TIP400: Mastermind Q4 2021
The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network
Stig Brodersen
4.6 • 3.6K Ratings
🗓️ 28 November 2021
⏱️ 55 minutes
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| 0:00.0 | You're listening to TI-P. |
| 0:30.0 | Welcome to the Investors Podcast. I'm your host, Dick Brodison. And as always, for |
| 0:53.6 | a mastermind discussion, I'm here with Tobias Kylal and Hari Ramachandra. Jens, how are |
| 0:59.5 | you today? Wonderful, great seeing you guys. Yeah, same here. Great seeing you guys. Thank |
| 1:04.3 | you, Dick, for hosting us again. Guys, it's always great to have you here. And before |
| 1:09.7 | we talk about our individual picks, as we always do for our mastermind discussions, I want |
| 1:13.8 | to first throw it over to you, Tobias, because you have some interesting thoughts about |
| 1:16.7 | the General Marketing, then afterwards over to Hari, who are seeing some very interesting |
| 1:20.3 | things too in the Valley. Yeah, I think folks who know me know I'm a deep value guy. I've |
| 1:27.4 | got this deep value attitude to the market. So I'm always probably a little bit more conservative |
| 1:32.3 | than many other investors. The absolute level of the market really doesn't make much |
| 1:37.6 | difference to me one way or the other. But I do think that it's something that I just |
| 1:41.2 | kind of keep it in the back of my mind and I keep an eye on it. One of the things that |
| 1:44.1 | I've noticed recently is the Shilapi, which is cyclically adjusted price earnings, takes |
| 1:51.6 | a 10 year inflation adjusted average of the earnings of the market and compares it to |
| 1:55.8 | the current price. That's pushing up now almost to 40, which is exceptionally high. There |
| 2:01.8 | are very few instances where it is higher than where it is now. If you go back through |
| 2:06.4 | the data, the real of the only other time was the last of 1999 before it crashed. And |
| 2:12.0 | of course, that was the peak of the dot com 1.0 boom led to the wreck that followed. I |
| 2:20.2 | used this other indicator to none of this sort of factors into my process. So just as |
| 2:25.5 | an observation, I think it's kind of interesting. There's a fear and greed indicator, which |
| 2:30.8 | you can find on CNN. They look at a variety of valuation and volatility and option pricing |
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