Podcasts about Security analysis

In this episode, William Green chats with Christopher Begg, an exceptional hedge fund manager who is the CEO & CIO of East Coast Asset Management. Chris has also taught for many years at Columbia Business School, where he teaches the prestigious Security Analysis course that Warren Buffett took with Ben Graham in 1951. Here, Chris discusses how to stay calm amid market turmoil; how he identifies great businesses; why Tesla could deliver extraordinary long-term returns; & how he builds a balanced life in 7 key areas. IN THIS EPISODE YOU'LL LEARN: 03:54 - How Christopher Begg handles extreme market turmoil. 04:07 - Why he loves volatility & how he exploits it.  06:27 - What 3 qualities he seeks when identifying an exceptional business.  18:19 - Why temperament is the key to investment success.  28:06 - How Perimeter Solutions embodies what he looks for in a stock. 31:49 - How value investing has evolved to what he calls “Value 3.0.” 42:15 - Why Tesla could deliver “extraordinary” returns over many years.  42:15 - What he thinks of Elon Musk.  01:11:13 - Why the secret of success is “persistent incremental progress.” 01:13:48 - How a 66-day challenge helped Chris to nurture good habits. 01:26:06 - How Buffett & Munger won the investing game with “class & virtue.” 01:34:18 - How to design a balanced, joyful, & spacious life.  Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here. Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Chris Begg's investment firm, East Coast Asset Management. Marcel Proust's In Search of Lost Time. Tanya Luhrmann's How God Becomes Real. Maurice Merleau-Ponty's Phenomenology of Perception. Douglas Adams' The Hitchhiker's Guide to the Galaxy. Richard Bach's Jonathan Livingston Seagull. James Carse's Finite & Infinite Games. David Whyte's Consolations & Consolations II. Madeleine Green's song discussed by William & Chris. William Green's book, “Richer, Wiser, Happier” – read the reviews of this book. Follow William Green on X. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Check out our We Study Billionaires Starter Packs. Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: SimpleMining Hardblock Found AnchorWatch DeleteMe Fundrise CFI Education Indeed Vanta Shopify The Bitcoin Way Onramp HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

What if the key to successful investing is about understanding how market expectations, intangible assets, and even your own biases shape the outcome? In this episode, Cameron sits down with Michael Mauboussin, a renowned expert in investment strategies and behavioural finance, to explore how the evolving dynamics of investing influence valuation, investor decision-making, and market efficiency. Michael is the head of Consilient Research at Counterpoint Global, part of Morgan Stanley Investment Management, and an adjunct professor at Columbia Business School, where he teaches courses on investing and decision-making. His work focuses on behavioural biases, skill versus luck, complex adaptive systems, and valuation. In our conversation, we discuss the core principles of equity investing, unpack the evolution of intangible assets, and explore how market dynamics are influenced by index funds. You'll learn about capital allocation strategies, the shifting landscape of private equity, accounting challenges with intangibles, and how traditional investment frameworks are being redefined. Michael also provides insight into the "free dividend" fallacy, the importance of understanding the basic unit of analysis, the paradox of skill in active management, and more. Join us to learn about market and investing fundamentals to improve your strategy with Michael Mauboussin. Tune in now!   Key Points From This Episode:   (0:03:08) What the primary job of an equity investor is and the origin of stock returns. (0:05:37) Why dividends are less critical to total shareholder return unless fully reinvested. (0:08:43) Dissect the behaviour of investors in dividend stocks and the "free dividend fallacy." (0:10:01) Value versus growth classifications and how intangible assets impact valuations. (0:16:39) Learn about the potential advantages for companies investing in intangible assets. (0:20:20) How to determine a company's position in the competitive advantage life cycle. (0:24:42) The phase that offers the highest returns and what to consider about newer industries. (0:26:18) Explore the tradeoffs of intangible-intensive companies and the impact on base rates. (0:29:22) Pitfalls of valuation multiples and the implications for systematic value investors. (0:32:25) Relevance of market metrics and how index funds have affected alpha opportunities. (0:38:14) Effects of rising indexed assets and what to consider about market concentration. (0:45:01) Discover the historical link between market concentration and future returns.  (0:46:31) How active managers benefit markets and misconceptions about skilled managers.  (0:48:46) The value of active managers and advice for structuring investment portfolios. (0:52:44) Unpack the shift from public to private equities and why it happened.  (0:55:40) Insights into the benefits of private over public equities for investors.  (0:58:00) Ways intangible assets influenced the rise of private equity.  (0:59:27) What the market says about future returns and using public equity for diversification.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Michael Mauboussin — https://www.michaelmauboussin.com/ Michael Mauboussin on LinkedIn — https://www.linkedin.com/in/michael-mauboussin-12519b2/ Michael Mauboussin on X — https://x.com/mjmauboussin Columbia Business School — https://business.columbia.edu/ Morgan Stanley | Counterpoint Global — https://www.morganstanley.com/im/en-us/individual-investor/about-us/investment-teams/active-fundamental-equity/counterpoint-global-team.html The Heilbrunn Center for Graham and Dodd Investing — https://business.columbia.edu/heilbrunn Episode 332: Randolph Cohen and Michael Green — https://rationalreminder.ca/podcast/332   Books From Today's Episode:   The Success Equation — https://www.amazon.com/Success-Equation-Untangling-Business-Investing/dp/1422184234 More Than You Know — https://www.amazon.com/More-Than-You-Know-Unconventional/dp/0231143729 Expectations Investing — https://www.amazon.com/Expectations-Investing-Reading-Prices-Returns/dp/159139127X Think Twice — https://www.amazon.com/Think-Twice-Harnessing-Power-Counterintuition/dp/1422187381 Creating Shareholder Value — https://www.amazon.com/Creating-Shareholder-Value-Managers-Investors/dp/0684844109 Capitalism Without Capital — https://www.amazon.com/Capitalism-without-Capital-Intangible-Economy/dp/0691175039 The New Goliaths — https://www.amazon.com/New-Goliaths-Corporations-Industries-Innovation/dp/0300255047 Security Analysis — https://www.amazon.com/Security-Analysis-Foreword-Buffett-Editions/dp/0071592539 —    Papers From Today's Episode:    'The Dividend Disconnect' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2876373 'Trading Stages in the Company Life Cycle' — https://www.morganstanley.com/im/en-gb/intermediary-investor/insights/articles/trading-stages-in-the-company-life-cycle.html

Seth Klarman is a legendary value investor and CEO and Portfolio Manager of The Baupost Group, an investment firm he co-founded in 1982 that manages $30 billion. (Please note, this video is a re-edited version of a recent upload.) Want to support Global Value? https://www.interactivebrokers.com/mkt/?src=gvy1&url=%2Fen%2Fwhyib%2Foverview.php https://www.patreon.com/GlobalValue Klarman authored the value investing cult classic Margin of Safety and edited the recently released 7th edition of Graham and Dodd's value investing classic, Security Analysis. What makes Seth Klarman one of the greatest investors in the world? Thank you for watching. ❤️ Please support the channel by checking out our affiliates. All commissions are reinvested to improve the quality of videos! - TIKR is the website I use for financial data in my videos. Join me and 250,000+ investors worldwide by using TIKR in your investment analysis. Referral link - https://www.tikr.com/globalvalue - Check out Seeking Alpha Premium and score an exclusive 20% off plus a free 7 day trial! Affiliate link - https://www.sahg6dtr.com/H4BHRJ/R74QP/ - Try Sharesight https://www.sharesight.com/globalvalue (remember you get 4 months free if you sign up for an annual subscription!) - Discover investing resources by shopping at my Amazon storefront! Affiliate link - https://www.amazon.com/shop/globalvalue #sethklarman2024 #worldsbestinvestor #sethklarman #baupost #baupostgroup #superinvestor #stockmarket2024 #stocks2024 #valueinvesting #valueinvestor #investing #investing2024 #marginofsafety #warrenbufffett #warrenbufffet

[Referências do Episódio] V Seminário de Criptografia, ​Política e Direitos ​Fundamentais - https://seminariodecriptografia.my.canva.site/  CriptoFrevo - https://criptofrevo.ip.rec.br/  How Low Can You Go? An Analysis of 2023 Time-to-Exploit Trends - https://cloud.google.com/blog/topics/threat-intelligence/time-to-exploit-trends-2023/  Should We Chat, Too? Security Analysis of WeChat's MMTLS Encryption Protocol - https://citizenlab.ca/2024/10/should-we-chat-too-security-analysis-of-wechats-mmtls-encryption-protocol/  Beyond the Surface: the evolution and expansion of the SideWinder APT group - https://securelist.com/sidewinder-apt/114089/  Roteiro e apresentação: Carlos Cabral e Bianca Oliveira Edição de áudio: Paulo Arruzzo Narração de encerramento: Bianca Garcia

