Value Investing: Buy Cheap, Obscure and Out of Fashion
Professor Bruce C. Greenwald discusses his executive education course in value investing and what differentiates the practice from other investment strategies. “Most investors are constitutionally oriented to buying lottery tickets,” he says. “And that’s what creates the value opportunities for the plodding, careful investors.” For more programs from the Columbia Business School: fora.tv —– Professor Bruce C. Greenwald discusses his executive education course in value investing and what differentiates the practice from other investment strategies. “Most investors are constitutionally oriented to buying lottery tickets,” he says. “And that’s what creates the value opportunities for the plodding, careful investors.” – Columbia Business School Bruce Greenwald, the Robert Heilbrunn Professor of Finance and Asset Management, directs the Heilbrunn Center for Graham & Dodd Investing and the academic program in value investing. Described by the New York Times as ‘a guru to Wall Street’s gurus,’ Greenwald teaches value investing courses to MBAs, executives and professional investors. His book Value Investing: From Graham to Buffett and Beyond earned immediate acclaim from both individual and professional investors. Greenwald received the 2000 Columbia University Presidential Teaching Award and the 1997 Margaret Chandler Memorial Award for Commitment to Excellence in Teaching. He also is a two-time recipient of the Singhvi Prize for Scholarship in the Classroom.
@jayangli sort your voice out you fucking fat idiot!
Buying small cap is definitely not a value investing principle.
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A solid overview of how I invest. You have to be very disciplined and like spending a lot of time searching. I do.
@ArcaneKarma Luck matters, but I wouldn’t say intellect comes dead last. There are virtually no retarded self-made millionaires. Moreover, if you look at the worlds richest (not inherited but self-created) you find extremely high-IQ individiuals (bill gates, soros, buffett etc etc. ) Again, not saying luck isn’t important, but to say intelligence doesn’t count is ridiculous.
unless you get completely fate-screwed somehow, if a brilliant person wants to make a decent living, he/she can.
Warren Buffett is the best.
Great links
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If you get an education in “value investing” what value will you have as an employee if the majority of financial employers (big funds, wall street) don’t value “value investing” ?
@WebmasterWSDF can i ask what the value of your complete portfolio is trading at as of January 05 2011 please?
people actually go into debt to listen to this guy?wtf lol
Biggest value investing advice you will ever get “Stay away from the markets, stay away from stocks.”
the question is how much is he worth?….
Value investing is the best way to approach stock analysis but not necessarily Investing itself. There are a lot of issues that should be taken into consideration before engaging in buying stocks. Personally, I do not like stocks at all. To me, they are a way to enrich the insiders of a company and the investment bankers who price those stocks on the market. The retail investor is usually the last one on the line!
@49fiori
Staying away from equities in the long run has been the surest way earn subpar returns and risking losing buying power to inflation in the long term. Do yourself a favor and divorce yourself from the recent events of the market and look at 50-100 year charts of inflation, stock indexes, and bond returns. Then talk.
@gooberdude I was referring to individual investors. Passive investors should stay away from the markets, they have no business, no knowledge, and especially no time to find and to properly value a stock. Value investing, or simply it should just be called investing because everything else is speculation should and must only be reserved to institutional investors who do this for a living. I know very well that DJIA went from 66 in 1921 to 12,600 today, but how many lost money during this period?
Is he…is he Peter from Family Guy?
@anka893 People go into debt to get an MBA so that they can get an interview with the top investment banks and private equity firms. He is just a bump along the road
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I hope you’re also telling your students that small caps tend to be risky.
You should tell your students to focus on boring, out of favor, and undervalued mid and large cap stocks.
Small cap companies can be beaten down for a many reasons, like they’re too under capitalized to do what they want to do.
Cheap and Boring and Small and Obscure…. That is the secret.
@49fiori I agree with you!
You want to improve my wealth? Show me your portfolio!
Love this video, and love contrarian and value investing.
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