meta_pixel
Tapesearch Logo
Log in
We Study Billionaires - The Investor’s Podcast Network

RWH005: Meet the Master w/ Aswath Damodaran

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.63.6K Ratings

🗓️ 26 April 2022

⏱️ 103 minutes

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN

  • 00:09:21 - Why it’s so valuable to build unscheduled “day-dreaming time” into your day.
  • 00:13:17 - Why it’s a competitive advantage to be a generalist in a world of specialists.
  • 00:18:29 - What 42 years as a professor have taught Aswath about how to communicate.
  • 00:31:14 - Why he’s intensely skeptical about the ESG movement.
  • 00:39:46 - Why he owns no cryptocurrencies and views Bitcoin as a currency “for the paranoid.”
  • 00:44:21 - Which investment principles guide him.
  • 00:46:20 - How to identify the investment philosophy that fits best for you.
  • 00:52:07 - Why he’s glad that he sold Amazon and Tesla, and how he hit the jackpot with Apple.
  • 00:54:49 - How he values businesses by focusing on three key drivers above all else.
  • 01:19:58 - Which investors he admires the most.
  • 01:23:20 - Why he believes that macroeconomic forecasting makes soothsayers look good.
  • 01:25:06 - How he maintains his serenity in difficult times, both in markets and life.
  • 01:27:07 - Why it’s so important to spread your bets and not concentrate too aggressively.
  • 01:33:30 - How “small, right” actions can have a massive impact on you and others.


*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.


BOOKS AND RESOURCES

  • Aswath Damodaran’s YouTube channel, featuring his free videos on valuation.
  • Aswath Damodaran’s website, Damodaran Online, which includes his blog.
  • Aswath Damodaran’s Google Talk, which has been viewed over 1.1 million times.
  • Aswath Damodaran’s books, including “Narrative and Numbers”.
  • William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
  • William Green interviews Jason Zweig on RWH004: Intelligent Investing.
  • William Green interviews Joel Greenblatt on RWH003: How to Win The Investing Game.
  • William Green interviews Howard Marks on RWH002: Investing Wisely In An Uncertain World.
  • William Green interviews Tony Robbins on RWH001: The Life Force Revolution.
  • William Green interviews Ray Dalio on WSB410: The Changing World Order.
  • William Green’s Twitter.
  • Find people with the right experience and invite them to apply to your job. Try ZipRecruiter for FREE today.
  • Find Pros & Fair Pricing for Any Home Project for Free with Angi.
  • Invest in the $1.7 trillion art market with Masterworks.io. Use promo code WSB to skip the waitlist.
  • Have a business checking that’s built for you, will go the distance with you, and admires your brave - Novo. The Investor’s Podcast Network listeners get access to over $5,000 in perks and discounts.
  • Buying or selling Gold is as easy as buying a stock with Vaulted. No minimum investment required.
  • Updating your wardrobe or just simply looking for a new fall flannel? Head to Mizzen+Main and use promo code WSB to receive $35 off an order of $125 or more!
  • Send, spend and receive money around the world easily with Wise.
  • Learn about the next big thing – months before everyone else with Trends. Start your 7-day trial today for just $1.
  • Canada’s #1 employee benefits plan for small businesses! The Chambers Plan evolves with the way you work and live while keeping the rates stable. Opt for the simple, stable, and smart choice for your business.
  • Live local in Melbourne and enjoy $0 Stamp Duty*!
  • The interval fund, a breakthrough innovation. Only at Mackenzie.
  • Balancing opportunity and risk? The golden answer can be literally gold! Start your investment journey today with Perth Mint.
  • Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One.
  • Gain the skills you need to move your career a level up when you enroll in a Swinburne Online Business Degree. Search Swinburne Online today.
  • Design is already in your hands with Canva. Start designing for free today.
  • Invest in crypto and trade it without tax headaches with AltoIRA.


See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to TIP.

0:02.9

Hi there.

0:03.9

My guest today is Aswath Demodaran, who's a cult figure in the world of investing.

0:08.6

When it comes to evaluating businesses, Aswath is pretty much the ultimate authority.

0:13.0

He's written numerous books with titles like Demodaran on valuation and the little book

0:18.0

of valuation.

0:19.0

He's a professor of finance at NYU since the 1980s.

0:23.1

He's taught thousands of MBA students how to value companies and pick stocks.

0:27.7

But Aswath is really a rebel at heart, so he also took the very radical step of making

0:32.9

all of his university courses available online for free.

0:36.5

As a result, he's built an enormous following around the world.

0:40.7

His YouTube channel has something like 425,000 subscribers.

0:45.5

His Google talk last time I checked had been viewed more than 1.1 million times, and his

0:50.7

website has had nearly 10 million unique visitors.

0:54.5

This extraordinary level of exposure has led Aswath to joke that he's the Kim Kardashian

1:00.1

of valuation.

1:01.1

It's not hard to see why so many people are fascinated by him.

1:04.8

As you'll hear in this interview, he's a fantastic speaker, wonderfully articulate, insightful,

1:10.4

and never afraid to be provocative.

1:13.0

In this conversation, he talks about his distinctive approach to valuing businesses.

1:17.4

He speaks about stocks like Tesla, Amazon, Apple, and Alibaba.

1:22.8

He also explains why he regards Bitcoin as a currency created by the paranoid for the

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Stig Brodersen, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Stig Brodersen and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.