Intelligent Investor, Market Cycles, Supply & Demand - Best of Host Matt on Investing & Economics AZ TRT - S05 EP34 (250) 9-1-2024 What We Learned This Week: The Intelligent Investor Ben Graham's teaching, and seminal investing book - Ch. 8 on Mr. Market, & Ch. 20 on Margin of Safety Market Cycles – importance of identifying them, to know where you are at when investing to avoid Bubbles and Mania Supply & Demand - Economics Simplified Capital Allocation - What is the Opportunity of your Business Investment? Gamblers Fallacy - What is the Probability of the Next Die Roll? Game Theory - Dr. Nash's Plan to Pickup Women       Notes:   Seg 1. MB on Ben Graham's teaching and seminal investing book, The Intelligent Investor (c 1949), & review of the 2 main chapters - Ch. 8 on Mr. Market, and Ch. 20 on Margin of Safety Ben Graham was an economist, professor, and investor. He is also known as the Father of Value Investing, and the author of Security Analysis, and The Intelligent Investor. He stressed fundamental analysis of securities (stocks), investor mindset, focused investing, and ‘buy and hold'. He was Warren Buffet's professor, one time boss, friend and mentor. More: Here Buffet – Rule #1 Never Lose Money, Rule #2 Remember Rule #1 Ch. 8 - The Investor and Market Fluctuations / aka – Mr. Market Parable Ch. 20 - Margin of Safety as the Central Concept of Investment Stocks are a piece of ownership of a company, not just some piece of paper. You have to be able to value the company to determine if the market is selling you the stock at a discount, or if it is over-valued. A good investment is based on the price you pay for it. A good stock can be over-priced, and a bad stock can be a good buy if the price is depressed enough. You make money when you buy (what you pay).   Mr. Market is very emotional, and changes his mind daily. Sometimes he makes you an offer on a stock that is silly, and other times he offers a stock at a deep value, at a low price. This is when you should buy. It is all about psychology, discipline and patience.   Margin of Safety is the idea to buy stocks with a defensive mindset. Buy it cheaper than the value, so if your valuation was off, you give yourself room for error. You have to do detailed fundamental analysis to determine if a stock is over or under valued. Then you hold until the stock, ride out the fluctuations until it rises to its true value.   Full Show: HERE       Seg. 2   MB on legendary investor, Howard Marks of Oaktree and his Memos, in particular, Market Cycles. The importance of understanding Cycles, and how to identify them in investing. A look at market history, and investor psychology all connected to Market Cycles. Per Investopedia – Market Cycle The four stages of a market cycle include the accumulation, uptrend or markup, distribution, and downtrend or markdown phases. Accumulation Phase: Accumulation occurs after the market has bottomed and the innovators and early adopters begin to buy, figuring the worst is over. Markup Phase: This occurs when the market has been stable for a while and moves higher in price. Distribution Phase: Sellers begin to dominate as the stock reaches its peak. Downtrend: Downtrend occurs when the stock price is tumbling down. Examples – Tech Stock Bubble of 2000, Financial Crisis of 2008 (Housing Bubble), Pandemic of March 2020, Railroad Speculation mid-1800s, Great Depression 1929 Howard Marks quotes overheard in a Bubble: ‘This time it is different.' ‘The market can't fail.' The market does not always go up, there is Regression to the Mean – prices will eventually go down and even out. Be leery when there is euphoria in the market (be fearful), and maybe sell. Then buy after, post crash at depressed pricing levels. Buy Low, Sell High. Even a depressed asset can be attractive at the right (low) price. Michael Lewis book – Big Short on the Financial Crisis of 2008   Howard Marks Memos: https://www.oaktreecapital.com/insights Books: Here (The Most Important Thing, Mastering the Market Cycle) Bio (c/o Wikipedia) - https://en.wikipedia.org/wiki/Howard_Marks_(investor) Howard Stanley Marks (born April 23, 1946) is an American investor and writer. He is the co-founder and co-chairman of Oaktree Capital Management, the largest investor in distressed securities worldwide. In 2020, with a net worth of $2.1 billion, Marks was ranked No. 391 on the Forbes 400 rankings of the wealthiest Americans.[2] Marks is admired in the investment community for his "memos", which detail his investment strategies and insight into the economy and are posted publicly on the Oaktree website. He has also published 3 books on investing.[3][4] According to Warren Buffett, "When I see memos from Howard Marks in my mail, they're the first thing I open and read. I always learn something, and that goes double for his book."[5] Funds led by Marks have produced long term returns net of fees of 19% per year. Investors are primarily pension funds and sovereign wealth funds.     Seg. 3 & 4 Economics 101 for Real World Business   Full Show: HERE   Supply & Demand Supply is the amount of a specific good or service that's available in the market. Demand is the amount of the good or service that customers want to buy. Supply and demand are both influenced by the price of goods and services. If there was only one pizza restaurant in a town and then a new pizza place opened, the demand for pizza from the first restaurant would drop. The price of gasoline often changes with the demand throughout the year. As people drive more in the summer, gasoline prices tend to rise. In professional football, owners sell entertainment (supply) and spectators buy the opportunity to view or display the game (demand). Meanwhile, owners also buy the services of athletes who wish to play (demand) and trained athletes make themselves available for a price (supply).   Marginal Utility What Is Marginal Utility? Marginal utility is the added satisfaction that a consumer gets from having one more unit of a good or service. The concept of marginal utility is used by economists to determine how much of an item consumers are willing to purchase. Sports David Beckham signed $250 mil contract in 2007 w LA Galaxy Galaxy willing to overpay to get the attention, ticket and merchandize sales What we will pay at the margin? There is only 1 Beckham, rare commodity, like a diamond – subjective on the value What is the value of a bottle of water in the desert?  If only 1, then pay a lot, if there are 50 available, then pay less    Capital Allocation – Capital Allocation is the process of distributing financial resources to different areas of a business to increase efficiency and maximize profits.   A Sunk Cost refers to money that has already been spent and which cannot be recovered. In business, the axiom that one has to “spend money to make money” is reflected in the phenomenon of the sunk cost. A sunk cost differs from future (or regular) costs that a business may face, such as decisions about inventory purchase costs or product pricing.    Sunk Costs also mean that the Money $ used on a bad investment is lost. Don't try to ‘chase it' to somehow recover and get even. Instead, just write it off, and move on.  It is better to use the New Money $ on better investments. Where to Invest your money $ is pivital to Capital Allocation. Simply put, learn to Control Your Capital and decide wisely what Opportunity (Cost)  it should go to be as efficient as possible. This is the intersection of scarcity and choice.   Opportunity Cost is the loss or gain of making a decision, the forgone benefit that would have been derived by an option not chosen. To properly evaluate opportunity costs, the costs and benefits of every option available must be considered and weighed against the others. Famous Phrase – “idle cash balances represent an opportunity cost in terms of lost interest”   Whether your time or money can be better spent on something else   Should you mow your own lawn, or hire someone and concentrate on your job to make more $   Division of Labor We do not cut our own hair, or drill our own teeth – we go to a dental specialist, saves time & $ over long term Concentrate on your specialties Pencil example – one co make wood, one makes eraser, one mines the graphite, and one co assemblies – we all benefit as it would be harder and cost more if same company did it all, suppliers w/ specialty help keep costs down     In Stock Investing – Beware the Zombie Co.s in the S&P Index.   These are companies that are not profitable, or growing (may even need a Bailout). They are just treading water, and paying their interest on debt, but not their principal. In the current S&P index, it is estimated that about 20% of companies are Zombie Co's whose main investment comes from people buying the whole Index.   Unfortunately another 30% of the Index are bad companies that are either are stagnant, or on their way to Zombie status. Maybe 10 – 15% of the Companies (Stocks) in the Index (50 – 75 Co's) are really good to exceptional and should get your Capital.    Do you want to own the best house on the block? Or all of them?         Gamblers Fallacy each roll of the die is separate from the last, no effect   The gambler's fallacy, also known as the Monte Carlo fallacy, occurs when an individual erroneously believes that a certain random event is less likely or more likely to happen based on the outcome of a previous event or series of events.   For example, the gambler's fallacy might cause someone to believe that if a coin just landed on heads twice in a row, then it's “due” to land on tails on the next toss.     Monte Carlo Simulation – use for modeling scenarios   One simple example of a Monte Carlo Simulation is to consider calculating the probability of rolling two standard dice. There are 36 combinations of dice rolls. Based on this, you can manually compute the probability of a particular outcome.   Monte Carlo Simulation is a mathematical method for calculating the odds of multiple possible outcomes occurring in an uncertain process through repeated random sampling. This computational algorithm makes assessing risks associated with a particular process convenient, thereby enabling better decision-making.   Probabilities   Probability is simply how likely something is to happen. Whenever we're unsure about the outcome of an event, we can talk about the probabilities of certain outcomes—how likely they are. The analysis of events governed by probability is called statistics.   Sports analytics is a more recent field that uses data to measure areas like athletic performance and business health to optimize the processes and success of a sports organization as a whole. On-field data metrics help teams decide how to improve in-game strategies, nutrition plans and other methods for raising their athletes' level of performance. Off the field, organizations can leverage data to monitor ticket sales, craft marketing campaigns and reduce operational costs.   Data lets teams and organizations track performance, make predictions and make smarter decisions on the field. Want to figure out what play is best to run on fourth down in a football game? Check the analytics. Wondering whether or not your pitcher should throw another inning? Check the analytics. Players still win games, but data allows coaches to put them in the best position to succeed.     Game Theory – science of human strategy, people behave differently in games Dr. Nash – A Beautiful Mind If they all go for the same girl in the bar, competition and no one gets her, but if they work together and pair off with the group of girls, they all may win As Nash explains it, if all the men approach the blonde first, none of the men will pair off: The blonde will reject them all as a crowd, and her brunette friends will reject them all individually because none of the women will accept being second choice to her friend. While used in several disciplines, game theory is most notably used as a tool within the study of business and economics. The "games" may involve how two competitor firms will react to price cuts by the other, whether a firm should acquire another, or how traders in a stock market may react to price changes.   Prisoners Dilemma The prisoner's dilemma presents a situation where two parties, separated and unable to communicate, must each choose between cooperating with the other or not. The highest reward for each party occurs when both parties choose to co-operate. Keep your mouth shut and tell the cops nothing, both walk   Cold War Example If both combatants do nothing, everyone lives, or mutual destruction with nuclear war War Games movie – no winner in hundreds of simulated games         Related Show:   Market Cycles, Risk, & Ben Graham's Intelligent Investor - Finance Lessons from BRT BRT S04 EP29 (192) 7-23-2023   What We Learned This Week:    Mean Reversion & Market Cycles – Asset prices do not go up forever, but rather fluctuate Assets – Valuations have gone down, forces Investors to evaluate the worth of an Asset, Risk / Reward analysis, no more ‘free' money Interest Rates – Don't Fight The Fed, raising rates to lower value of assets Market Risk – can get Treasury Bills at 4 – 5%, risk-free, need good ROI to invest in stocks with 10 – 20% downside risk Wealthy own Assets, Business, Real Estate, Stocks are the best and most popular The Intelligent Investor Ben Graham's teaching, and seminal investing book - Ch. 8 on Mr. Market, & Ch. 20 on Margin of Safety   Full Show: HERE             Business Topic: HERE   Investing Topic: https://brt-show.libsyn.com/category/investing More - BRT Best of: https://brt-show.libsyn.com/category/Best+Of   Thanks for Listening. Please Subscribe to the BRT Podcast.     AZ Tech Roundtable 2.0 with Matt Battaglia The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business.  AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving.  Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more…    AZ TRT Podcast Home Page: http://aztrtshow.com/ ‘Best Of' AZ TRT Podcast: Click Here Podcast on Google: Click Here Podcast on Spotify: Click Here                    More Info: https://www.economicknight.com/azpodcast/ KFNX Info: https://1100kfnx.com/weekend-featured-shows/     Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.

