17 Burst results for "Benjamin Graham"
"benjamin graham" Discussed on Animal Spirits Podcast
"You're tucked in your warm comfort on frizzy Saturday morning in the winter. And you never want to get out of bed. I thought that was that was what Ben road. I thought that was a really great way to to frame this. Yes. But I don't I don't have that ability anymore to stay in my bed and a warm set on a Colt Saturday morning because my kids are waking me up so early but a man can dream. But yeah, I think there's never a good or bad time. I think to invest in and is much as you wanna use like the sayings of some of these great investors. You can look back at the averages in the past times when it made sense to put money to work. But if you take an extreme position in the market and sit on it for a long time, it just becomes harder and harder to act and hold on. Let me let me challenge you just for a moment. Are you telling me that? Jesse Livermore quotes do not add alpha to your portfolio in a bear market only. If you have a hashtag when you ever you say them, I think that's that's the thing. People want to like find a margin of safety in a fat pitch. But that sounds so much easier. In a quote from buffet or Benjamin Graham than it does to actually do something because of these expectations. We're talking about. Well, okay. I'll put money in when stocks fell twenty percent. They fall another twenty percent from there. Then what I do. Right. So getting out is easy. I think getting back in is extremely difficult because let let's say that you do nail it. Right. You sell it the exact top. And then stocks fall twenty percent. Are you like dying to get back in? Of course, you're not because you think they're gonna fall another forty percent. So I think the key is having a rules based system to get back into the market. And there was an article in Bloomberg less week talking about betterment, and they said that sixty percent of betterment customers use automated deposits, which is a really good way to at least dampen some of the emotion that is involved with investing through tough times. This is a pretty good profile. They also said so better when we started in two thousand ten in it since then accompanies attracted about four hundred thousand customers all in the US who have an average of forty. Thousand dollars in the bedroom an account, and it's kind of funny because when robo advisors I burst onto the scene. Everyone was worried about are they going to take over for financial advisers, and I think a lot of advisers put these these systems down for whatever reason maybe because they were a little nervous. But I think the great thing about betterman is that they are serving in underserved market that was never being paid attention to in the past. And so people forty grand in air counts for the most part are not going to be taken by any financial advisor in the country. But betterment will take them and give them simple low cost low fi really easily elegant technological way of putting the money to work in the market. And I think it's great here here are there was an article over the weekend and barons ridden by Jack ho, and I think he said some really great things that I'm going to read he said quote, accurately, predicting what the stock market will do next year is impossible inaccurately predicting busy thought that was pretty good. He also said the subject of weather stock. Prices are normal or not as fraught with analytical, slush puddles also thought that was pretty good. But I thought that this is a really important point that he makes he said the rest might want to do some late cycle. Soul-searching? If the Dow Jones industrial average worth the drop say another three thousand points in hurry. Would you dump everything if so consider quietly panicking now just a little while other investors are buying on the dips? Now, I think that that is actually pretty decent advice. If you are. If you ask yourself that question, if the Dow drops another three thousand points or or false another x percent, whatever it is. Are you going to be extremely uncomfortable? And and potentially do something rash. Like press about in that you shouldn't be pressing. If that's the case, then it's not an all in all that decision..
"benjamin graham" Discussed on WJR 760
"Hundred point swings and five hundred point ups and downs. And it's all over the place right now. You know, gene? But that's expected this time of year a lot of times it happens. But you know, what we've had some really really good gains as well. And you know, sometimes it needs to reverse in and get back to the main. But should it be scary? That's the real question. Should it? Be scary. I'm not I'm not thinking it should be. If you've already time-tested or I should say risk or stress tested your portfolio because we've already would have already tested for some of these times. I agree with that Kim. But don't you think there's a lot of people listening right now that really don't know how much risk they have in their overall portfolio. Well, absolutely dean. And you know, what that's a that's a great question to open up within the risk. You know? There was a great guy by the name of Benjamin Graham, and we've mentioned him many times on this show before and, you know, do we want to manage returns? Dean, do we want to manage risk within sight of a financial plan? We'll Benjamin Graham wrote the book the intelligent investor was Warren Buffett swears by his investment bible. And what he says is that you know. Managing money is more about managing risk than it is about returns because he knows that. It's so easy for money to go away. So here's my I got a quiz for you. I got a quiz for the listeners here for question. Four question quiz. We'll see how you do here. And you gotta get better than a seventy percent to pass on this one. Okay. You gotta go through these four, right, right? So here's the first question. Relative to historical norms. Are stock prices today? Undervalued? Fairly valued or overvalued. Stock prices today relative to historical norms undervalued fairly valued or overvalued. Let me know when you are transfer. I'm ready overvalued. Bingo. You get one. Thank you. Thank you. Okay. Relative to stock market valuations October nineteen twenty nine. Our stock prices today below where they were in nineteen twenty nine about the same as where they were in one thousand nine hundred eighty nine or stock valuations higher than they were in one thousand nine boy, you're quick. I just looked at my valuations. Charter okay. Oh boy. Relative to where stock valuations were before the dot com. Bubble burst our evaluations today lower than they were before the dot com. Bubble about the same as they were or higher than they were before the dot com. Bubble higher actually there little lower. Stock market. Stock.
