Investing Legends: Steven Bregman – Value Investing In Uncertain Market Conditions

Money Tree Investing

Money Tree Investing Podcast

Stockmarket, Valuestocks, Investing, Finance, Passiveincome, Wealth, Business, Personalfinance

4.6 • 658 Ratings

🗓️ 13 March 2020

⏱️ 86 minutes

🔗️ Recording | iTunes | RSS

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Summary

Markets around the world are overpriced. Value stocks have under-performed for over 10 years. If you are a value investor, where do you invest?

This is one of my favorite interviews. This week we interview Investing Legend, Steven Bregman. He explains how he looks at the markets from a value lens, why value investing is important to overall market health, the danger of low interest rates, why you should worry about the indexation of markets, and the bond ETF bubble. We cover a lot in this episode, but if you are serious about investing, this episode is pure gold.

For more information, visit the show notes at https://moneytreepodcast.com/287

Transcript

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0:00.0	Welcome to the Money Tree Investing Podcast.
0:04.5	Stock market, wealth, personal finance, value stocks, invest in your life.
0:11.1	Welcome to this week's episode of Money Tree Investing Podcast.
0:14.4	My name's Kirk Chisholm and I will be your host again today.
0:17.9	So today I'm very excited to bring on our guest, Steve Bregman. How you doing today, Steve?
0:23.2	I'm doing well enough. Thank you, Kirk. Good. Well, I'm really excited to be able to get Steve on the show.
0:28.3	I think I've been pestering him for months to get him on the show. He's one of my favorite value
0:33.4	investors around. He's outside the box thinker, much as you all know, much the way I think.
0:39.1	And I really have learned a ton from him over the years. If you really want to work about the
0:43.8	inner workings and how Wall Street works, this is kind of our insiders series, learning from
0:49.0	the kind of Wall Street insiders. This is your chance to really learn about how things work
0:53.0	on Wall Street. So, Steve, maybe you can tell the listeners a little bit about you and your background just
0:58.0	so they know where you're coming from.
0:59.7	I'm a principal at Horizon Kinetics, which is an investment advisory firm in New York.
1:04.3	We're not brokers.
1:05.0	We serve predominantly wealthy families and individuals.
1:08.5	We also do our own research.
1:12.7	We write research reports for professional investors. We don't get outside research. If formative experiences are important, all my other
1:17.8	business partners and I, we used to work at a private bank, a bankers trust company once upon a time.
1:23.1	And that's where our clientele were. They're wealthy individuals, taxable. They weren't really so concerned about whether you beat or didn't beat the S&P 500 in a given year,
1:31.8	but more or less that on an after-tax basis over time, you maintain their purchasing power
1:37.3	and the value of their assets.
	...

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