De teller van het aantal bedrijven dat we tot nu toe hebben Doorgelicht staat al op 50! Daarom doen journalist Nina van den Dungen en analist Jim Tehupuring in deze speciale aflevering van Doorgelicht even een stapje terug en leggen ze aan je uit hoe je zélf ook kan Doorlichten. Zo kan jij als belegger nog beter bepalen wat je favoriete aandelen nou écht waard zijn. Nina vertelt je het verhaal over de voorvader van fundamentele analyse en Jim neemt je stap voor stap mee in het analyseproces.   De geschiedenis van fundamentele analyse  Hoewel er niet echt een specifieke bedenker van fundamentele analyse aan te wijzen is, is er wel iemand die als de grondlegger van moderne fundamentele analyse gezien kan worden: Benjamin Graham. Met zijn boeken Security Analysis (1934) en The Intelligent Investor (1949) heeft Graham in de eerste helft van de twintigste eeuw de basis gelegd voor analysetechnieken die vandaag de dag nog volop gebruikt worden.   Graham werd in 1894 in Londen geboren, maar verhuisde nog geen jaar later met zijn familie naar New York. De ouders van Graham waren uit op een beter leven, maar kregen te maken met flinke economische tegenslagen zoals de Paniek van 1907 en de Beurskrach van 1929. Armoede stond daardoor centraal in Grahams jeugd en zijn eerste volwassen levensjaren.   Ondanks de tegenslagen, wist Graham dankzij een gewonnen studiebeurs aan de Universiteit van Columbia te studeren. Daar kreeg hij nog voordat hij zijn diploma haalde al drie banen als docent aangeboden, maar die sloeg hij allemaal af. Graham wilde meer verdienen om zijn familie financieel te kunnen steunen, daarom besloot hij om eerst op Wallstreet te werken bij een investeringsmaatschappij en later pas terug te keren als parttime docent.   Het duurde niet lang totdat Graham zijn eigen investeringsmaatschappij had en het boek Security Analysis met een collega-investeerder schreef naar aanleiding van de Beurskrach. In het boek maakte hij als één van de eersten onderscheid tussen de marktwaarde van een aandeel en de zogeheten intrinsieke waarde. Iets meer dan tien jaar later breidde Graham die theorie uit met het boek The Intelligent Investor, dat wereldwijd in de smaak viel bij beleggers. Zo ook bij investeringslegende Warren Buffet, die nadat hij beide boeken gelezen had aan de Universiteit van Columbia ging studeren onder Graham.  Graham ging in 1957 met pensioen en overleed in 1976 in Frankrijk. Sindsdien is fundamentele analyse naar Grahams voorbeeld uitgegroeid tot een van de meest gebruikte beleggingstechnieken ter wereld.   De fundamentele analyse  Bij de fundamentele analyse leggen we allereerst aan je uit hoe je een kwalitatieve analyse doet. Daarna gaan we de diepte in met een kwantitatieve fundamentele analyse en benadrukken we de belangrijkste cijfers waar je op moet letten tijdens het Doorlichten. Natuurlijk leggen we ook aan je uit waar je alle nodige informatie kan vinden. De presentatoren  Nina van den Dungen is journalist en presentatrice bij BNR Nieuwsradio. Als echte verhalenverteller vertelt ze je alles over de ontstaansgeschiedenis van bedrijven.   Jim Tehupuring is analist en vermogensbeheerder bij 1Vermogensbeheer. Met een flink dossier aan kennis en jarenlange ervaring in de financiële wereld, analyseert hij bedrijven in begrijpelijke taal.   Over Doorgelicht  In Doorgelicht richten Nina van den Dungen en Jim Tehupuring de schijnwerper op de bedrijven achter je favoriete aandelen zodat jij als belegger kan bepalen wat ze nou écht waard zijn.    Disclaimer  De inhoud van Doorgelicht is geen financieel advies. Beleg altijd op basis van je eigen overwegingen en onderzoek.  Redactie en montage  Niels KooloosSee omnystudio.com/listener for privacy information.

In today's episode, Shawn O'Malley (@Shawn_OMalley_) breaks down 30 years' worth of memos from one of Wall Street's most storied investors: Howard Marks. You'll learn how Marks's thinking about beating the market evolved over the course of his career, what it was like going through the 2008 Financial Crisis as a professional investor, the 5 market calls that Marks is most proud of, avoiding the cardinal sin of investing, plus so much more! IN THIS EPISODE, YOU'LL LEARN 00:00 - Intro 01:38 - Why steady, slightly above-average returns drive the best long-term returns 05:28 - How to find a balance between finding fewer losers and more winners 07:36 - How to intelligently bear risk for profit 13:48 - Why nobody knows what will happen next in a crisis 14:40 - Why booms and busts are inevitable 22:44 - When Marks realized the dot com bubble was going to pop 24:08 - How low interest rates drive investors to take risks 27:33 - Why beliefs about the housing market were wrong 30:45 - How Marks's firm responded to the Great Financial Crisis 36:02 - How Marks understood when to start buying stocks again after the 2008 crash 37:59 - When Marks knew bargains were being offered in March 2020 39:37 - How to avoid the cardinal sin of investing And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. 2023 Memo: Taking The Temperature. 2023 Memo: Fewer Winners Or Losers? 2012 Memo: Deja Vu All Over Again. 2008 Memo: The Limits To Negativism. 2008 Memo: Nobody Knows. 2007 Memo: It's All Good. 2005 Memo: Three They Go Again. 2004 Memo: Risk And Return Today. 2000 Memo: Bubble.com. 1990 Memo: The Route To Performance. Benjamin Graham and David Dodd's book Security Analysis. Jesse Livermore's book How To Trade In Stocks. Edward Chancellor's book Devil Takes The Hindmost. Howard Marks' book Mastering The Market Cycle. Howard Marks' book The Most Important Thing. Check out the books mentioned in the podcast here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Range Rover Toyota Public Airbnb Fundrise NetSuite Connect with Shawn: Twitter | LinkedIn | Email Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this episode of Enrich Your Future, Andrew and Larry Swedroe discuss Larry's new book, Enrich Your Future: The Keys to Successful Investing. In this series, they discuss Chapter 07: The Value of Security Analysis.LEARNING: Smart investors, like smart businesspeople, care about results, not efforts. “Smart investors, like smart businesspeople, care about results, not efforts. That is why “smart money” invests in “passively managed,” structured portfolios that invest systematically in a transparent and replicable manner.”Larry Swedroe In this episode of Enrich Your Future, Andrew and Larry Swedroe discuss Larry's new book, Enrich Your Future: The Keys to Successful Investing. The book is a collection of stories that Larry has developed over the 30 years to help investors as the head of financial and economic research at Buckingham Wealth Partners. You can learn more about Larry's Worst Investment Ever story on Ep645: Beware of Idiosyncratic Risks.Larry deeply understands the world of academic research and investing, especially risk. Today, Andrew and Larry discuss Chapter 07: The Value of Security Analysis.Chapter 07: The Value of Security AnalysisIn this chapter, Larry explains how to test the efficiency of the market by looking at how good security analysts are at predicting the future. If they can outsmart the markets, then the markets are not efficient.Do investors who follow security analysts's recommendations outperform the market?In business, results are what matters— not effort. The same is true in investing because we cannot spend efforts, only results. The basic premise of active management is that, through their efforts, security analysts can identify and recommend undervalued stocks and avoid overvalued ones. As a result, investors who follow their recommendations will outperform the market. Is this premise myth or reality?To answer this question, Larry relies on the robust findings of academic research in the paper Analysts and Anomalies. The authors meticulously examined the recommendations of U.S. security analysts over the period 1994 through 2017. Their findings debunk the myth of analysts' infallibility and shed light on the surprising ways analysts' predictions conflict with well-documented anomalies. They also found that buy recommendations did not predict returns, though sell recommendations did predict lower returns. Another intriguing finding was that among the group of "market" anomalies (such as momentum and idiosyncratic risk), which are based only on stock returns, price, and volume data, analysts produce more favorable recommendations and forecast higher returns among the stocks that are stronger buys according to market anomalies. This is perhaps surprising, as analysts are supposed to be experts in firms' fundamentals. Yet, they performed best with anomalies not based on accounting data.The evidence in this academic paper suggests that analysts even contribute to mispricing, as their recommendations are systematically biased by favoring overvalued stocks according to anomaly-based composite mispricing scores. The authors concluded: "Analysts today are still overlooking a good deal of valuable, anomaly-related...

In this episode, we have the pleasure of hosting Michael Mauboussin, Michael is a highly respected figure in finance, celebrated for his deep insights into decision-making, behavioral economics, and investing. Michael is currently the Head of Consilient Research at Counterpoint Global (part of Morgan Stanley Investment Management).  He also serves as an adjunct professor of finance teaching Security Analysis at Columbia Business School (since 1993), teaching essentially the same class that Ben Graham started teaching in 1920. Michael is chairman emeritus of the board of trustees of the Santa Fe Institute, a leading center for multi-disciplinary research in complex systems theory. Mauboussin is best known for his influential books like "The Success Equation" and "Think Twice," which explore critical concepts such as the interplay of skill and luck in business and the power of counterintuitive thinking, which we will touch on in this episode.    In today's episode, we cover a wide range of topics, including the ongoing public vs. private equity discussion, luck vs. skill as skill increases, stock market concentration, buybacks, valuation and advice for aspiring investment professionals.    Today's hosts are Steve Curley, CFA (Founder, 55 North Private Wealth) & co-host Chris Cannon (CIO/Principal, FirsTrust)   Please enjoy the episode. You can follow us on Twitter & LinkedIn or at investorsfirstpodcast.com

Sponsor by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠SEC Playground⁠ --- Support this podcast: https://podcasters.spotify.com/pod/show/chillchillsecurity/support

edX ✨I build courses: https://insight.paiml.com/d69  

Seth Klarman is a legendary value investor and CEO and Portfolio Manager of The Baupost Group, an investment firm he co-founded in 1982 that manages $30 billion. (Please note, this video is a re-edited version of a recent upload.)

Seth Klarman is the Best Investor You've Never Heard Of. Warren Buffett even recommends him (privately).

88MWhce9wToCCENbRgfZ6X54Dx8HF4bYY79YkYN9nXeqCDmykzXuq48HWe6k9eZDkA4iYpLbTsvpXPnAGCALHTTMLUp8cWi OR DONATE HERE: https://www.monerotalk.live/donate Monerotopia 2023 - El Dinero de la Gente Speaker: Dr. Julian Loss (Faculty at CISPA Helmholtz Center for Information Security, Germany) In this talk, Julian Loss presents his recent work on a Holistic Security Analysis of Monero transactions, focusing on its transaction scheme, RingCT (Ring Confidential Transactions). Dr. Loss addresses the central question of RingCT's security and the lack of a comprehensive security proof for the entire system. The talk covers components like ring signatures, commitments, range proofs, and stealth addresses, providing insights into Monero's privacy-focused approach! Links: https://twitter.com/julian_loss https://cispa.de/en/research/groups/loss Watch on YouTube (https://youtu.be/QQCmFDN9klw) TELEGRAM: https://t.me/monerotopia MATRIX: https://matrix.to/#/%23monerotopia%3Amonero.social MoneroTopia23 Confer Vids: ODY: https://odysee.com/@MoneroTalk:8/Monerotopia23:8 TY: https://youtube.com/playlist?list=PLfJ_JjSwYaa810CWboNcPX7cY-JYEWo-4 A SUPER Thank you to CakeWallet.com and Monero.com for being the Main Stage Sponsor! https://twitter.com/cakewallet https://twitter.com/monerocom ITUNES: https://apple.co/34W7FVp SPOTIFY: https://spoti.fi/2t1y9b4 STITCHER: https://bit.ly/2tUcIck ODYSEE: https://bit.ly/3bMaFtE WEBSITE: https://www..Monerotopia.com CONTACT: monerotopia@protonmail.com Mastedon: @Monerotopia@mastodon.social TWITTER: https://twitter.com/monerotopia INSTAGRAM: https://www.instagram.com/monerotopia/ DOUGLAS: https://twitter.com/douglastuman SUNITA: https://twitter.com/sunchakr

Our European Editor, Tony Connelly in Tel Aviv & Senior Lecturer Specialising in Warfare and Counter-Terrorism at Bath University & Former British Army Captain and NATO Analyst, Dr. Patrick Bury.