"benjamin graham" Discussed on WLS-AM 890
"A classic by Benjamin Graham, the intelligent investor and the book by Thomas Stanley that was mentioned by Bill and Fairbanks in his message the millionaire next store, and those are just some of my favorite books. Anyway, they're all listed in the recommended reading list in the book section. At Bob, Brinker dot com. Twenty two twenty one Carol is on the line in Illinois, Carol you are on money talk. Thank you for calling. Well, thank you for taking my call. And I I'd like to say we're sorry for your going away. But I think you've educated us enough, hopefully, we can carry on on her own. Well. I I am retired and about six years ago. I got a call from. My retirement association informing me that. What I like to know of my benefits. So I thought well. Yeah. Sure, I'd like to hear that the two guys came out to the house that came out about three days each time spending a couple of hours one of them was really selling redoing your trust for state purposes, which we were kind of interested in that because we wanted to redo that. But the other one I didn't know what he was there for he kept drawing diagrams and shooting lines all over the page and graphs and tell me how good some guy did twenty years ago and so on and after three days of this about two hours at a time. I said, okay, I said that's all history. I said what product do you have today? Well, what he had was an annuity that would pay three percent. A year. And there would be. As long as the market went up that year so market didn't go up. I would get nothing. And I didn't think that was a very good bargain after ten years one hundred thousand dollars have fifteen thousand while they're playing around with my money. So anyhow, I was able to beat off the shock shark attack. Because because of you well, Carol congratulations on a job. Well, done that certainly doesn't sound like a particularly enticing proposal the way you describe it and. Certainly think a lot of money talk listeners. They're very proud and hearing your story, and I thank you for calling in and sharing that.
"benjamin graham" Discussed on News Radio 690 KTSM
"Posing admits that the big brokerage firms the mainstream press and the government are pushing to keep Americans away from freedom. You can't handle the truth crew bringing America the truth about what really happens in the financial world, ladies and gentlemen, we're out of here to indulge fantasy. But in an economic reality. This is the watchdog. Yes. It is everybody that is the one the only watchdog on Wall Street show. Three thank the liars, the crooks cheats out behind the woodshed. And I freely admit people that I am a scatter brain. I I get on a topic and something pops into my mind, and I I can't I can't help it. I'm like what are those catch chasing the red light? And I just I have to go in that direction. Something will pop in. And I just go. People ask me about that. Nascar about radio. The only thing about radio. How many how many big television stars out there? Want to get involved and to radio and started doing it and quit? Realized how difficult it is. I mean, Bill O'Reilly had his radio program got out of it yet. And hey, he had a lot of help. He had a somewhat sitting in with him. He had all sorts of people working around him a lot of people. It's it's kind of confusing and how you go about doing this because. You have to be passionate. You have to believe in what you're saying. What you're talking about? Unfortunately, we talked about this most business stations around the country. They've got salesman on there that are trying to sell some investment and their show is fly by night. And they don't last long. How many how many programs have been on the air as long as mine, maybe one Bob Brinker? That's it. Recipe. Fly by night, Jim Cramer fly by night. They come and they go and listed some become popular for very short period of time. Why because they're talking about the latest fad? The latest and greatest thing and everybody gravitates towards that. And that's the wrong thing to do. Take for today. For instance, I've got so much prep for this program. You take a look if you could see me right now one of these days, I keep saying do it. Maybe we'll put a camera in here while I'm doing this show. You can watch my arms flowering around when I get all hot and bothered by stuff. I've got a a Manila folder Manila folder forest on my desk. And all these wire holders, and I've got various different topics stories, whatever it may be. And I don't know. I'm telling you right now. I don't know where I'm going to talk about until. Until the music stops the intro place. I have