Value Investing I: The Back Story!
Many investors, when asked to describe their investment philosophies, almost reflexively describe themselves as value investors. While some of that allure comes from core beliefs, a great deal of it comes from its perceived success in markets over the last century. In this session, I start by looking at how value investors themselves seem to have no consensus about how to describe themselves, and by describing different strands of value investing. I then look at how value investing has drawn its strength from a combination of stories about its success, with Ben Graham and Warren Buffett playing leading roles, and from the data, where academics have provided backing.
Slides: http://www.stern.nyu.edu/~adamodar/pd...
Blog Posts:
Value Investing I: The Glory Days: https://aswathdamodaran.blogspot.com/...
Value Investing II: A Lost Decade: https://aswathdamodaran.blogspot.com/...
Value Investing III: https://aswathdamodaran.blogspot.com/...
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