Today we're chatting with Frank Vasquez! Frank is a mostly retired lawyer with over 30 years' experience in investing for his own accounts. He holds degrees in Economics and Engineering from the California Institute of Technology and a law degree from Georgetown University. He is extremely active in the Financial Independence community, answering questions of all types in forums and Facebook groups. He has appeared as a guest on the Choose FI, What's Up Next and Security Analysis podcasts, and run workshops at the EconoMe Conference. His involvement in FI topics and issues predates the FI Community as it is known today. He is the founder and host of Risk Parity Radio, a laboratory or dive bar devoted to asset allocations for the DIY investor and drawdown portfolios.  Connect with Us: @catchinguptofi Buy us a coffee Resources mentioned on the show: Interview Notes for Frank Vasquez What's Up Next Podcast Security Analysis Podcast FinCon Risk Parity Radio Histories of the FIRE Community Early Retirement Extreme With Jacob Lund Fisker Retirement Planning Education with Andy Panko What is a Drawdown? Retirement and IRA Show Dave Ramsey Catching Up to FI Episode 022 with Jordan Grumet Open Social Security Bill Bengen's 4% Rule Liz Ann Sonders With Charles Schwab Cashing in on the American Dream: How to Retire at 35 by Paul Terhorst Catching Up to FI Episode 033 with Allan Roth Morningstar Portfolio Manager A Wealth of Common Sense Blog with Ben Carlson Risk Parity Radio Episode 289 Big Ern's Safe Withdrawal Rate Series The Little Book of Common Sense Investing by John Bogle Walk4McKenna Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.

Learn on your terms. Get the PDF, infographic, full ad-free audiobook and animated version of this summary of The Rudest Book Ever and a lot more on the top-rated StoryShots app: https://www.getstoryshots.com Help us grow to create more amazing content for you! ⭐️⭐️⭐️⭐️⭐️ Don't forget to subscribe, rate and review the StoryShots podcast now.  What should our next book be? Suggest and vote it up on the StoryShots app. COPYRIGHT NOTICE: The content provided here is unofficial and falls under Copyright Fair Use. The Intelligent Investor Summary & Infographic - Benjamin Graham Life gets busy. Has The Intelligent Investor been on your reading list? Instead, learn the key insights now. We're scratching the surface in The Intelligent Investor summary. If you don't already have Benjamin Graham's book, order it here or get the audiobook for free to learn the juicy details. Introduction Do you want to invest in the stock market while minimizing risks to your money? The Intelligent Investor aims to help you do that. Benjamin Graham has created a simple guide to investing for beginners. It focuses on longer-term and more risk-averse approaches. Graham focuses on investments (based on research) rather than speculations (based on predictions). The Intelligent Investor provides guidance on how to get involved in value investing. It helps you stop the market from dictating your financial decisions. Learn how to overcome inflation and invest wisely based on your circumstances. About Benjamin Graham Benjamin Graham is often called “the father of value investing.” He wrote two of the founding texts in neoclassical investing: Security Analysis (1934) and The Intelligent Investor (1949). Graham attended Columbia University before starting a career on Wall Street. He then founded the Graham-Newman partnership and employed Warren Buffett. Warren Buffett benefited greatly from Graham's approaches. He subsequently wrote the foreword for this book. Graham's investment philosophy was based on investor psychology, minimal debt, buy-and-hold investing, concentrated diversification, and buying within the margin of safety.  Now you can learn the secrets to Benjamin Graham's investment strategies! StoryShot 1: Understand the History of the Stock Market and Market Fluctuations StoryShot 2: Be Mindful of Inflation StoryShot 3: Stocks Can't Reliably Overcome Inflation StoryShot 5: Don't Let Age Influence Your Investing StoryShot 6: Adopt an Evidence-Based Approach to Investing StoryShot 7: Learn How to Be a Defensive Investor StoryShot 8: Learn How to Be an Enterprising Investor Learn more about your ad choices. Visit megaphone.fm/adchoices

Our guest today is charming international relations-cum-military historian Huw Bennett! Huw is a Reader in International Relations in the School of Law and Politics at Cardiff University in Wales. He was previously a Reader and then Lecturer in International Politics and Intelligence Studies at Aberystwyth University and a Lecturer in Defence Studies at King's College London at the Joint Services Command and Staff College. He was educated at the University of Wales, Aberystwyth, earning a degree in International Politics and Strategic Studies, a Master's in Strategic Studies, and a PhD in International Politics. Huw has written two books. The first, Fighting the Mau Mau: the British Army and Counter-Insurgency in the Kenya Emergency, was published by Cambridge in 2012, and his most recent book, Uncivil War: The British Army and the Troubles, 1966-1975, will be released by Cambridge in October 2023. Huw also co-edited The Kenya Papers of General Sir George Erskine, June 1953 to May 1955, with David French (The History Press for the Army Records Society, 2013). Huw's articles have been published in War in History, the Journal of Strategic Studies, the Journal of Imperial and Commonwealth History, and Defense and Security Analysis, to name a few. His work has been supported by the British Academy, The Leverhulme Trust, the Irish Research Council, and the Economic and Social Research Council. Huw's involvement in the profession is considerable. He is an editorial board member at The British Journal for Military History, Studies in Contemporary Warfare, and War and the British Empire. He is also the Co-Editor in Chief of Critical Military Studies. He is a Fellow of the Royal Historical Society and The Higher Education Academy and has appeared on BBC World News, Good Evening Wales, Radio France International, and many others. Join us for a fun but, at times, deep chat with Huw Bennett. We'll talk growing up half-Welsh in Surrey, living in Wales, the emotional toll of writing about atrocity, reading War and Peace, the delights of Spaghetti Ice, Barbi, Nirvana, and more! Shoutout to Joe's Ice Cream and Coco Gellato in Cardiff! Rec.: 07/20/2023