no idea. I all fired up about something the day before the show, and we're gonna talk about that. And then I do more prep work on that. I do a ton of reading, and it's there, and then I'll finish this show, and I've seen on ever talked about that. It is what it is. Anyway. Want to get in to talk a little bit more about some well, some lessons and finance that. I'd like to share with everybody out. There is just some of the things that Jim grant put forward, and he echoes. And he's one of the best guys out there. Echos basically, everything that we teach you here on the program. And one of those things is that markets are not. Efficient not perfectly efficient. I've mentioned this. And I have described this going back to. Benjamin Graham, Warren Buffett's teacher, and he talks about how every every asset out. There has a value has an intrinsic value to sometimes it's below and sometimes it's above and you can have fancy charts showing you how this goes up and down and you want to buy low and you want to sell high. People talk about efficient markets, and I don't believe that. There are that efficient. I know. For example. The real estate. We talked about the real estate market two thousand five two thousand six and a two thousand seven and I saw was playing his day to me that sorry. There's not enough multimillionaires to buy all these multimillion dollar homes that they're putting up. Forty miles or forty minutes. Excuse me inland in Florida. That is not gonna work. Get it took a while because of leverage because the leverage and people believing that those things were worth something. They held onto them until they didn't and the whole thing collapsed. Same thing holds true with. Stocks. Know, it's a good time. Why not I'll throw this in here? As a good example. When snap went public over a year ago. Snap with public. What was it seventeen? Eighteen dollars chair social media company that the kids are playing around with. I knew it was going to be a disaster. I knew it was going to be disaster. I saw the company how the company was structured. I said you got to be an idiot to invest in. This thing doesn't stock pop. Upwards of twenty seven twenty eight dollars a share that first day. I saw it coming. I've warned everybody on this program. We're going to see tons of millennials out there running out to their betterman accounts. The robo advisors. Getting every dime. They have oh, you know, what I'm not gonna make the student loan payment this month. I'm going to buy snap and all the money. I'm gonna make I actually got emails about this kid's going out and taking all the money money that you're Mark for student loans. There were going to buy Snapchat. Make a fortune and then pay the whole thing off. Or snap. Now. I don't know. Eight dollars a share seven dollars a share. Was the market efficient that day? Now, and you need to understand that. One of the most important things, you can also have lessons patients. Patience. Charlie Munger who is a partner over Berkshire Hathaway, he explained patients this way. How did Burks hires track record happen? If you're an observer. You'd see that warranted. Most of it sitting on his reading. You want to be an outlier in achievement? Just sit on your butt and read most of your life..
"benjamin graham" Discussed on News Radio 690 KTSM
"Street Texting Most people don't realize this Warren Buffett. Was a really really bad Investor really bad. Investor, until, he read the intelligent investor, Benjamin Graham Basically what it, taught, him And I I've read. It a couple of times it's not the most, exciting read in the world but there's a lot. Of great stuff in there But buffet mentioned this is years and years, and years ago how it got him to think Think about a stock as a part of a business And once you get your, brain understanding getting your, arms around the fact, that you're you're buying a. Company you're buying a business you're not buying a chart You stop thinking about stock splits or whether or not the dividend is, going to be increased, but instead you think, about it as a business When you do. That you then become an investor not a traitor You're not distracted by, stock price movements Worry you, at all you know what you own. You know that's. These movements are temporary. They always are they change every day They change every day. Where are they going to be five. Ten fifteen twenty. Thirty years from now That's what's important Thing that he points, out and I I like as. Well as safety Margin of. Safety I'm, a very, conservative guy by nature and it's kind of funny my, wife for instance if something costs. One hundred and thirty dollars my wife I'll.
