmmm, I think it’s a Civic … that would mean it has to be a Honda. … hmmm… Nowadays, I'm attracted to a Global Index Fund because, among other things, that quacking animal cost too much (over 1%!) so I am thinking Vanguard or such low cost GIF. Hmmm… low cost index, yum!
When was this lecture given and where?
1:20:40 here's my definition of faith. When you're 85 on death bed, you made 8.1% by active investing, spending few hours every week the last 60 years, if you put in SPY you would have made 8.2% - are you ok with that? If no, then don't play, just put in SPY. If yes, need to enjoy the process.
1:22:30 how can you tell your analysis was correct/did a good job (resulting)? LUCK is the dominant paradigm in this business.
Let me admit, this was the first time I saw him talk pure subject, pure domain knowledge... Yes it was impressive. Till now all his videos I have seen in one way or other were scornful or mocking the decisions and govt. of his country of origin which made it uncomfortable for me to appreciate his mastery (most expats do that) ... Even this video I had opened reluctantly and was pleasantly surprised !!
Edit: I find the story telling beautiful and impressive..... though not exactly a technical lesson on valuation !!
I agree , expected more technical info ,
Not a very lively xommebt section but great lecture
The Stock Market Doesn't work anymore on Valuation....but on Bubblation.
Exactly. You have to just get lucky by buying bs companies.
True
Dear Prof Aswath, I'm one of the 100s of 1000s who are very impressed with your lectures. I'm curious to know: Isn't it a good idea to value countries exactly following the same model as you use to value companies? The purpose may be to invest in the country, either in primary market or secondary market, or even as the promoter of a company. If yes, won't it be a better alternative to info provided by rating agencies? Why are there no such agencies rating countries? Thanks
I like the thought. In my opinion, getting numbers is far easier than getting the stories right... Eg: If it's a democratic country, you never know who'll come to power next and how they would change the growth story, and how much foreign investors would be sold on the revised story.
Hello Sir, i hope I understood the question correctly but there is some difficulty related to this question. Countries don't provide Cashflow Statements, their GDP Growth i highly related to the currencies and to the businesses they have: Let's take one example to illustrate the dificulty: Russia's GDP growth / decline is highly related to the oil and its price they sell to other countries and how strong their own currency is. It is also a country without democracy. As summary: In valuation all these country factors (inflation, political risks, currency risk, etc.) go into the equation of a country-risk-premium which can be achieved in different ways (it depends a lot how good a country can be tracked). Often it can be calculated as a difference between the bond rate of the country minus a riskfree rate. At the moment an investment in Russia should lead to a higher return to compensate for the higher risk one takes. A country risk should always be implemented in company valuation.
the oompa loompas im dying. this guy is gold
Underappreciated book acc to Prof Ashwat is Money ball.
The only lesson i got from this is that you can go wrong even if youre an expert
2:18 Hidden meaning in the book. There are lots of hidden meanings in financial statements
33:30 possible plausible probable ?
ok, but what are the returns on his personal portfolio?
A price is a number from today multiplied by a story about tomorrow.
When is this lecture circa from?
Ferrari earings up 48% Y/Y. Stock 2017 about $95, now it is $327
they went public, and jumped onto the hybrid wagon, and the smaller engine but use turbos because theyre more environmentally conscious now, that helped them
Turns out the bit about number crunchers never really becoming good story tellers is not really true. Look at Mr Damodaran's transformation to agreat story teller !!
Your post is the perfect example about his comment regarding his mother-in law and the VW. You are using a single anecdote, him, as your proof that number crunchers have an easy time telling stories. Well done!
Q
Him not being a storyteller is a story he tells so that his more numbers oriented students can dare to venture into storytelling
Watching this episode in middle of new year party
All I can say is he is a really good story teller........Up to you,you believe it as a fiction , fantasy or autobiography
Everybody is. Some via a lousy comment some via a genuine lecture
At US market cap of 55 tn plus, how much of over valuation is this?
How to come up with a number to each part of our story?
Like how the market is $100 B & not 80 or 120 B.
How its margins are 40% and not 30 or 55
Modern design financial system is totally dependent on 5000 years ago.
nice
Have story to back your numbers, he mentioned Uber&Ferrari story.
This must be from prior to 2012? He's not infected with the mind virus. He's exuding joy and love for his craft.
Uber closed at last day of this year $126.7B valuation.... But still, extremely good lecture, really enjoyed it.
Netflix. Only revenues of 30bn, but still at 5 hundo and actually thats after a 7to1 split in 2015.
And Tesla produced 1.8 mln cars in 2023. x3 more than in the evaluation. The lecture is good, but you have to use your own evaluation for the lecture as well 🤓
I like the story of Karoooo
in which year was the lecture recorded?
" old tech "
" Middle age tec "
" new tech '
..SCIENCE OF SUCCESS ....
possible, plausible, probable
I wanna know where did Tesla find all the Umpalumpa