On today's show, Stig Brodersen and Preston Pysh are co-hosting an episode for the first time since 2019. They talk about how they met each other and the early days of their company. They also discuss how their investment approach has evolved over the years. IN THIS EPISODE YOU'LL LEARN:00:00 - Intro00:00 - Intro04:18 - How Preston and Stig met each other and how The Investor's Podcast got started08:20 - How the early days were at TIP before it became a real company24:32 - If Preston invests in stocks and how his portfolio looks like39:45 - What Stig's bitcoin portfolio allocation is54:51 - Whether Preston will attend the Berkshire Hathaway shareholder's meeting again1:17:35 - What the future holds for TIPDisclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCESStig and Preston's book, Warren Buffett Accounting Books – read reviews of this bookPreston and Stig's book, The Intelligent Investor, 100-page summary – read reviews of this bookPreston and Stig's book, Security Analysis 100-page summary – read reviews of this bookWarren Buffett's 3 Favorite Books – read reviews of this bookMichael Saylor's website, where you can track equity returns measured in Bitcoin. Tony Hsieh's book, Delivering Happiness – read reviews of this book.NEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSInvest in Bitcoin with confidence on River. It's the most secure way to buy Bitcoin with 100% full reserve custody and zero fees on recurring orders.Get a customized solution for all of your KPIs in one efficient system with one source of truth. Download NetSuite's popular KPI Checklist, designed to give you consistently excellent performance for free.Take ownership of your Bitcoin with Foundation. Attain self-custody with Passport hardware wallet.Reach the world's largest audience with Linkedin, the place to B2B. Plus, enjoy a $100 credit on your next ad campaign!Send, spend, and receive money around the world easily with Wise.Make investing in Short Term Rentals aka Air-BNBs simple, passive, and profitable with Techvestor. Listeners of We Study Billionaires get better terms by just mentioning “We Study Billionaires!” Sign up and book your call with their Investor Relations Team to get started today.Experience real language learning for real conversations with Babbel. Get 55% off your Babbel subscription today.Get your super sorted. Save money by consolidating multiple accounts, check out your investment options to see which is right for you, and see how extra contributions can make a big difference over time.Return to the all-access world of the rich and powerful. Don't miss new episodes of Billions streaming August 11th on the Paramount Plus with Showtime plan.Choose Toyota for your next vehicle – SUVs that are known for their reliability and longevity, making them a great investment. Plus, Toyotas now have more advanced technology than ever before, maximizing that investment with a comfortable and connected drive.Beat FOMO and move faster than the market with AlphaSense.Be confident that you'll be small businessing at your best with support designed to help you reach your goals. Book an appointment with a TD Small Business Specialist today.Get farm-fresh, pre-portioned ingredients and seasonal recipes delivered right to your doorstep with America's #1 meal kit, HelloFresh! Use code wsb50 for 50% off plus free shipping.Start, run, and grow your business without the struggle. Be in control of every sales channel with Shopify. Sign up for a $1 per month trial period today.Look good and feel good with True Classic‘s range of summer essentials, crafted with premium quality fabrics at an accessible price. Get 25% off today with the code WSB.Support our free podcast by supporting our sponsors.HELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Market Cycles, Risk, & Ben Graham's Intelligent Investor - Finance Lessons from BRT BRT S04 EP29 (192) 7-23-2023   What We Learned This Week: ·    Mean Reversion & Market Cycles – Asset prices do not go up forever, but rather fluctuate Assets – Valuations have gone down, forces Investors to evaluate the worth of an Asset, Risk / Reward analysis, no more ‘free' money Interest Rates – Don't Fight The Fed, raising rates to lower value of assets Market Risk – can get Treasury Bills at 4 – 5%, risk-free, need good ROI to invest in stocks with 10 – 20% downside risk Wealthy own Assets, Business, Real Estate, Stocks are the best and most popular The Intelligent Investor Ben Graham's teaching, and seminal investing book - Ch. 8 on Mr. Market, & Ch. 20 on Margin of Safety       Notes: Seg. 1 MB on Mean Reversion & Market Cycles Mean Reversion – Mean Reversion, or reversion (or regression) to the mean, is a theory used in finance that suggests that asset price volatility, and historical returns eventually will revert to the long-run mean or average level of the entire dataset.   Prices do not go up forever, they tend to level out over the long term. This is why so many investors monitor the 52 week High / Low average of a stock, and how it is trailing. Many stocks will go up 5, or 10 – 20% in  a year, and then go back down – whether because they are cyclical, a ‘hot buy', scandal with the Co., or market circumstances, etc.   Market Cycles, also known as stock market cycles, is a wide term referring to trends or patterns that emerge during different markets or business environments. During a cycle, some securities or asset classes outperform others because their business models aligned with conditions for growth. Market cycles are the period between the two latest highs or lows of a common benchmark, such as the S&P 500, highlighting a fund's performance through both an up and a down market.   Market Cycles, are common as economic phases rise, then fall. Think of this like a like a Pendulum, and pay attention to how they are moving currently. A great example is a Recession, where the market is down for 6 to 10 months, and stocks are all falling. As the economy comes out of the Recession, there are many opportunities for buys of the stocks of good companies that were down from the Recession, but now are rebounding.   Mean Reversion – companies or stocks go down over time, because completion comes after the main players in a an industry and chip away     Seg. 2 Replay Clip with Drew Niv on Risk   Guest: Drew Niv, Trader Tools & former Forex Trader LKIN: https://www.linkedin.com/in/drew-niv-123812160/ Drew Niv had a 20 year career in trading and FX (currency) markets. He founded one of the largest Forex trading companies on Wall Street, took it public (IPO), managed hundreds of staff, and oversaw $ billions in daily trading. Currently he runs a bank software company called Trader Tools, that specializes in FX markets. - https://www.tradertools.com/ Drew Niv is a Strategic, Technology Savvy, and Detail-Oriented Board Member and Global Business Executive with a history of award-winning performance as a visionary leader. Founded company that disrupted the FX industry, resulted in retail FX becoming a major factor of the global FX market. Developed breakthrough technology that enabled customers to transact spot FX at 70–90% less cost than the largest exchanges and ECNs. He has forged strategic partnerships with 1,000 institutional customers, including major hedge funds, all large banks, and other brand name financial institutions, both domestically and globally.     Market is very sensitive to interest rates. The Fed establishes interest rates. Interest Rates set the tone for the entire financial industry, from business lending, to stocks, bonds, banking, insurance, investments, mortgages, etc. Market Fundamentals are always valid, and post 0% rates, and current high inflation, become even more valid. Pension plans and insurance company's returns will be affected by interest rates. They are looking at minimum rates of 4 to 5%. Interest rates have been low, near 0% for a number of years. It is tough to get Treasury bills when only at 1%. Companies were forced to chase return and take on more risk by acquiring corporate bonds and stocks. Investor mentality was not challenged at times for the last few years. Hard to know what a good investment is at 0% interest rates. Money was cheap, so people were investing in numerous things, borrowing $, and taking chances. We saw the rise of the Pandemic stocks in 2020 with companies like Carvana, Peloton, and different crypto assets. These all turned out to be bubbles, and wound up flopping in 2022. The crypto market has seen 90% shrinkage. Some companies go bankrupt, while others are acquired at $.10 on the dollar. Investment philosophy 101 - you compare all investments that have risk to a risk-free investment. Treasury Bills are considered risk-free investments where with very little risk, you can get 3 to 5%. If you are going to buy a stock by comparison, and take on more risk, you have to be paid for taking on that risk. A stock could have 10 to 20% downside risk, vs a T Bill which has almost no downside risk, the government is a good bet. The two-year treasury bill is at 4% annually. Professional investors always look at the risk/reward ratio. Whenever you look at an investment, you have to consider the duration, the type of asset, and what you want to benchmark it against. Example: you invest in Apple, are they a credit risk? What is the ROI? The return on an investment should be better than treasury bills, accounting for the potential downside risk of 10% (or more). Inflation causes the economy to weaken. Housing prices decline like other assets. In 2023, inflation should go down. This assumes the Government doesn't spend too much money, in which case inflation stays the same. The Fed is raising rates to bring asset values down. In the current environment, 2023, savers will be rewarded. This is similar to from the 1980s to the 1990s where you could actually earn interest on saving money. With low interest rates from 2005 to 2020, savers were punished. 2023 will be the return of the saver. Cash will be king. Valuations are collapsing, see tech stocks, crypto, and maybe housing? Psychology of the Investor – The investor currently still remembers the highs of the last few years. As they sell off and get out of the market (expecting a recession), their viewpoint slowly changes. Typically recessions last 2 years, and this is considered short. But it takes years for investors to regain confidence and jump back into the market. Historically market timing is tricky. In the current environment you want to reduce exposure to assets. Go to the Federal Reserve website to look at the history of housing prices. The last decade has seen an unprecedented climb in the price of housing assets - https://www.stlouisfed.org/  Mean Reversion is setting in, this happens with assets. What goes up, must come down. A retracement in valuations of assets. When you look at housing and regional markets some values are even higher, ie: the Sun Belt like Florida or the southwest. Things that are illiquid assets, lower to the reset value, it's different than last time. Illiquid is the state of a security or other asset that cannot quickly and easily be sold or exchanged for cash without a substantial loss in value. Non-bank lenders will be hurt. Examples of this might be an insurance company, mortgage co., venture capital or private equity.   Full Show: HERE     Seg. 3 Replay Clip of Denver Nowicz talking  Assets and why Own a Business   Co-Host: Denver Nowicz, President - Wealth For Life https://wealthforlife.net/brt/ https://twitter.com/denvernowicz  Denver is an advisor with nearly 20 years experience working with clients in investments and insurance, designing retirement plans with a combo of both. He takes us through different strategies for clients to get the best allocations for their money over the long term. It is the Combo Strategy of both Offense and Defense, the synergy of the mix, not ‘All or Nothing'.       Businesses are usually the largest asset class of the wealthy. Options are starting your own business, buying a turnkey type business, like a franchise, or buying an established business thru acquisition. Businesses might be physical like a traditional brick and mortar store or a digital businesses which are online businesses. When you're earning a high W-2 income you are punished by the tax code. If you want to make more money and grow your business you improve the systems and then invest in different types of assets. Digital businesses are very good because they have low overhead, low expenses. Examples would be an educational course, consulting or a mastermind group. Once you start earning over $500K to $1 mil+ , you need to be thinking very carefully about tax strategies. You want to figure out ways to redirect capital from the IRS to better assets that assist you. Examples could be charities, or real estate. Active tax strategies, find good accountants and asset protection attorneys who can create a proactive strategy. If you own a business that can make an extra $50,000 a year in income, that is the equivalent of owning a $1 million stock portfolio giving off 5% a year in dividends or owning a $1 million property giving 5% in rental income. To have a good tax protection do you want to get away from W-2 income, create businesses with write offs with LLCs and expenses, and also mix in real estate.   Full Show: HERE   More - Assets Show: HERE   Wealth for Life Topic: HERE     Seg. 4 MB on Ben Graham's teaching and seminal investing book, The Intelligent Investor (c 1949), & review of the 2 main chapters - Ch. 8 on Mr. Market, and Ch. 20 on Margin of Safety   Ben Graham was an economist, professor, and investor. He is also known as the Father of Value Investing, and the author of Security Analysis, and The Intelligent Investor. He stressed fundamental analysis of securities (stocks), investor mindset, focused investing, and ‘buy and hold'. He was Warren Buffet's professor, one time boss, friend and mentor. More: Here Buffet – Rule #1 Never Lose Money, Rule #2 Remember Rule #1 Ch. 8 - The Investor and Market Fluctuations / aka – Mr. Market Parable Ch. 20 - Margin of Safety as the Central Concept of Investment Stocks are a piece of ownership of a company, not just some piece of paper. You have to be able to value the company to determine if the market is selling you the stock at a discount, or if it is over-valued. A good investment is based on the price you pay for it. A good stock can be over-priced, and a bad stock can be a good buy if the price is depressed enough. You make money when you buy (what you pay).   Mr. Market is very emotional, and changes his mind daily. Sometimes he makes you an offer on a stock that is silly, and other times he offers a stock at a deep value, at a low price. This is when you should buy. It is all about psychology, discipline and patience.   Margin of Safety is the idea to buy stocks with a defensive mindset. Buy it cheaper than the value, so if your valuation was off, you give yourself room for error. You have to do detailed fundamental analysis to determine if a stock is over or under valued. Then you hold until the stock, ride out the fluctuations until it rises to its true value.   Full Show: HERE     Investing Topic: https://brt-show.libsyn.com/category/Investing-Stocks-Bonds-Retirement   More 'Best of Investing': Here   ‘Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT         Thanks for Listening. Please Subscribe to the BRT Podcast.     Business Roundtable with Matt Battaglia The show where Entrepreneurs, High Level Executives, Business Owners, and Investors come to share insight and ideas about the future of business. BRT 2.0 looks at the new trends in business, and how classic industries are evolving.  Common Topics Discussed: Business, Entrepreneurship, Investing, Stocks, Cannabis, Tech, Blockchain / Crypto, Real Estate, Legal, Sales, Charity, and more…  BRT Podcast Home Page: https://brt-show.libsyn.com/ ‘Best Of' BRT Podcast: Click Here BRT Podcast on Google: Click Here BRT Podcast on Spotify: Click Here                    More Info: https://www.economicknight.com/podcast-brt-home/ KFNX Info: https://1100kfnx.com/weekend-featured-shows/   Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.  

Seth Klarman is a legendary value investor and CEO and Portfolio Manager of The Baupost Group, an investment firm founded in 1982 that manages $27 billion. Seth authored the very out-of-print Margin of Safety and edited the recently released 7th edition of Graham and Dodd's value investing classic, Security Analysis. Our conversation covers Seth's early experience in business and investing, path to Baupost, timeless value investing principles and those that have changed over time. We discuss Baupost's application of value investing across sourcing, diligence, portfolio construction, and risk management. We then turn to Seth's thoughts illiquidity, international investing, the weird current environment, positioning portfolios for it, alignment with clients, succession at Baupost, and his updated perspectives on Securities Analysis and Margin of Safety. We close discussing Seth's personal investments in the Boston Red Sox, horse racing, and philanthropy. Seth generally stays away from the public eye, so I was particularly grateful to share this conversation some twenty-five years after we first met. For full show notes, visit the episode webpage here. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