"benjamin graham" Discussed on Don't Keep Your Day Job
"To work for Benjamin Graham in learn first hand from the master. So he goes to Benjamin Graham and asks if he could work for him in Graham says, no, then buffet says, look, I'll even work for free. And Graham still says, no. So buffet ends up going back to Omaha working as a stockbroker. But over the next two years, he's just keeps writing letters in in his own words, pestering Benjamin, Graham flying out to New York's meeting with him. Just, you know, keeps asking until finally, after two years, Graham says, okay, you can have a job and buffet was so excited in so smart. He didn't even ask if it had a salary. He just flew out to New York started working immediately. And what ended up happening is a couple years later when Benjamin Graham ended up closing his firm. Buffets started his own firm in when all the grams clients needed to know where they should invest their money in Graham says, you know, there's this young guy, Warren Buffett, who I really believe in in that was a huge turning point in Buffett's career. So working for free again, you, there's all of these stories of all of these people investing their time not to get money in the short term, but to get connections in knowledge and wisdom in the launcher. Those are all really, really good things. All right. I know there's some great advice coming up. Let's take a moment. Thanks to a couple of sponsors. So it's summer and where I am in Los Angeles. It's been so so hot. Plus I spend most of my time chasing my three kids around which means I will sweat in as you probably know if.
"benjamin graham" Discussed on Bloomberg Radio New York
"Down the result has been a a surge asset prices but the surgeon asset prices it's not the case that high asset prices create the prosperity the causation is completely reverse and so now we believe you're in a late cycle type of environment and ultimately you're going to have to resolve this disparity this wedge between high asset prices and low gdp growth against the backdrop of substantially expanded leverage in the system that was incentivized by these low discount rates that you allude to well does resolving this disparity is that a diplomatic way of saying that we are headed for some real problems i guess you said it much more directly that there's only one of two possibilities as as the great lord keynes put it if a trend is unsustainable then at some point it will stop this idea that asset prices can permanently disconnected continue it or work in a in a dynamic that's completely disconnected from the income economy the wealth economy that is what i'm referencing it's it's absurd so either we're going to get just a massive surge in gdp growth going forward to validating justified the increase in asset prices or in must most probably going to have to see a reduction in asset prices to correspond back to the gdp and the mechanism by which you get there is probably already being laid out in front of us it's the fed tightening it's the quantitative tightening as well as the actual rise in the overnight rate so does that mean that tag rebel is talking himself into a job of managing cash for a while well that's that's probably an unnecessary extreme step although maintaining a proper level of liquidity probably always a smart thing to do but in a late cycle environment what it really means is that you're supposed to recall what benjamin graham said a long time ago that bond selecting is a.
"benjamin graham" Discussed on KBNP AM 1410
"The result has been a a surge in asset prices but the surgeon asset prices it's not the case that high asset prices create the prosperity the causation is completely reverse and so now we believe you're in a late cycle type of environment and ultimately you're going to have to resolve this disparity this wedge between high asset prices and low gdp growth against the backdrop of substantially expanded leverage in the system that was incentivized by these low discount rates that you allude to well does resolving this disparity is that a diplomatic way of saying that we are headed for some real problems i guess you said it much more directly that there's only one of two possibilities as as the great lord keynes put it if a trend is unsustainable then at some point it will stop this idea that asset prices can permanently disconnected continue it or work in a in a dynamic that's completely disconnected from the income economy the wealth economy that is what i'm referencing it's it's absurd so either we're going to get just a massive surge in gdp growth going forward to validate and justify the increase in asset prices or in must most probably you're going to have to see a reduction in asset prices to correspond back to the gdp and the mechanism by which you get there is probably already being laid out in front of us it's the fed tightening it's the quantitative tightening as well as the actual rise in the overnight rate so so does that mean tad rebel is talking himself into a job of managing cash for a while well that that's probably an unnecessary extreme step although maintaining a proper level of liquidity is probably always a smart thing to do but in a late cycle environment what it really means is that you're supposed to recall what benjamin graham said a long time ago that bonn selecting is a.
