theartofvalue

I discuss the latest interview of legendary value investor Howard Marks, with Bloomberg's David Rubenstein, in which Marks discusses the massive sea change his sees happening in financial markets, what in means, and what he thinks investors should do. See below timestamps: 00:00 The massive sea change in financial markets 01:10 Declining and ultra-low rates since 1980 01:43 The Howard Marks Sea Change Memo 02:44 The importance of rates on markets 04:38 The end of the easy money environment 05:41 The desired rates setting 06:24 How portfolios should be different than before 08:34 A rates prediction Related episodes: How Howard Marks Predicts Each Stock Market Crash & Recovery https://youtu.be/zTpYzCcMkls Howard Marks Says Historic Stock Market Sea Change Has Begun https://youtu.be/ie_4N3v-cDs Buy JJ A Coffee! https://www.buymeacoffee.com/jjprojects The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the pod, thanks! I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

This Alibaba stock (BABA stock) news update looks closely at Alibaba's upcoming IPO of its significant logistics arm, Cainiao. See below timestamps: 00:00 The split-up of Alibaba and the Cainiao IPO 01:09 Latest disclosures on the Cainiao IPO - benefits of the IPO 03:59 A closer look at the Cainiao logistics business 06:31 Recent financial results and potential growth 07:48 First Alibaba IPO of more Related episodes: Alibaba Reveals Break-Up Plan! | Big BABA Stock Upside? https://youtu.be/spwgEGJlxmc Alibaba Update: Cloud Spinoff & More Coming https://youtu.be/KBQBNM_-icI The main investment brokerage I use to buy international stocks, and to hold cash, isInteractive Brokers (referral link):https://ibkr.com/referral/john5664 Usinga referral link helps support the show, thanks! I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

I summarize and discuss the latest Jeremy Grantham interview, with The Compound and Friends, in which the billionaire investor and financial bubble historian again discussed the super-bubble he currently sees in the US stock market in 2023, and in global real estate markets. See timestamps below for sections: 00:00 Jeremy Grantham bubble historian or eager permabear? 01:41 Calling the exact bottom in 2009 02:25 Are we in a major stock market bubble? 03:40 The global real estate bubble 05:28 Grantham's investing strategy during the bubble 06:13 Shorting the Russell 2000 08:26 Long non-US equities 08:55 Is it different this time? 10:06 The biggest bubble in history 11:03 Could it be different because of the US tech megacaps? 13:09 The next 7 years Related episodes: Jeremy Grantham: Super Bubble Bursting, Recession Imminent https://youtu.be/ELQVtf5ZIeM Jeremy Grantham: AI Boom Pauses Super-Bubble Bust! https://youtu.be/ATP0GGON2B0 Referenced interview: The Bubble Hasn't Burst Yet I TCAF 110 @TheCompound https://youtu.be/aanwMfrSjP0 I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Using a referral link helps support the pod, thanks! The main investment brokerage I use to buy international stocks, and to hold cash at good interest rates, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

Constellation software is high-quality serial acquirer company with an incredible capital allocator Mark Leonard leading it. Constellation Software stock has produced excellent stock market returns for many years. This episode is a primer on Constellation Software, its legendary founder and President Mark Leonard, and its recent European spin-off Topicus. See timestamps below for specific sections: 00:00 Mark Leonard, Constellation Software and spin-off Topicus 00:33 Who is Mark Leonard? 00:51 Constellation Software stock returns over time (TSE: CSU) 02:02 The founding of Constellation Software 02:48 Influence of Mark Leonard's investing mentor Steve Scotchmer 04:39 The focus on Vertical Market Software businesses 05:48 Business attributes Leonard looks for when acquiring 07:13 Constellation Software, a super serial acquirer 08:32 Consistently high returns on capital 09:00 Superior capital allocation within a serial acquirer model 11:35 Holding company structure - many small parts, strong whole 12:22 The Topicus spinoff - Vertical Market Software in Europe 14:33 Topicus stock performance so far (CVE: $TOI) I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Using a referral link helps support the pod, thanks! The main investment brokerage I use to buy international stocks, and to hold cash at good interest rates, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