In this episode I summarize and discuss a recent interview with legendary value investor Seth Klarman. During the interview Klarman discussed the “Everything Bubble” he sees unwinding, the investing opportunities that's bringing, the nature of value investing in relation to growth, buying quality companies at the right price, how to get an edge in the competitive investing environment today, technology investing in inefficient markets, Bitcoin, the current macroeconomic environment, and more. Timestamps: 00:00 Seth Klarman Intro 00:37 Security Analysis revised  00:59 The Everything Bubble 02:05 The Bubble timeline and investing opportunities: 4/10 03:26 Then and now: railroads to SPACs and crypto 04:44 What is value investing? Klarman's definition  05:48 How to think about growth in investing 06:10 Not overpaying for quality companies 06:54 Warren Buffett and buying the Index  07:37 How to get an edge 08:15 Inefficient markets and mis-priced stocks: META 09:09 Thoughts on technology disruption and crypto 09:43 Is Bitcoin digital gold? 10:32 Macroeconomic prediction and investing Related episodes: Why Druckenmiller Owns Nvidia Despite "Nosebleed Territory” https://youtu.be/QP496jwcumk Are AI Stocks A Bubble? Druckenmiller, Greenblatt Said… https://youtu.be/KmlXeoM5LLY Peter Lynch's 2023 Advice on Buying Stocks - Rare Interview https://youtu.be/sZKt5j1Rwi0 Investing Book referenced in this episode: Security Analysis, Seventh Edition: Principles and Technique, by Benjamin Graham, David Dodd, Seth Klarman - editor (referral link) https://amzn.to/444wP3K Using a referral link helps support the pod, thanks! The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 I use GuruFocus for historical, financial and valuation data, screeners, charts and comparison tools, to help me make smarter long-term investing decisions (refferal link): https://www.gurufocus.com/?r=2c95d5930bb2537b2e0265075fb66581 Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. --- Send in a voice message: https://podcasters.spotify.com/pod/show/theartofvalue/message

In this episode I summarize and discuss a recent interview with legendary value investor Seth Klarman. During the interview Klarman discussed the “Everything Bubble” he sees unwinding, the investing opportunities that's bringing, the nature of value investing in relation to growth, buying quality companies at the right price, how to get an edge in the competitive investing environment today, technology investing in inefficient markets, Bitcoin, the current macroeconomic environment, and more. Timestamps: 00:00 Seth Klarman Intro 00:37 Security Analysis revised  00:59 The Everything Bubble 02:05 The Bubble timeline and investing opportunities: 4/10 03:26 Then and now: railroads to SPACs and crypto 04:44 What is value investing? Klarman's definition  05:48 How to think about growth in investing 06:10 Not overpaying for quality companies 06:54 Warren Buffett and buying the Index  07:37 How to get an edge 08:15 Inefficient markets and mis-priced stocks: META 09:09 Thoughts on technology disruption and crypto 09:43 Is Bitcoin digital gold? 10:32 Macroeconomic prediction and investing Related episodes: Why Druckenmiller Owns Nvidia Despite "Nosebleed Territory” https://youtu.be/QP496jwcumk Are AI Stocks A Bubble? Druckenmiller, Greenblatt Said… https://youtu.be/KmlXeoM5LLY Peter Lynch's 2023 Advice on Buying Stocks - Rare Interview https://youtu.be/sZKt5j1Rwi0 Investing Book referenced in this episode: Security Analysis, Seventh Edition: Principles and Technique, by Benjamin Graham, David Dodd, Seth Klarman - editor (referral link) https://amzn.to/444wP3K Using a referral link helps support the pod, thanks! The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664 I use GuruFocus for historical, financial and valuation data, screeners, charts and comparison tools, to help me make smarter long-term investing decisions (refferal link): https://www.gurufocus.com/?r=2c95d5930bb2537b2e0265075fb66581 Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. --- Send in a voice message: https://podcasters.spotify.com/pod/show/theartofvalue/message

Blending Imagination with Expertise to Nurture your Investment Acumen  with Christopher Begg To truly thrive in investing, nurturing the right side of your brain and strengthening your investment acumen is critical. By cultivating and harnessing your creative edge, you can unlock the ability to see the bigger picture and make informed investment decisions. Exploring opportunities in certain uncertainties and volatile landscapes becomes a captivating endeavor driven by the pursuit of gaining an edge in investing. However, as an investor, stepping back and grasping the entire landscape proves invaluable, as it pushes you to delve into the depths of businesses, understand their culture, and meet their customers. This immersive process enables you to build a tangible understanding of the businesses you invest in, enhancing your competitive advantages and opening doors to alternative investment opportunities. By blending imagination, curiosity, and expertise, you pave the way for unrivaled insights and success in the dynamic world of investing. Christopher is the Chief Executive Officer, Chief Investment Officer, and co-founder of East Coast Asset Management. He also serves as an adjunct associate professor at the Heilbrunn Center of Graham and Dodd Investing at Columbia Business School, where he teaches Security Analysis.  Christopher's investment philosophy and passion for investing are something you can't miss! Tune in! What You Will Learn: [01:53] Christopher's background, how he began investing and ended up as an adjunct professor [06:44] Some of Christopher's most esteemed and favorite guest speakers over the years [09:47] Nurturing the right side of your brain to be more creative and see the bigger picture [15:31] Principles on how to strengthen your investment acumen [18:45] How Christopher works as a professor to help his students cultivate exploration of the right side of the brain [23:28] Investing in certain uncertainties and volatile investment environments.  [27:47] What Christopher looks for when investing and his process of making investment decisions  [30:27] Six principles to help you factor in Capital Allocation across geography in your decision-making process  [35:51] Is there an edge in investing that makes it worth pursuing?  [38:25] How understanding business through the eyes of an operator makes you a better investor  [41:43] The power and importance of expressing culture in every detail of your business [47:41] Christopher's perspective on where valuations are and what is keeping him awake at night [53:47] How to leverage AI for transformation and enhancing your competitive advantages   Standout Quotes: “In investing, stepping back and seeing the whole picture is so valuable.”- Christopher Begg [10:10] “The certain uncertainties are wonderful little models to see the fractal that exists across many systems.”- Christopher Begg [23:53] “As investors, we think we know everything there is about a business, but we have to go out and meet with these businesses, understand them, meet their customers and build tangible understanding of what the business and culture is”- Christopher Begg [33:19] “You can't outsource judgement; tohave judgement is to touch the source material.” - Christopher Begg [33:48]The information presented in this podcast or available on the website is not intended as and shall not be construed as financial advice. This podcast is produced for entertainment value. Investing is inherently risky. And I encourage you to seek financial advice from a professional who is aware of the facts and circumstances of your individual situation.

In 1934, professors Benjamin Graham and David Dodd published the intellectual foundation for investors everywhere: Security Analysis. In the decades since, investors have returned to this “bible” of investing; today, founder of the Baupost Group Seth Klarman is publishing a 7th edition of the iconic book. Klarman's first book on investing, the 1991 “Margin of Safety,” is a collector's item, with individual copies selling for about $1500 on eBay. In this very rare interview, Klarman shares his philosophy on investing, his take on bitcoin, the Federal Reserve, and the prospect of recession, as well as tips for what not to do in today's market.  In this episode:Andrew Ross Sorkin, @andrewrsorkinJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickCameron Costa, @CameronCostaNY

"Security Analysis" by Benjamin Graham and David Dodd is considered one of the most important and comprehensive books on value investing and fundamental analysis. Published in 1934, the book provides detailed insights into the principles and techniques of evaluating securities. 

Join us for a special episode of Absolute AppSec with James Wickett (@wickett on twitter), the co-founder of DryRun Security (dryrun.security), creator of the Lonestar Application Security Conference, and all around infosec industry veteran.

Jason Ridler is a writer, educator, historian, and expert on unconventional warfare and cold war strategy. He is a Teaching Fellow at John Hopkins and the Official Writing Instructor at Google. He primarily works as an education specialist and workshop leader, leading courses for organizations like Octave, Norwich University Peninsula Bridge, Honors Pathway, and the US Naval War College. Jason has also written more than 15 novels and has written articles for Diplomacy and Statecraft, Small Wars and Insurgencies, and Defense and Security Analysis. In this episode… Many people have a passion for writing, but they know how difficult it can be. Even as a hobby, discouragement and obstacles seem inevitable, hindering the creative process. Any forward progress can feel impossible when everything seems to be in opposition. However, this doesn't have to be the end. Jason Ridler is a prolific writer and educator, running many courses for established organizations and businesses. His own struggles of writing and finding success have led him to help others with his experience. It is far from easy, but it is possible, and here is what you need to know. Michael Roderick takes the time to interview Jason Ridler, an author and Teaching Fellow at John Hopkins University, to discuss the writing process and how to keep going. They break down the common hurdles of writing, how to keep your motivation, and dealing with rejection. The two also discuss networking and how to find the right audience for your writing.

In this episode, William Green chats with hedge fund manager Christopher Begg, who is the CEO, Chief Investment Officer, & co-founder of East Coast Asset Management. Chris is also a revered professor at Columbia Business School, where he teaches the Security Analysis class that was originally taught by Warren Buffett's mentor, Ben Graham. Here, Chris shares powerful lessons on how to identify high-quality businesses & build a life that's defined by a commitment to quality.IN THIS EPISODE YOU'LL LEARN:00:00 - Intro03:54- How Chris Begg came to teach an investing class originally taught by Ben Graham.10:29 - What Chris learned from his ten fireside chats with Berkshire Hathaway's Todd Combs.13:17 - What Buffett & Munger taught Chris about focusing on a few great businesses.17:58 - How he finds undervalued stocks by asking, “Where are the clouds today?”26:55 - Why he's bullish on Meta & Google, despite an array of perceived threats.36:09 - How he identifies great businesses by seeking 8 layers of competitive advantage.47:13 - How to succeed through “persistent incremental progress eternally repeated.”1:00:01 - Why investors can't afford to ignore a company's impact on the environment.1:06:40 - Why consistent kindness is a potent ingredient of success, helping to build trust.1:15:22 - How Chris gains an edge by continuously compounding his interdisciplinary knowledge.1:32:17 - What he's learned about the pursuit of excellence from surfing with Josh Waitzkin.1:40:48 - Why Chris structures his workday to include meditation & contemplation.1:50:46 - What studying Andrew Carnegie—once the world's richest person—has taught him.1:53:40 - Why Chris believes that the world is headed in a better direction.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCESChris Begg's investment firm, East Coast Asset Management.One from Many by Dee Hock.Nick Sleep's list of long-term vs short-term characteristics.Robert Pirsig's Zen & the Art of Motorcyle Maintenance, Lila, & On Quality.Finite & Infinite Games by James Carse.William Green's book, “Richer, Wiser, Happier” – read the reviews of this book.William Green's Twitter.NEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts. P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSIf you're aware you need to improve your bitcoin security but have been putting it off, Unchained Capital‘s Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS.Have peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves.What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union.Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today.Enjoy flexibility and support with free cancellation, payment options, and 24/7 service when booking travel experiences with Viator. Download the Viator app NOW and use code VIATOR10 for 10% off your first booking.Join over 5k investors in the data security revolution with Atakama.Apply for the Employee Retention Credit easily, no matter how busy you are, with Innovation Refunds.Invest your retirement savings in what YOU know and are passionate about with a Self-Directed IRA with New Direction Trust Company.Send, spend, and receive money around the world easily with Wise.Beat FOMO and move faster than the market with AlphaSense.Support our free podcast by supporting our sponsors.HELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Subscribers to the Security Analysis substack at www.securityanalysis.org get early access to these episodes.Today's interview is with Michael Fritzell.Michael Fritzell is a value investor based in Singapore who previously lived and worked in China.He is a top Substack financial writer.His Substack, Asian Century Stocks, profiles fascinating companies i… This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.securityanalysis.org/subscribe