"benjamin graham" Discussed on Freedom Fast Lane with Ryan Daniel Moran
"We are fundamentally biological creatures which means that our brains pay attention to things that move and things that scare us so we tend to be reactive to those two things so are naturally action say this thing's exploding with put our attention here or this thing scares me this thing is crashing let's put some attention here and i say the best thing you can do is take care of your basis so you don't ever have to react and you can make decisions on playing over here on something that's exploding and diversifying your portfolio harbor you would enjoy investing rather than being dependent on it sam i want a ten second follett head just psychologically as a business owner what does it do for you when you know that your financial stability is not tied to just one particular concentration how key is that to just mentally when you know i've got a base in an asset classes diversified across multiple multiple doors i've got catholic comes in how much more intelligently aggressive can you be with your dollars if you've banked everything on crypto and you see it start taking a downturn what do you do like you said emotions behind it having that base is what allows you to be an intelligent investor this is not my warren buffet talks about it there's benjamin graham writes a book about the intelligent investor while those things have changed the types of investments that are out there with new technology the internet the strategies behind buying whether it's value paying taxes tom we'll do whether it's value all those things looking for value is still one hundred percent the way to make money and grow longterm wealth that is stable and that psychologically works for you as an investor tom what about you if you have a client has a million dollars in liquid cash where would you point them a very different philosophy person i'm going to ask me as you want to grow or do you want to maintain stability okay if you want to maintain stability you wanna diversify if you want to grow nobody ever made a lot of money too i fine the point of diversification is to not lose.
"benjamin graham" Discussed on The Tai Lopez Show
"Shots thirty thousand people went through the program most people don't even write in their success but i got about one thousand nine hundred it's insane stories it's cra there was a guy just here at my house you saw him on my snapchat on friday yeah friday and in three weeks in my social media market names the build an agency doesn't even have his own website three clients paying them twenty five hundred bucks or one pain three thousand he's making eighty five hundred a month on recurring in three weeks he loves me he flew all the way here from atlanta georgia it's twenty six years old so again i can't take credit for success because he went out and did the work but i showed them what works and because i'm a big social media fallen after team million followers on all my platforms i can test stuff and i can tell you if it works or not sometimes i'll launch ideas and i'll say anybody try this and then i get feedback that it doesn't work so i don't share it so the stuff that i'm sharing with you this stuff works fixing websites learning marketing learning a little real estate learning how to invest money make money where for you if you do not have those four core pillars you're not going anywhere i promise you you can build as many websites as you want you're going to go broke lot of ninety percent of people who try to make money fail ninety percent is only ten percent of people that make it and i promise you i once did intense research on the people who have been most successful name almost anybody they had a mentor warren buffett usually one two or three richest man in the world for the last twenty years guess what benjamin graham as a teenager started training them college she's are reading books at age seven met him when he was like eighteen or nineteen benjamin graham mark zuckerberg big turning point in mark zuckerberg's life was when steve jobs agreed to mentor and help them also mark zuckerberg believe it or not was helped and mentor a little bit by tom from my space.
"benjamin graham" Discussed on 760 KFMB Radio
"It but what about the point during this correction pure looking at their stocks in all my gosh you know the the market pulling back i asked the question how many of you win and check the price of your home every second during that pullback nobody razor fan of course and that's the different pin realty real estate and stocks is that moment to moment volatility in the stock market it's there in real estate you just don't look at it you just see it though some invest the big thing you have to distinguish from his you're you're not buying a stock you're buying a small piece of a large company and talked a little bit about a you know kind of important don't get emotional on the downside and benjamin graham talked about this as well as you know it things don't feel good when the go down but don't make an emotional decision also on the other side it's great when things are going up but don't get overly excited you have to be realistic with yourself you might hit a peak in that might pull back but if that longterm trend is going the right way then you should feel very very good about your investments in us twenty two tomba that with this volatility they're saying now they're going to start seeing day traders comeback because last year it didn't help me of dates ready either making money so now the thing about them coming back and again they they get excited like a a drug almost because it all yampa this went up a gallon i made money even of two pennies made money is exciting that's not how you make money can we we talk about things some people say well you we're going to be well i don't know you bar today we'll we'll see what is december 31st this year what have some meantime we don't care and i think they're they're just like a hundred million shares outstanding if a hundred shares were retrieved that day only that's the pressures that you wouldn't see all the other shares at in sell just those prices that that were sold and it and it just it it doesn't matter because it's such a small amount and people don't realize that and that is not high make my on wall street on proven time and time again you make money by buying goodquality companies.