In two of the latest Mohnish Pabrai interviews, the well known value investor and fund manager discussed why he thinks Tencent is a superior company to Alibaba, indicating that he thinks Tencent stock should perform better than Alibaba stock over the long term. Pabrai sold BABA stock and switched it for a stake in Tencent, via a company called Prosus. Pabrai provides a brief and partial Tencent stock analysis, comparing it with Alibaba. Timestamps 00:00 Mohnish Pabrai on Alibaba vs Tencent 00:33 Switching from BABA stock to Tencent, via Prosus 01:27 Tencent's Pony Ma, an extraordinary entrepreneur 02:32 Why BABA and Tencent investments haven't worked so far 03:56 BABA and the too hard pile 05:02 Tencent getting an easier ride: Pony Ma vs Jack Ma 06:23 Benefits of investing in smaller companies globally instead Related episodes: Guru Portfolios Q2 2023: Pabrai, Akre, Klarman, Gayner https://youtu.be/oxAXpnu3oXY Alibaba Earnings - Return to Growth! | BABA Stock https://youtu.be/cxh_-fCWjxU Alibaba Stock: CEO Quits! George Soros Buys BABA Stock https://youtu.be/FbUoblWv50s Chris Mayer 100 Baggers: Stocks That Return 100 to 1! https://youtu.be/59CuGd2aAwg Investing Books mentioned: 100 Baggers: Stocks That Return 100-to-1 and How To Find Them, by Chris Mayer (referral link) https://amzn.to/44ZJk0f Investing for Growth: How to make money by only buying the best companies in the world, by Terry Smith (referral link) https://amzn.to/3EFZXmV Using a referral link helps support the pod, thanks! The main investment brokerage I use to buy international stocks, and to hold cash at good interest rates, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

This Alibaba stock (BABA stock) update analyzes why Alibaba CEO Daniel Zhang has quit, just as he was about to transition to lead Alibaba Cloud ahead of its planned spinoff. Next we look at the news that the planned Freshippo IPO is being delayed, and the reason why. Finally, we examine the news that legendary investor George Soros has bought some BABA stock, and we look at which other super-investors currently own BABA stock. Timestamps 00:00 Three Alibaba news highlights 00:19 Alibaba CEO Daniel Zhang steps down 03:28 Zhang Leaving Alibaba but not really 06:03 Why is Freshippo IPO is being delayed 07:21 How the BABA stock price has reacted 08:22 Investor George Soros buys Alibaba stock 11:34 Other super-investors who own BABA stock Related episodes: Alibaba Earnings - Return to Growth! | BABA Stock https://youtu.be/cxh_-fCWjxU Alibaba Reveals Break-Up Plan | Big BABA Stock Upside https://youtu.be/spwgEGJlxmc Alibaba Update: Cloud Spinoff & More Coming https://youtu.be/KBQBNM_-icI?si=8i7oVVANrZUH3yuI The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the show, thanks! I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

I summarize and discuss the latest Jeremy Grantham interview, with Bloomberg Wealth's David Rubenstein, in which the billionaire veteran investor Grantham discussed the super bubble he currently sees deflating the US stock market. Grantham believes the deflating of the super bubble is now being prolonged by a new artificial intelligence (AI) mini bubble, but that the US stock market crash will continue, leading into a US economic recession lasting deep into 2024. Timestamps: 00:00 Jeremy Grantham interview intro 00:39 Grantham the financial doomsday oracle - predicting market bubbles 01:42 Deflating of the super bubble leading to recession 02:42 Learning to identify and resist a stock market bubble 04:11 2021 tech bubble: one of the great stock market bubbles 04:42 Will there be a US recession in 2023 or 2024? 05:51 AI bubble pausing the super-bubble bust 06:19 Will Jeremy Grantham be right or wrong? Related episodes Jeremy Grantham: AI Boom Pauses Super-Bubble Bust https://youtu.be/ATP0GGON2B0 Investor Jeremy Grantham: Super Bubble Enters Final Phase https://youtu.be/tTFO3Qn5e20 Investor Seth Klarman on the Everything Bubble https://youtu.be/C4rs2M_lOKw Stan Druckenmiller Still Predicts Hard Landing Recession https://youtu.be/8Ue-etn4E74 The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the show, thanks! I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