In this episode of the Stansberry Investor Hour, Tobias Carlisle discusses the current investment landscape and how many value investors have shifted their focus to growth stocks.  Prior to the interview, Dan discusses the concept of "Mr. Market" versus the "smart money". He cites a quote from Benjamin Graham's book Security Analysis, where he states that the stock market is a voting machine in the short term and a weighing machine in the long term. While this may be true for some companies, Dan suggests that there are many whose value doesn't change nearly as much as the stock market suggests, citing periods of sideways movement in the stock market as examples. Then Dan and Tobias delve into the energy sector, noting the challenges of transitioning to EVs and solar. Tobias emphasizes the limitations of nuclear energy and the challenges of investing in the financial and banking sector. He prefers investing in businesses that are in a more broken-down state and cites coal companies as an example. ➡️ Watch Here

In this episode of the Stansberry Investor Hour, Tobias Carlisle discusses the current investment landscape and how many value investors have shifted their focus to growth stocks.  Prior to the interview, Dan discusses the concept of "Mr. Market" versus the "smart money". He cites a quote from Benjamin Graham's book Security Analysis, where he states that the stock market is a voting machine in the short term and a weighing machine in the long term. While this may be true for some companies, Dan suggests that there are many whose value doesn't change nearly as much as the stock market suggests, citing periods of sideways movement in the stock market as examples. Then Dan and Tobias delve into the energy sector, noting the challenges of transitioning to EVs and solar. Tobias emphasizes the limitations of nuclear energy and the challenges of investing in the financial and banking sector. He prefers investing in businesses that are in a more broken-down state and cites coal companies as an example. ➡️ Watch Here

Information Flow Tracking (IFT) is a useful tool to reason about security of a system. It can be applied at different levels of abstraction - starting from operating system all the way to gate-level circuits through various representations of software and hardware. In this talk, we will focus on IFT at the register transfer level (RTL) representation of hardware and discuss how IFT can be applied to find various types of RTL security vulnerabilities. We will discuss an inductive formulation of the problem based on leakage alert and propagation alert that offers a scalable solution and micro-architecture-level design insights compared to more traditional formulations. We will end the talk by outlining some of the research challenges that we need to address to push the boundary further. About the speaker: Dr. Sayak Ray is a Security Researcher at Intel Corporation. His area of research includes tools and automation for security validation, security challenges in FPGA, heterogeneous computing and data center networking. Dr. Ray regularly publishes at design automation conferences and journals. He has served on technical program committees of various conferences such as DAC and ICCAD. Before joining Intel in 2016, he was a Post-doctoral Research Associate at Princeton University. Dr. Ray obtained his PhD from UC Berkeley in 2013. 

Benjamin Graham (8 tháng 5 năm 1894 - 21 tháng 9 năm 1976) là một nhà kinh tế học, doanh nhân và là nhà đầu tư nổi tiếng và chuyên nghiệp người Anh-Mỹ. Không những thế, Graham được coi là người khai sinh ra trường phái đầu tư giá trị. Ông bắt đầu giảng dạy về trường phái này tại Trường Columbia vào năm 1928 và sau đó cộng tác với David Dodd xuất bản cuốn sách nổi tiếng Phân tích chứng khoán (Security Analysis). Học trò của Benjamin bao gồm: Warren Buffett, William J. Ruane, Irving Kahn, Walter J. Schloss và những người khác. Warren Buffett mô tả ông là người có ảnh hưởng lớn thứ hai trong cuộc sống của mình. Thậm chí, Warren Buffet và Irving Kahn có lấy họ Graham làm tên đệm cho con trai của mình là Howard Graham Buffett và Thomas Graham Kahn.

Congress is about to vote on a $1.7 TRILLION Omnibus Spending Bill which is receiving lot of criticism. I analyze the Bill.  An investigation into CLEAR, the TSA, and the current state of the airport security experience.  Perry Rahbar defied tough market conditions and sold his Fin-Tech start-up DV01 this year. He joins us to discuss many entrepreneurial lessons learned and the global economy.  American birth and marriage rates are plummeting. A Special Guest joins to discuss the social and economic factors driving these new mating/family norms. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Jeff Hooke returns to M&A Talk to discuss the world of private equity and the truth about returns from private equity fund investments. He digs into the private equity markets, highlighting the fact that the PE industry does not beat the public market, despite what investors want you to think. Jeff discusses pension funds, private equity funds vs. the public market, the gold standard for institutional investment funds, tips, advice, and book recommendations from Wall Street history to the Old West. View the complete show notes for this episode. Learn More: The Myth of Private Equity, An Inside Look at Wall Street's Transformative Investments (Columbia University Press, 2021) M&A, A Practical Guide to Doing the Deal (John Wiley & Sons, 2nd edition, 2015) Security Analysis and Business Valuation on Wall Street: A Comprehensive Guide to Today's Valuation Methods (Wiley, 2nd edition, 2010) The Emerging Markets: A Practical Guide for Corporations, Lenders, and Investors (John Wiley & Sons, 2001) The Dinosaur Among Us: The World Bank and its Path to Extinction (BookSurge, 2007) Additional Resources: Get your copy now of A Beginner's Guide to Business Valuation, The Art of the Exit: The Complete Guide to Selling Your Business, The Exit Strategy Handbook: A Complete Guide to Preparing Your Business for Sale, and Closing the Deal: The Definitive Guide to Negotiating the Sale of Your Business Are you selling a business? Schedule a free consultation now. Listen to Other Episodes: IPOs, Private Equity, and Preparing for the Sale The Private Equity Toolkit The Basics of Private Equity

Welcome to another episode of the Conversations for Financial Professionals podcast where we are shaping the next generation of financial advice.   Stephen Schiestel is currently the Frederick S. Addy Professor of Practice in Finance at the Eli Broad College of Business at Michigan State University.  He received his MBA in 1998 from Michigan State University and a B.B.A. in Finance from the University of Michigan-Flint in 1991. Schiestel teaches undergrad and grad students in Security Analysis, Valuation, Financial Planning and Wealth Management and Corporate Finance.  He is the director of the College's Financial Planning and Wealth Management programs. He has won several teaching awards including winning the Executive MBA Teaching Award four times.  Prior to coming to Michigan State, Schiestel held management positions in the Wealth Management Division of Citizens Bank, now part of Huntington Bank.     In this episode, you'll discover:

נחשון פינקו מארח את מאור ורמכת ראש צוות מחקר חולשות ומומחה סייבר לבקרה בחברת ג'יפרוג, בשיחה על הצורך של יצרנים לזהות חולשות חומרה ותוכנה כחלק אנטגרלי מתהליך הפיתוח. מה הפעילות של ג'יפרוג בתחום זיהוי חולשות ברכיבי בקרה ובכלל התמודדות עם כניסה מסיבית של רכיבי אי.או.טי לסביבות התפעוליות ירידת המחירים הדרסטית של סנסורים במערכות בקרה והמשמעות הישירה על הצורך בבקרות מפצות לסיכוני סייבר ועוד Nachshon Pincu hosts Maor Vermucht, Security Analysis Team Leader | ICS Security Expert at JFrog, in a conversation about the need for manufacturers to identify hardware and software vulnerabilities as an integrated part of the development process. What is the activity of JFrog in identifying control components vulnerabilities as part of R&D? How to deal with a massive entry of IoT components into the operational environments The drastic price drop of sensors in control systems and the direct implication of the need for compensatory controls for cyber risks and more

Use of Ransomware as a class of malware has exploded in recent years, causing millions in damages to organizations across the world. The damage isn't slowing down. On the contrary, ransomware as a tool is being adopted by a wide array of perpetrators. This includes nation-states, for cash, and to use the demand for cash to obfuscate activities like espionage and sabotage. Ransomware has become a powerful tool of asset seizure and extortion, being used by criminals, activists, and even sanctioned governments for multiple purposes including use as a weapon of war. The use of ransomware and its close cousin, wiperware, is only accelerating. In this talk, we will examine how the proliferation of ransomware brought us to this point, what it means for current global conflicts, and for the future of cyberwarfare. About the speaker: Maggie MacAlpine is the Cyber Engagement Lead for MITRE's Center for Threat Informed Defense. Prior to this appointment she served as a security strategist for Cybereason and, during her decade-long career focused on cybersecurity, Ms. MacAlpine also co-founded the DEF CON Voting Village, served as a contributing researcher on the "Security Analysis of the Estonian Internet Voting System" (in partnership with the University of Michigan), and appeared in the HBO documentary, "Kill Chain". She has discussed cybersecurity threats at numerous conferences including DEF CON, the Diana Initiative, ShmooCon Hacker Conference, PacSec Tokyo, as well as in presentations to Capitol Hill and the US Naval War College.

Episode Overview The Book: Security Analysis "A road map for investing that I have now been following for 57 years." --From the Foreword by Warren E. Buffett First published in 1934, Security Analysis is one of the most influential financial books ever written. Selling more than one million copies through five editions, it has provided generations of investors with the timeless value investing philosophy and techniques of Benjamin Graham and David L. Dodd. As relevant today as when they first appeared nearly 75 years ago, the teachings of Benjamin Graham, “the father of value investing,” have withstood the test of time across a wide diversity of market conditions, countries, and asset classes. Reviewed By: Dr. DeWitt Scott

Today's episode is based on wisdom from Security Analysis by Ben Graham and David Dodd. Listen and Enjoy :) Here is my Motivation Podcast Connect with me on LinkedIn Leave a Review --- Support this podcast: https://anchor.fm/premillshow/support

