The Trillion Dollar Gap | Aswath Damodaran on SpaceX, AI and the Big Market Delusion

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How value investing can adapt to intangible assets and uncertainty

At 1:01:28 · chapter starts 1:00:58

Value investors blame passive investing for their underperformance, but book value — their core metric — has no relationship to liquidation value for 98% of companies. Rigidity prevents self-reflection. ^{[1] — Aswath Damodaran "I would wager that 98% of companies' book value has almost no relationship with what you get if you liquidate the company." 1:01:28 Play [2] — Aswath Damodaran "55-60% of money going into index funds: Approximately 55–60% of investment capital now flows into index funds and ETFs, which value investo…" 1:02:40 Play}