In TSLA stock news today, this update includes a look at recent Tesla stock price movements, a brief look at the new Tesla Model 3 update, and the significant price cuts to the Tesla Model S and Tesla Model X, as well as the surprise price cut to Tesla FSD! Timestamps 00:00 Tesla news intro 00:25 Tesla stock price update 02:49 New Tesla Model 3 update 05:08 Tesla car price cuts 05:50 Tesla FSD price cut 07:38 Are Tesla price cuts good for investors? 08:52 Chamath Palihapitiya's take on Tesla price cuts 10:57 Short seller Jim Chanos' take on Tesla price cuts 12:01 Final thoughts Related episodes: The Art of Value: Tesla Stock playlist https://youtube.com/playlist?list=PLrNjj1l3MS7UkaBPMBFJF26HHxpUgH9zQ&si=3vm88_m1NpQXt-yn The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the show, thanks! I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

This Alibaba stock update includes a closer look at BABA stock in relation to the current Chinese economy and China stock market, including new Chinese government measures to support the stock market. I also compare the performance of BABA stock to younger megacap competitor PDD stock (PDD Holdings), which operates Pinduoduo and Temu. Timestamps 00:00 Alibaba stock update intro 00:20 China's measures to support the stock market 01:35 Is China uninvestable? 02:27 China's real estate market crisis 03:44 Positive Alibaba news - Alibaba Cloud AI development 06:56 Alibaba stock (BABA) performance 08:40 BABA stock vs PDD stock performance Related episodes: Alibaba Earnings - Return to Growth! | BABA Stock https://youtu.be/cxh_-fCWjxU Alibaba Reveals Break-Up Plan | Big BABA Stock Upside https://youtu.be/spwgEGJlxmc?si=qaWComlNbSC2ZiIE Alibaba Update: Cloud Spinoff & More Coming https://youtu.be/KBQBNM_-icI?si=8i7oVVANrZUH3yuI China Stocks UNINVESTABLE or HISTORIC VALUE OPPORTUNITY https://youtu.be/qfrjfIEx1vw The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the show, thanks! I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

This episode includes a summary and thoughts on the Alibaba June Quarter 2023 Results, in the context of the current China economic backdrop and the huge drop BABA stock has had since its peak in late 2020. Timestamps 00:00 Alibaba earnings in the China economic context 01:55 High level financial results - growth and efficiency 03:58 Cash flow and cash allocation 07:14 Individual business segments intro 07:30 Taobao and Tmall Group 08:51 Alibaba International Digital Commerce Group 09:32 Local Services Group 09:58 Cainiao Smart Logistics Network 10:38 Cloud Intelligence Group 11:44 Digital Media and Entertainment 12:25 All Others segment 12:45 Final thoughts on the Alibaba Results Related episodes: Alibaba Reveals Break-Up Plan | Big BABA Stock Upside? https://youtu.be/spwgEGJlxmc?si=JSvlBYfVY8eyWvL0 Alibaba Update: Cloud Spinoff & More Coming https://youtu.be/KBQBNM_-icI?si=8i7oVVANrZUH3yuI Alibaba Full Year Earnings Update | BABA Stock https://youtu.be/caAUsjmMGRw?si=sm-y8SCrGg4B6K9u The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the show, thanks! I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

Legendary "Big Short" Investor Michael Burry just revealed a new big short! I look at how Burry's shorting the US stock market, and I also take a look at his new long stock portfolio updates. Timestamps: 00:00 Michael Burry Intro 00:24 Michael Burry's 2 new big short positions 03:34 Burry's pessimistic outlook 04:40 Past and future SPY and QQQ 06:41 Burry's Q2 long stock investments 08:27 Burry's Q2 sold stocks 10:12 Deep value + macro investing 11:25 Net-flat market for next decade? 12:53 Final thoughts Related episodes: Guru Portfolios Q2 2023: Pabrai, Akre, Klarman, Gayner https://youtu.be/oxAXpnu3oXY Guru Portfolios Q2 2023: Li Lu & David Tepper https://youtu.be/shsDsTjUQN8 The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the show, thanks! I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