IN THIS EPISODE, YOU'LL LEARN:02:38 - Why Security Analysis is one of Warren Buffett's three favorite books.11:49 - Real case studies where Warren Buffett has directly applied skills acquired from Security Analysis.13:05 - The highlights for each of the 7 major parts in Security Analysis.30:08 - The difference in opinion between Benjamin Graham and Warren Buffett when it comes to dividends.*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESPreston & Stig's book, Security Analysis (100 Page Summary) – Read reviews of this book.Benjamin Graham's book, Security Analysis – Read reviews of this book.Benjamin Graham's book, The Intelligent Investor – Read reviews of this book.Philip Fisher's book, Common Stocks and Uncommon Profits – Read reviews of this book.Adam Smith's book, The Wealth of Nations – Read reviews of this book.Preston and Stig's, Video Lessons.Preston, Trey & Stig's tool for picking stock winners and managing our portfolios: TIP Finance Tool.Get in early on medical technology, breakthroughs in ag tech and food production, solutions in the multi-billion dollar robotic industry, and so much more with a FREE OurCrowd account. Open yours 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.Push your team to do their best work with Monday.com Work OS. Start your free two-week trial today.Buying or selling Gold is as easy as buying a stock with Vaulted. No minimum investment required.Discover how leading companies, from cloud-native startups to global enterprises, are automating, simplifying and optimizing their cloud infrastructure with Spot by NetApp.Get the most from your bitcoin while holding your own keys with Unchained Capital. Begin the concierge onboarding process on their site. At the checkout, get $50 off with the promo code FUNDAMENTALS.Provide future financial protection to the people who matter most to you with the help of TD Term Life Insurance.Live local in Melbourne and enjoy $0 Stamp Duty*!The interval fund, a breakthrough innovation. Only at Mackenzie.Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One.Invest in crypto and trade it without tax headaches with AltoIRA.Balancing opportunity and risk? The golden answer can be literally gold! Start your investment journey today with Perth Mint.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.HELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Sabbath Lounge interviews Joshua Myers!  Joshua Myers a feast keeping, sabbath following, Messiah following believer! He is a published author, cartoonist, blogger, T-shirt designer. Joshua Myers is a husband and father of four children. Two of those being identical twins and deaf. He spent most of his working career in IT, ending in Security Analysis. He now is a stay at home dad, doing various freelance jobs as well as creating Biblically based comics.  Links: https://beacons.ai/jnmyers?fbclid=IwAR06hvZho50CVxs7gV9zfG56Efqs5Y42_OCzzyoyCJbILUPxCwsv_J4WgLg http://thestraightandnarrow.cfw.me/comics/444?fbclid=IwAR0imu_ITu8m4c745QekQhvl1ah2ofN2WByYKifgiv7e1KfoZpfTb2iL1ZM http://thestraightandnarrow.cfw.me/

Links and vulnerability summaries for this episode are available at: https://dayzerosec.com/podcast/dirty-pipe-and-analyzing-memory-tagging.html No spot the vuln this week, but we do have a cool kernel bug, "Dirty Pipe", a look at a stack based overflow: BrokenPrint, and finally some discussion about memory tagging. [00:00:31] The Dirty Pipe Vulnerability [00:18:26] BrokenPrint: A Netgear stack overflow [00:30:21] Security Analysis of MTE Through Examples [BHIL2022] The DAY[0] Podcast episodes are streamed live on Twitch (@dayzerosec) twice a week: Mondays at 3:00pm Eastern (Boston) we focus on web and more bug bounty style vulnerabilities Tuesdays at 7:00pm Eastern (Boston) we focus on lower-level vulnerabilities and exploits. The Video archive can be found on our Youtube channel: https://www.youtube.com/c/dayzerosec You can also join our discord: https://discord.gg/daTxTK9 Or follow us on Twitter (@dayzerosec) to know when new releases are coming.

Beschreibung: In dieser Folge unterhalten wir uns über Netzwerksicherheit. Zuerst erörtern wir kurz die Grundlagen von Netzwerken und dann gehen wir auf verschiedene Angriffsszenarien ein und diskutieren auch über die Verteidigungsmöglichkeiten. Viel Spaß beim Hören! Shownotes: The Creepy, Long-Standing Practice of Undersea Cable Tapping Introduction to RAW-sockets (pdf) Scapy WinPcap Port-Scanner: Nmap Segfault.fm Episode 0x0f TLS RFC 2827 (BCP 38) Segfault.fm Episode 0x03 Serial Killer Misbehaving TCP Receivers Can Cause Internet-Wide Congestion Collapse (2005) Security Analysis of the Micro Transport Protocol with a Misbehaving Receiver RFC 9000 QUIC: A UDP-Based Multiplexed and Secure Transport smurf.c Vater jammed das Mobilfunknetz nachts RFC 5961 BGB Hijacking Angriff auf Kryptounternehmen

Beschreibung: In dieser Folge unterhalten wir uns über Netzwerksicherheit. Zuerst erörtern wir kurz die Grundlagen von Netzwerken und dann gehen wir auf verschiedene Angriffsszenarien ein und diskutieren auch über die Verteidigungsmöglichkeiten. Viel Spaß beim Hören! Shownotes: The Creepy, Long-Standing Practice of Undersea Cable Tapping Introduction to RAW-sockets (pdf) Scapy WinPcap Port-Scanner: Nmap Segfault.fm Episode 0x0f TLS RFC 2827 (BCP 38) Segfault.fm Episode 0x03 Serial Killer Misbehaving TCP Receivers Can Cause Internet-Wide Congestion Collapse (2005) Security Analysis of the Micro Transport Protocol with a Misbehaving Receiver RFC 9000 QUIC: A UDP-Based Multiplexed and Secure Transport smurf.c Vater jammed das Mobilfunknetz nachts RFC 5961 BGB Hijacking Angriff auf Kryptounternehmen

Jeff Hooke is a senior finance lecturer at the Johns Hopkins Carey School of Business.  Earlier, he was a managing director at Focus, LLC, an investment bank serving middle market companies.  He served as Vice President of Research at the Committee on Economic Development. Previously, Hooke operated his own consulting firm, was a director of Emerging Markets Partnership (a $5 billion private equity fund), a principal investment officer of the World Bank Group, and an investment banker with Lehman Brothers and Schroder Wertheim, respectively, two prominent securities firms based in New York.    In addition to " The Myth of Private Equity," Hooke is the author of four other books:  Security Analysis on Wall Street (1998, 2nd edition 2013), M&A:  A Practical Guide to Doing the Deal (1996, 2nd edition 2015), The Dinosaur Among Us: The World Bank and Its Path to Extinction, and The Emerging Markets (2001). He has co-authored several peer-reviewed academic papers in finance and has written many position papers for non-profit think tanks. He holds an MBA from the Wharton School and a BS from the University of Pennsylvania.  Besides Hopkins, Mr. Hooke has taught at several universities and the New York Institute of Finance. He lectures on finance topics at industry forums around the world, including the CFA societies of New York, Philadelphia, Atlanta, Baltimore, Washington, London, Paris, Moscow, Munich, Istanbul, Copenhagen, Beijing, and Bangkok.

https://make-your-pitch.com The Co-Sponsor for this Episode is B.E.T. A business platform that gives you all the information and tools you need to advance your business as well as the understanding of how to run your business most effectively and profitably. To learn more check out the: Video: https://bit.ly/368rSKk Website: www.yvrbet.com The Co-Sponsor for this episode is CRM Engine. A Customer Relation Management system that provides a 4 Module Solution, Standard Customization by the CRM Engine Team, Unlimited Users, Unlimited Data, Unlimited Records, Cloud Hosting, Security Updates, and Daily Backups as well as On-Going support (Usually Same Day) Go Here to Learn More: Website: CRMEngine.co.uk/makeyourpitch https://make-your-pitch.com The Co-Sponsor for this Episode is B.E.T. A business platform that gives you all the information and tools you need to advance your business as well as the understanding of how to run your business most effectively and profitably. To learn more check out the: Video: https://bit.ly/368rSKk Website: www.yvrbet.com The Co-Sponsor for this episode is CRM Engine. Make-Your-Pitch https://make-your-pitch.com The Co-Sponsor for this Episode is B.E.T. A business platform that gives you all the information and tools you need to advance your business as well as the understanding of how to run your business most effectively and profitably. To learn more check out the: Video: https://bit.ly/368rSKk Website: www.yvrbet.com The Co-Sponsor for this episode is CRM Engine. Make Your Pitch Appo Agbamu is founder and CEO of Ahrvo. He leads and owns the firm, who has created the entity and navigates his organization through the industry of Financial areas protecting many areas of regulation through the use of the blockchain and includes some of the Cryptocurrency world as well. Appo was born in New York and raised in Minnesota. He grew up in a household led by his Dad, a professional in the financial industry. He read books like Security Analysis, Common Stocks, Uncommon Profits, Intelligent Investor. Appo studied accounting and economics at the University of Minnesota, Duluth earning a degree in financial markets and co-managed approximately two billion in assets with his academic mentor a lead portfolio manager at Bank of America. He began building his first company that used multi-factor ranking system, looking at data that is correlated with future performance. The Ahrvo Investment App uses a multi-factor ranking systems. Today, Appo focuses on Ahrvo Comply which streamlines the entire on-boarding process and client lifecycle in a compliant way. The platform is fully integrated and handles identity management, document management, transaction management and data management. We handle know your customer, know your business, anti-money laundering, facial recognition, biometrics, doing live-ness testing. We also track the information across over 1,000+ inhouse databases. In AML we track international watch lists, domestic watch lists, politically exposed persons, criminal background checks, sex offenders, legal professionals, financial professionals, non-profits businesses, criminal watch lists, legal professionals, money services businesses. Ahrvo covers databases in a vast structure and cover the main sanction lists including a state and province level as well. What makes our system and company unique is that we also have an active cybersecurity overlay to our compliance approach where we are looking in real-time to understand malware feeds and using that information to understand our users. Our system will trigger some type of alert when several people onboarded from specific regions. Ahrvo Comply uses identity document transaction and data management. The identity management is the KYC, KYB, and AML and the document management component is the PDF editor, document OCR, or Optical Character Recognition used to extract information from PDFs and E-signature and file sharing. The Onboarding system verifies who the person is then we exchange some documents with that person. The last component is transaction management which is used for both Fiat and Crypto Assets. Keywords: multi-factor ranking systems on-boarding process client lifecycle identity management document management transaction management data management know your customer know your business anti-money laundering facial recognition biometrics live-ness testing international watch lists domestic watch lists politically exposed persons criminal background checks sex offenders legal professionals financial professionals non-profits businesses criminal watch lists legal professionals money services businesses

In this episode, Mary talks with Tyler Adams, Co-founder, President and COO at CertifID who lends his expertise to a candid discussion about who fraudsters are targeting, how they further manipulate an already stressful environment for gain and how to identify potential areas of vulnerability. You can reach Tyler via email at tadams@certifid.comDuring the interview, Tyler mentioned the following: Learn more about CertifID's $1,000,000 guarantee when you use their "trip insurance for your wire."CertifID offers a free Security Analysis - start here.Phishing Scams for Business Email - read an article Tyler wrote. The SolarWinds Hack explained. 60 Minutes recently presented this video on the subject, too.CertifID is integrated with a number of tile and settlement software production solutions. You can also read more about their integration through RamQuest's Closing Market.You can also download this infographic highlighting Tyler's interview insights as a companion piece for the episode.If you'd like to contact the Pandemic Podcast, email podcasts@ramquest.com. Don't forget to subscribe, rate, and review this podcast on Apple Podcast, Spotify, or wherever you listen to podcasts, or visit RamQuest.com/pandemicpodcast to download the latest episode. Lastly, we love to see when and how you're listening. Share our posts, or create your own and tag them: #PandemicPracticesPodcast

★DOWNLOAD THIS FREE PDF SUMMARY BY CLICKING BELOW https://go.bestbookbits.com/freepdf