"benjamin graham" Discussed on BizTalk Radio
"Positions long ago benjamin graham taught me that price is what you pay value is what you get whether we're talking about socccer stocks i like buying quality merchandise when it's marked down uh insightful no doubt sometimes however you'll by at a markdown price and as a result of of fewer buyers willing to pay that price that price could continue to go down but if you've got a good stock or good mutual fund continuing the buy it on the downslope is actually a very smart thing to do next he says don't follow the crowd in buffets 2000 nate letter he also said beware the investment activity that produces applause the great moves are usually greeted by yawns and then in his next year's letter he said to as investors quote it's been an ideal period for investors a climate of fear is their best friend those who invest only when commentator our upbeat end up paying a heavy price for a meaningless reassurance bottom line is this warren buffett's playbook corrections are normal and unpredictable don't get upset or afraid when the market drops whatever you do don't panic and sell your stocks and always try to keep some cash on the sidelines we've discussed this as a value averaging strategy i'll do a quick review of that on the other side because you might always have some cash when you need it if you value lavery stick around this is the.
"benjamin graham" Discussed on We Study Billionaires - The Investors Podcast
"Alright so wes fantastic question by the way i really liked this question but i want to hear what you what you think i concur press i think it was it's a great question and i don't think it has a simple answer as he could take many different ways but i'd say if you wanna get in the weeds on on the micro components of you know fundamental valuation or stock selection you know unfortunately the ought to go to the digging a well you know stick things like security analysis intelligent vassar even though i know they're you know seem like they're too old books in their old guys but i think that's just a great baseline fundamental framework for you know figuring out how to baillieu stock like the classic methods now if once you move beyond kind of micro on valuation you know if you google around there's by one hundred resources i know presence they have a great you know course on their website khan academy almost certainly has great resources enters this good old bank called google i think a lot of times google and around the machines of optimize on you know if you ask for answers the right question with enough detail allow times the the best resources of bubbled to the top in stick to that 'cause it's free by good place to start so i completely agree with west on the security analysis benjamin graham all that kind of stuff is really good for the for the micro level i think for for a person who's coming into this fairly new security now says is probably going to be a little difficult to go through on depending on if if you've had business classes are what like how much accounting experience you have might make it difficult you need counting and here's another thing if you're coming in new to investing i mean frankly you you're it's probably means you're not going to be like a stock picker like i'm injury becoming a professional of your coming in new it's really about more high level frameworks like like we have the fact.
"benjamin graham" Discussed on WJNT 1180 AM
"But uh some of these thought of with d regulations and tax law changes it's hard to assess where it should be rushed has end so again we know were late in the game a week since owais if you count on your fingers '09 ten eleven twelve thirteen fourteen fifteen sixteen and yes now seventeen that's nine positive years in a row i mean normally you'd like when i tell friends and family neighbours in a general investing principles on on general not not obviously liberal but in general terms the smp 500 which would be a broadbased measurement of the us stock market 500 biggest stocks across from a variety of sectors it it the the market the market can go higher were we could be in the late innings of game but it it it's not say can't go higher but where are we finding value and that's where you mentioned rates so you know i remember benjamin graham the man who who taught warren buffett and warren buffett attributes a lot of his success to know says short term the the market is a voting machine but longterm it's a weighing machine and that goes back to the math in the formula that you're not a shortterm you know people uh investors can move away from the fundamentals but longterm the fundamentals are the fundamentals for this it's the blocking and tackling right and so the the numbers are bid elevated right now but again there's been some major changes with the tax law changes in some day regulations that could translate to even higher market that's now to be certain and we'll find out but you know can i know i visit your show regularly and i'm very grateful for that the reality is though investors really need to sit down and not focus so much on that side of it as they do their own personal finance part of the equation because let's see for example we saw and this is not the case it off but hypothetically we saw tremendous value in something let's say technology sucks it's not to say that the fundamentals can change noone is right one hundred percent of the time the market can turn unexpectedly you never know one another act of terrorism or an electrical grid problem you just don't know what the future brings there's too many variables that exist out there and.