Here's a detailed look at the stock portfolio updates of two guru or superinvestors from Q2 2023: Li Lu of Himalaya Capital Management and David Tepper of Appaloosa Management. See timestamps below for investor sections. Timestamps: 00:00 Li Lu and David Tepper Intro 00:15 Li Lu portfolio overview 01:10 Micron Technology (MU) 02:29 East West Bancorp (EWBC) 02:53 Postal Saving Bank of China (SHA: 601658) 03:33 David Tepper portfolio overview 03:46 Nvidia (NVDA) 04:44 Tepper stock buys and sells 08:13 Alibaba (BABA) 10:20 Uber (UBER) 11:20 Pinduoduo (PDD) 11:48 Previous update: Pabrai, Akre, Klarman, Gayner Related episodes: Guru Portfolios Q2 2023: Pabrai, Akre, Klarman, Gayner https://youtu.be/oxAXpnu3oXY Everything Mohnish Pabrai Said About Investor Li Lu https://youtu.be/rqz0_soraHI Why Druckenmiller Owns Nvidia Despite "Nosebleed Territory” https://youtu.be/QP496jwcumk Crucial Reason Mohnish Pabrai is Buying Micron: OLIGOPOLY! | MU Stock https://youtu.be/moqHjmcItFg I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Using a referral link helps support the show, thanks! The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

Here's a look at the portfolio updates of four guru or superinvestors from Q2 2023. The investors include Mohnish Pabrai, Chuck Akre, Seth Klarman, and Thomas Gayner. See timestamps below for investor sections. Timestamps: 00:00 Guru portfolios Q2 2023 Intro 00:26 Mohnish Pabrai - Pabrai Investments 03:04 Alpha Metallurgical Resources (ticker: AMR) 07:00 Consol Energy Inc (stock ticker: CEIX) 08:25 Brookfield Corp (stock ticker: BN) 09:52 Micron Technology (stock ticker: MU) 10:58 Chuck Akre - Akre Capital Management 14:56 Thomas Gayner - Markel Asset Management 20:11 Seth Klarman - Baupost Group Related episodes: Crucial Reason Mohnish Pabrai is Buying Micron: OLIGOPOLY! | MU Stock https://youtu.be/moqHjmcItFg Everything Mohnish Pabrai Said About Investor Li Lu https://youtu.be/rqz0_soraHI Chuck Akre Said This About How to Find 100 Baggers https://youtu.be/xoKe1AvquTI Investor Seth Klarman on the Everything Bubble https://youtu.be/C4rs2M_lOKw Guru Portfolios: Buffett, Pabrai, Li Lu, Akre, Ackman, Tepper, Gayner https://youtu.be/PfnuMxrVAhc I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Using a referral link helps support the show, thanks! The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

Warren Buffett, founder and CEO of Berkshire Hathaway and arguably the greatest investor of all time, has some simple rules for successful investing. I look at seven of Buffett's top rules that could help us improve our investing returns over time. Timestamps: 00:00 Warren Buffett's simple investing rules - Intro 00:14 First investing rule 02:35 Second investing rule 03:35 Third investing rule 05:08 Fourth investing rule 06:35 Fifth investing rule 08:20 Sixth investing rule 10:07 Seventh investing rule 12:30 Final thoughts on Buffett's investing rules Related content: Warren Buffett & Charie Munger: Best Investing Opportunities https://youtu.be/URCZdkj3GqQ Berkshire AGM 2023 Highlights: Warren Buffett on Elon, EVs, Apple https://youtu.be/V6SGsxYN7tw The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the show, thanks! I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

JJ discusses the classic stock investing book 100 to 1 in the Stock Market, in which author Thomas Phelps, after decades of research, reveals what it takes to find and hold stocks that can deliver 100x returns for stock investors. Timestamps: 00:00 100 to 1 in the Stock Market intro 01:06 Buying right and holding on 02:31 First attribute to look for 03:27 Second attribute to look for 03:50 Third attribute to look for 04:11 Fourth attribute to look for 04:29 Why holding for the long term is so important 06:58 How much should we pay-up for quality? 09:28 Final thoughts Related content: Chris Mayer 100 Baggers: Stocks That Return 100 to 1! https://rumble.com/v2hzlzw-chris-mayer-100-baggers-stocks-that-return-100-to-1.html Books mentioned in this episode: 100 to 1 in the Stock Market: A Distinguished Security Analyst Tells How to Make More of Your Investment Opportunities by Thomas Phelps (referral link) https://amzn.to/43WfB7M 100 Baggers: Stocks That Return 100-to-1 and How To Find Them by Christoper Mayer (referral link) https://amzn.to/3qnUI7J Using a referral link helps support the pod, thanks! The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

