Quote · Excess Returns
The Trillion Dollar Gap | Aswath Damodaran on SpaceX, AI and the Big Market Delusion
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Why investing mistakes and track records are harder to judge than they look
At 1:06:50 · chapter starts 1:04:57
Three prescriptions: drop 'never buy' rules, stop hunting accounting conspiracies, and embrace uncertainty plus intangible assets as legitimate value sources. Any company is a buy at the right price. [1] — Aswath Damodaran "Value investing can evolve, but it needs to abandon three habits. First, drop 'I will never buy Tesla or SpaceX' — any company is worth buy…" 1:06:12
Value investing can evolve, but it needs to abandon three habits. First, drop 'I will never buy Tesla or SpaceX' — any company is worth buying at the right price. Second, stop hunting for accounting conspiracies in footnotes while missing the forest for the trees. Third, accept that book value is an obsolete proxy for company worth and learn to value intangible assets and future growth properly.
