Talking All Things Value Investing with Tobias Carlisle
This week we are joined by our good friend and first three time guest on the podcast Tobias Carlisle. We talk about a wide range of value investing topics, including the current state of value investing and how value looks relative to growth. We also compare the current period for value to the early 2000s period and look at what we can learn from that period. Finally, we take a deep dive into the many issues value investors face when constructing a value strategy in the real world, including using single metrics vs. composites, portfolio sizing, industry concentration, how to handle intangible assets and a lot more.
MORE ON TOBY CARLISLE
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/ theacquirerspodcast
/ greenbackd
ABOUT THE PODCAST
Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors.
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Пікірлер: 4
I really wish TB did more interviews.
We have a title! I have enjoyed Toby’s other books with Deep Value being my favorite displayed prominently on book shelf. Hopefully this book’s price will be more in the value category
My thoughts are that In order to have a commodity producer somewhat insulated from the ebb and flow of the demand for that commodity such as Exxon being concentrate on oil & gas, you would need a company that produces different commodities. For example: Lithium, Cobalt, Copper and Aluminum are metals whose demand comes significantly from EV production whereas Coal and Coal gas is an old carbon economy commodity which does better on economic contractions which slows down the adoption of new green technologies. Having a producer of EV and old carbon commodities means when one outperforms, the other will underperform and this will stable out the ride somewhat as they hedge each other. I like the description of Quality minus Junk. When you rely on stock filters, there might be a ding on a stock that excludes it from the resulting list, but sometimes it may have favorable features that can more than compensate for that ding. Quality minus junk goes to an overall score board.