JJ discusses the latest Memo from legendary value investor Howard Marks, Taking the Temperature, in which Marks explains his strategy of taking the temperature of the stock market at any given time. Marks has made only 5 stock market calls since 2000, and got them right. He thinks we can do it too. Timestamps: 00:00 Howard Marks, Taking the Temperature intro 01:15 Jan 2000 : Calling the Dotcom Bubble bust 03:40 2004-2007: A slow developing train wreck 05:26 2008: Subprime and the Global Financial Crisis 06:45 Late 2008: Putting money to work in a cold market 08:09 2012: The death of equities? Déjà vu all over again 11:09 March 2020: Market panic and fear - a time to buy 13:11 How we can make correct market calls 15:27 Stock market pattern recognition Related content: Howard Marks Says Historic Stock Market Sea Change Has Begun https://rumble.com/v2bnl4y-howard-marks-says-historic-stock-market-sea-change-has-begun.html Investing books featured in the episode: Mastering The Market Cycle: Getting the Odds on Your Side by Howard Marks (referral link) https://amzn.to/3qdVK6g Devil Take the Hindmost: A History of Financial Speculation by Edward Chancellor (referral link) https://amzn.to/3Ykgw0C Using a referral link helps support the pod, thanks! The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

I summarize and discuss what investor Mohnish Pabrai has said in recent Q&A interviews about his friend and colleague, legendary investor Li Lu. Timestamps: 00:00 Mohnish Pabrai on Li Lu Intro 00:20 Why Charlie Munger gave Li Lu $80 million to invest 00:55 How Li Lu became a great investor 03:11 Looking for investing anomalies 04:39 How Mohnish Pabrai got to know Li Lu 05:17 An missed opportunity from Li Lu 06:00 A captured opportunity from Li Lu: Moutai The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the pod, thanks! I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

I summarize and respond to what famous "Big Short" investor Steve Eisman is currently predicting for US the stock market. Eisman was recently interviewed by CNBC about the recent US stock market melt-up, and the current economic environment. Timestamps: 00:00 "Big Short" investor Steven Eisman intro 00:23 Most anticipated recession and the market melt-up 01:32 Time to take profits or hold? 02:24 Do higher rates matter? 02:37 "Growth stocks" vs ""Value stocks" 03:35 What happened to the banking crisis? 04:58 The Magnificent Seven stocks and the AI Boom 05:39 My final thoughts Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

In this episode I summarize and discuss a talk by investor and fund manager Mohnish Pabrai on US stock market bubbles since the 1920s. We look at the Motors Bubble, the Tronics Bubble, the Nifty-Fifty Bubble, and the Dotcom Bubble. I also discuss very recent market bubbles, including the EV bubble and emerging AI bubble. Timestamps: 00:00 Mohnish Pabrai stock market bubbles Intro 00:22 The Motors Bubble (1921) and the EV Bubble (2020-21) 02:40 The Tronics Bubble (1959-62) and the emerging AI bubble (2023-?) 04:23 The Dotcom Bubble (1997-2000) 06:49 The Technology Innovation Hype Cycle 07:32 ARK Innovation ETF (ARKK), EV sector, AI boom - 2020-23 09:07 Stock market: new blood and short memories 10:02 Rhyming with the Dotcom Bubble - 2020-21 11:19 The Nifty-Fifty Bubble and bust (early 1970s) 12:49 A shock to the system Related episodes: Mohnish Pabrai on Mistakes, AI Euphoria, Nvidia, Microsoft https://youtu.be/zs7pdV3fSJc Why Druckenmiller Owns Nvidia Despite "Nosebleed Territory” https://youtu.be/QP496jwcumk Mohnish Pabrai's Presentation and Q&A at MDI, Gurgaon on December 22, 2015 https://youtu.be/OFkApI6zZtY As seen in this video, I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (refferal link): http://tikr.com/theartofvalue Using a referral link helps support the pod, thanks! The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

