Excess Returns

Snapshot · Excess Returns

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

Explore episode Jun 19, 2026

Where this was said

Why any company can be a good investment at the right price

At 1:02:40 · chapter starts 1:02:21

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.

Similar snapshots