If you're naturally impatient and you try to be a value investor, you're going to fail.

You're going to fail because no matter how much you tell me about how much you believe

in value investing, you're just temperamentally unsuited to be a value investor.

Now, that's why I end the book with a statement which is the best investment philosophy is

the one that fits you as a person.

The person you need to understand the most to be a great investor is not Warren Buffett

of Peter Lynch, it's you.

I'm Chris Hill and that's Oswald DeModern.

He teaches corporate finance and valuation at the Stern School of Business at New York

University.

DeModern is a top valuation expert.

He's written textbooks on the subject.

Motley Full CEO Tom Gardner caught up with him for our recent full-fest investing conference.

And we wanted to bring you part of that conversation as DeModern weighs in on how the Federal Reserve

could misread inflation data, the cost of ESG scoring, and how Jeff Bezos and Elon Musk

have built their companies in different ways.

I wanted to just start with your reflections on inflation and maybe teaching those who are

encountering inflation for the first time in any significant way.

What are the domino effects of high levels of inflation for corporations, individuals,

et cetera?

I'm going to start by saying it's not high levels of inflation per se that are the issue.

It's high unexpected levels of inflation that are the issue.

...