In this episode I discuss the young Canadian billionaire investor and entrepreneur Andrew Wilkinson. He's the co-founder of Tiny Ltd , which has been labelled a baby Berkshire Hathaway of Tech. It's a small-cap holding company comprising many previous company acquisitions, start-ups, and company investments. Timestamps: 00:00 Andrew Wilkinson and Tiny Ltd intro 00:23 A Berkshire Hathaway of Tech 01:24 Buying like Buffett and Mark Leonard (Constellation Software) 02:22 Focusing on the businesses not the share price 03:14 Owning only wonderful businesses 04:28 Bootstrapping experience makes for better investing 05:43 Serial entrepreneurship since 2010 6:55 Discovering Warren Buffett and value investing 07:58 Getting to know Bill Ackman, Howard Marks, Warren Buffet and Charlie Munger 09:32 The 2023 Tiny and WeCommerce merger 10:24 Doing quick Buffett-like deals 11:11 Learning extreme delegation from Buffett 12:23 The power of anti-goals 12:47 Final thoughts As seen in this video, I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (refferal link): http://tikr.com/theartofvalue Using a referral link helps support the pod, thanks! The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

In this episode I summarize and discuss what legendary investor Steve Eisman, who was played by Steve Carell in the movie The Big Short, has been predicting for the end of the US stock market crash - after the market declined around 25% in 2022, and has been steadily rebounding since October 2022. I also respond to our value investing YouTuber friend Hamish Hodder's find that Eisman recently revealed his next big stock market sector bet. Timestamps: 00:00 Intro 01:18 Eisman predicts: If the Fed stops raising rates... 05:05 The forward-looking stock market 06:21 Lower inflation and a recession? 08:44 Eisman's investments 10:21 A sector of particular interest Related episodes: Mohnish Pabrai on Mistakes, AI Euphoria, Nvidia, Microsoft https://youtu.be/zs7pdV3fSJc Why Druckenmiller Owns Nvidia Despite "Nosebleed Territory” https://youtu.be/QP496jwcumk Stan Druckenmiller Still Predicts Hard Landing Recession https://youtu.be/8Ue-etn4E74 Hamish Hodder: Big Short Investor Predicts END of the Stock Market Crash https://youtu.be/Snto0ZK-dIA The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the pod, thanks! I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (refferal link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

In this episode I summarize and discuss a recent interview with veteran value investor Jeremy Grantham, in which he explains how he thinks the deflation of a financial markets super-bubble is currently being prolonged by an emerging mini-bubble in artificial intelligence (AI). Timestamps: 00:00 Jeremy Grantham Super-Bubble Intro 00:45 Who is Jeremy Grantham? 01:21 Grantham's prediction track record 02:21 Super-Bubble stages, including the emerging AI mini-bubble 05:45 Is this a big bear market rally? 07:54 The AI hype cycle 08:59 Prolonged Super-Bubble deflation 10:08 Time to take AI stock profits? Related episodes: Jeremy Grantham Super Bubble: Euphoria to Panic to Recession https://youtu.be/LZfe8M4kpJc Mohnish Pabrai on Mistakes, AI Euphoria, Nvidia, Microsoft https://youtu.be/zs7pdV3fSJc Why Druckenmiller Owns Nvidia Despite "Nosebleed Territory” https://youtu.be/QP496jwcumk Seth Klarman: We've Had An Everything Bubble https://youtu.be/C4rs2M_lOKw The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the pod, thanks! I use TIKR Terminal to help analyze great businesses, follow top investors, and help monitor my portfolio (refferal link): http://tikr.com/theartofvalue Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

In this episode I summarize and discuss selected parts of a recent Q&A session with value investor and fund manager Mohnish Pabrai. During the Q&A Pabrai offered his thoughts on investing mistakes and the reasons for the high average rate of investor errors, current Nvidia (NVDA) euphoria compared with Microsoft (MSFT) euphoria during the Dotcom Bubble, and what it takes to be a good investor. Timestamps: 00:00 Mohnish Pabrai Q&A intro 00:19 Investing mistakes and projecting Nvidia to infinity 01:20 Microsoft stock during and after the Dotcom Bubble 02:59 Amazon stock during and after the Dotcom Bubble 03.27 Nvidia rhyming with Dotcom Bubble era Mircosoft 05:11 The AI too hard basket and asking simpler questions 06:54 The other reason for high error rates in investing 07:58 What's needed to be a good investor Related episodes: Mohnish Pabrai: Key Investing Lessons from "Circling the Wagons” https://youtu.be/TqC_m7-DPfM Chuck Akre Said This About How to Find 100 Baggers https://youtu.be/xoKe1AvquTI Mohnish Pabrai Portfolio Update: Pabrai Buys BAM Stock! (Brookfield Asset Management) https://youtu.be/c5ivXtnz6-U Why Druckenmiller Owns Nvidia Despite "Nosebleed Territory” https://youtu.be/QP496jwcumk Mohnish Pabrai's Q&A with members of the Finance and Investment Cell at SRCC, Delhi on June 14, 2023 https://youtu.be/tYtG7ZvMSjM The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the pod, thanks! I use GuruFocus for historical, financial and valuation data, screeners, charts and comparison tools, to help me make smarter long-term investing decisions (refferal link): https://www.gurufocus.com/?r=2c95d5930bb2537b2e0265075fb66581 Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

