Is VALUE INVESTING dead???
I am an aspiring investor right now in high school .When I search for the best books on markets ,wall street , books such as The intelligent investor,Security analysis, liars poker,market wizards ,value investing ,etc show up . Are these still relevant to today's market as times have changed a lot and it is not 1980 1990,It's a complete different scenario. Is value investing still possible today or it's just Quant ,data all over. Where do you see the next WARREN BUFFET coming from??? And where do you see we are heading in the next 15-20 years.
More alive than ever. All these retard quant shops keep pushing prices around based on a simple formula, and it creates opportunities for those who know better.
Where do you see the next rising star of HF coming from? What is your opinion and experiences about the quants? Are quant funds (Two Sigma, Citadel, AQR..) just a hype? Where Is The Highest Upside? Quant Or L/S Equity Space?
Hard to speak about the big funds because many of them have multiple strategies. Suffice it to say, I think the factor stuff is bullshit. So DFA, AQR, and their many copy cats, are selling snake oil.
that's not very pc, hispanic dinosaur. i think they'd prefer to be called "developmentally disabled quant shops".
hope that helps.
the butt-hurt is real.
Having read the great book, I think if Benjamin Graham were alive today he would be strongly interested in the intrinsic value of brands and users. Market sentiment is much more powerful in today's world than Graham's time. So much of stock movement is caused by PR disasters and in the long term brand superiority in technology. There are many stocks that Graham would probably not invest in (Hence, Warren Buffett's avoidance of the tech sector). Look at Amazon's accounting numbers and remove the name of the company and you would be hard-pressed to believe that it was a trillion dollar market cap. Tesla is another great example of a an asset that has a unique and complex value. Personally I think the era of small entity money managing is dead, Look at Point 72 13f and you see that the SPY compromises 27% of the portfolio, then look at Einhorn's terrible numbers. This idea that just bc you have a Wharton MBA, elite critical thinker and "disciple of Graham" is not going to convince people to throw you their money anymore over playing it safe and dumping it in Vanguard for .14% management fees. If anything I see the next wave of investing to be PE heavy.
Warren Buffett is wrong when it comes to tech. Yes, Warren Buffett can be wrong. If I were a 72 year old Grandpa, yes maybe I’d do value investing but tech stocks are the literal shit
uncle buffett is 89. even if he wanted to get a boner about tech stocks, it would take so many viagras that his heart would burst out of his chest.
There is no such thing as consistently beating the market when it comes to investing in public securities. There are likely some algo-based investing strategies that can generate alpha over decades, but fundamental investing simply doesn’t cut it. Some will get lucky, but the hedge fund industry is shrinking for a reason.
“Number one rule of Wall Street. Nobody... and I don't care if you're Warren Buffet or if you're Jimmy Buffet. Nobody knows if a stock is gonna go up, down, sideways or in fucking circles. Least of all, stockbrokers, right?“
There are many people who have consistently beat the market. The argument that oh well they just will beat it for now but eventually they loose is a idiotic argument. Didn’t realize you need to win every single game or you are a shit player
Who are these prolific investors beating the market over multi-cycle year time-spans? And what % of professional investors do they make up?
If beating the market was something one could do without immense luck, why does Wall Street suck at setting price targets? Why are finance-gods like ray dalio and warren buffett shitting the bed right now?
Love the CAPITALIZATION. Growth stocks are where it’s at. Do you want to be a virgin DOLLAR GENERAL stockholder because it’s “trading lower than its intrinsic value” or a Chad AMAZON stockholder as their stock prices go to the moon?
Loud facts Bezos is hung just ask the National Enquirer
I’m getting r/WSB vibes here
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the next Warren Buffett will be an autist from Wall Street bets
Value investing is just buying companies below intrinsic value. It is not dead and will never be dead. Buying low price/book stocks or complaining about how Amazon has no GAAP earnings on the other hand...
^This.
Also, acknowledging that the topic has already been well covered on WSO, I think the distinction between “value” and “growth” is overdone. If you’re investing in a business, you want to buy for less than it’s worth. Period. Also, if you look at Buffett’s track record, especially in the ‘80s (KO) but also the ‘10s (AAPL), among others, you’ll see he’s made most of his fortune on “growth” businesses. Yet he’s what most ppl. think of when they think “value investor”.
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