"benjamin graham" Discussed on Animal Spirits Podcast
"Sixty five hundred abro today believe lights on on friday it was a fifty seven hundred an on wednesday it's at sixty five hundred yeah i think the hedge fund is a smaller piece than his other one but it's uh it's pretty markel i think he said he started off at like a three or five percent position so if you do the math basically the growth of that since he bought it he just hasn't trimmed i think maybe that is added he bought the equipment 350 did you read the book about him now widow by it's called the man who beat the s p investing with bill miller meant it can talks about how he he calls himself a value investor but he's very unconventional he take more concentrated positions his idea of quote unquote value is much different than the traditional benjamin graham thoughts of it pulled on i think it's time we put some money with bill odor okay is it isn't it it's an interesting book and he he's had his hits and mrs over the years member did you hear this turbine and bear stearns jahangir and the crisis where he was at an investment conference and he talked about how he should put a bunch more money into bear stearns and a day bear stearns went bankrupt and got sold the jp morgan's in that in the big short it might have been a net book yeah i saw it in a few different places which is a great in classic story i think but yes he's had his hits and mrs but credit to him for sticking with this along whatever you think of the asset it's pretty it's pretty impressive asagoe one more thing before we go catastrophe oh yes that's a great show sir catastrophe is the perfect style tv show bits on amazon it's three seasons and here's where it's perfect six episodes per season and each episode is only 24 minutes the s is the perfect binge watching shells or are you you're on this trend pretty early right yet we binge the first season and we've done all three cents in aegis it you just watched it i just washer it's.
"benjamin graham" Discussed on Adventures in Finance: A Real Vision Podcast
"So this is a ton of tell us the folk that now we see the the idea of owning gold is no unfamiliar tomatoes put it that way but for the for the people out there listening to this the do that themselves how is that change the way you invest in precious metal well it's it's actually is actually refine the way we think about it particularly equity market investing across the piste so um it it certainly let is to be to put even more focus on on keeping things simple so the keeping things simple approach is to use bullion through a costeffective medium or the other fuel bullied oor some you know fund that invests in a allocated gold inexpensively um it's also let is to think a little bit more carefully and defensively if i love the euro the just just boeing into it approach pouring into a thesis the then also to have the discipline only ever to to continually circle back to bottom evaluation raw just buying into a longterm thesis that you think is bulletproof so in terms of equity investing we now even if we think is a sector this this sector or a company this could do amazingly well which doesn't tend to be the case was 'cause we try and take sort of big picture top down cools could even if we couldn't be more excited by the prospects with business we now have the we try and have the try maintain the discipline only ever to buy the shares of business when stacks up from a sort of benjamin graham style valuation basis in other words now i quite like old fashioned metrics let price to book and key uh and my colleague killian manager of the business in the fund that we run a he'll he he tends to focus on the enterprise value to kashmir perations why because.
"benjamin graham" Discussed on BizTalk Radio
"The different guy from benjamin graham kelly polar opposites ones volume ones growth that's just read both i think it would hurt reloaded above and maybe invest in different you i would have resisted suitable for you invest corn whichever one you feel more suitable more fits your needs says be and it'll be brave do not be afraid been optimis i've talked to many people come in it would invest jc in the market but yet they're pessimistic about the mark yes and the interesting dichotomy because the two andrei contradiction with each other pride and what they don't realize the brings in struggle with this issue there in a hard time with this issue because you can't say out invest in stocks but not believe in the us economy grow because if uc connie failed you stocks are onto for road no matter what stops she by an so i o'clock mc statement the other day the same office at the a question i said as they said marks arrived with the bucks can correct the smp sank the market's gonna correct spokesman said why fokker war he said well to twenty two hundred twenty four note arisen acid okay so i said at the earnings gone up in the companies that make up the sp five hundred or less eight years yes he said i said so the value of those companies should have gone up an equivalent amount if if you think concept when priced rosia ripe so companies if you're running sixty last year fifty thousand dollars and issue there hundred thousand dollars cash flows worth morrison ladder with lose though fourth good bit mormon a twice is much echo struggling be closer any asked him a lot more money and so same thing is true companies and their cashflow so look the sp 500 yet realize it goes up because up her reason their noses companies have going up ten fifteen percent a year and the price of the smp should be glemp ten fifteen percent here on a valuation basis that means it has a move it's obscene place it was at the beginning bribe if this jim ratios represent ratios amounting it's always the case the.