In this episode I summarize and discuss a recent interview with legendary value investor Seth Klarman. During the interview Klarman discussed the “Everything Bubble” he sees unwinding, the investing opportunities that’s bringing, the nature of value investing in relation to growth, buying quality companies at the right price, how to get an edge in the competitive investing environment today, technology investing in inefficient markets, Bitcoin, the current macroeconomic environment, and more. Timestamps: 00:00 Seth Klarman Intro 00:37 Security Analysis revised 00:59 The Everything Bubble 02:05 The Bubble timeline and investing opportunities: 4/10 03:26 Then and now: railroads to SPACs and crypto 04:44 What is value investing? Klarman's definition 05:48 How to think about growth in investing 06:10 Not overpaying for quality companies 06:54 Warren Buffett and buying the Index 07:37 How to get an edge 08:15 Inefficient markets and mis-priced stocks: META 09:09 Thoughts on technology disruption and crypto 09:43 Is Bitcoin digital gold? 10:32 Macroeconomic prediction and investing Related episodes: Why Druckenmiller Owns Nvidia Despite "Nosebleed Territory” https://youtu.be/QP496jwcumk Are AI Stocks A Bubble? Druckenmiller, Greenblatt Said… https://youtu.be/KmlXeoM5LLY Peter Lynch's 2023 Advice on Buying Stocks - Rare Interview https://youtu.be/sZKt5j1Rwi0 Investing Book referenced in this episode: Security Analysis, Seventh Edition: Principles and Technique, by Benjamin Graham, David Dodd, Seth Klarman - editor (referral link) https://amzn.to/444wP3K Using a referral link helps support the pod, thanks! The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 I use GuruFocus for historical, financial and valuation data, screeners, charts and comparison tools, to help me make smarter long-term investing decisions (refferal link): https://www.gurufocus.com/?r=2c95d5930bb2537b2e0265075fb66581 Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.

This episode discusses recent comments by three stock market investors, including legendary fund managers Stanley Druckenmiller and Joel Greenblatt, focusing on the question: we know there’s an artificial intelligence (AI) boom going on right now, but is there an AI stock bubble? We look at what these investors are saying about AI stocks, Nvidia stock (NVDA), the current stock market, and how they think it’s going to play out. I also give my opinion on the topics. Timestamps: 00:00 AI stock bubble intro 00:14 Stan Druckemmiller: Separating the wheat from the chaff. 05:17 Joel Greenblatt: Current opportunities rhyming with the Dotcom Bubble. 08:57 Jim Bianco - Wealthion: AI stocks are “way out there in bubble-land...” 12:37 My final thoughts: AI is a long term secular move but... Related episodes: Why Druckenmiller Owns Nvidia Despite "Nosebleed Territory” https://youtu.be/QP496jwcumk Microsoft to Challenge Google Search Using OpenAI's ChatGPT https://youtu.be/Vh42ZgADo5k The AI Race is ON! Google Showcases New AI Products https://youtu.be/xL7MvGAjdew Interviews referenced in the episode: Bloomberg (June 2023): Druckenmiller on How AI is Dominating His Long Portfolio https://youtu.be/NERglanBMIk HFA Fireside Chat with Hedge Fund Manager Joel Greenblatt https://youtu.be/utP9ZVog554 Wealthion: AI Stocks Definitely In A Bubble Right Now | Jim Bianco https://youtu.be/MazHnXttvQk The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 Using a referral link helps support the pod, thanks! I use GuruFocus for historical, financial and valuation data, screeners, charts and comparison tools, to help me make smarter long-term investing decisions (refferal link): https://www.gurufocus.com/?r=2c95d5930bb2537b2e0265075fb66581 Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.