Valuation Lessons, Investing, & Life w/ Aswath Damodaran

William Green speaks with valuation guru Aswath Damodaran, who has written numerous books on how to value companies and invest successfully. The ultimate teacher, Aswath is a legendary professor of finance at NYU who has also made his classes available for free online to millions of followers around the world. In this conversation, he shares insights on how to value stocks, find the right investment strategy for you, and build a joyful life.

IN THIS EPISODE, YOU'LL LEARN:
00:00:00 - Intro
00:00:07 - Aswath Damodara's childhood and upbringing in India
00:03:15 - Aswath Damodara's move to America
00:05:15 - How Aswath Damodara discovered his passion for teaching
00:08:20 - Why it’s so valuable to build unscheduled “day-dreaming time” into your day.
00:11:06 - Why it’s a competitive advantage to be a generalist in a world of specialists.
00:21:41 - What 42 years as a professor has taught Aswath about how to communicate.
00:29:08 - Why he’s intensely skeptical about the ESG movement.
00:39:46 - Why he owns no cryptocurrencies and views Bitcoin as a currency “for the paranoid.”
00:46:45 - Which investment principles guide him.
00:50:17 - How to identify the investment philosophy that fits best for you.
00:56:47 - How he values businesses by focusing on three key drivers above all else.
01:11:12 - Why he’s glad that he sold Amazon and Tesla, and how he hit the jackpot with Apple.
01:16:24 - Which investors he admires the most.
01:23:00 - Alibaba and China's government
01:24:49 - Macroeconomics and Valuation
01:27:04 - Why he believes that macroeconomic forecasting makes soothsayers look good.
01:29:26 - How he maintains his serenity in difficult times, both in markets and life.
01:31:31 - Why it’s so important to spread your bets and not concentrate too aggressively.
01:35:08 - How “small, right” actions can have a massive impact on you and others.
01:44:50 - Why he treasures the freedom to speak his mind, quit his job, and walk away.

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[TheInvestorsPodcastNetwork]

It was an absolute delight speaking with Aswath Damodaran on the #RicherWiserHappier podcast. We talked about valuing stocks; his views on Bitcoin, Tesla, Amazon & Alibaba; his skepticism about ESG; and a whole lot more. Hope you enjoy it! - William

We hope you enjoyed this episode as much as we did. Please let us know your thoughts in the comments section!

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[HomoOeconomicus]

It amazes me how humble he is; he basically takes all youtuber requests and he talks for hours; he shares every kind of data and study materials on his webpage/YouTube Chanel, my finance professor had a huge arrogance and ego.

[TooAjitQuit]

I went into this interview expecting a dry lesson on stock valuations and came out with a masterclass on living life with purpose and intention. Tremendous wisdom, thank you for sharing.

[robbarnett]

Professor Damodaran is a gift to the investing world. I am very grateful for having had the opportunity to attend his course at NYU. I attribute all of my investing success to him. Thank you for this very thoughtful interview with this legendary educator.
Best regards, Rob.

[santomenon]

Thoroughly enjoyed it. He plays the devils advocate to the hilt. If i were to be the CEO, i will make him the Chief Conscience Officer.

[ghalibkhan]

this is an excellent series of interviews. William Green has clearly done a lot of research for each interview

[VanNguyen]

I consider myself being extremely lucky as I came across this interview. There are so much that I can relate including the joy (and the luxury) to be alone and keep myself away from all the noise. This interview is filled with wisdom, humility and lessons for life. I actually downloaded this as I know I would want to listen to it again. Thank you, an awesome interviewer who is extremely good at listening. Thank you, professor. You are the gift to humanity!

[rahulgoyal]

Aswath damodaran bring me to this page and I am really happy that I can find rich content on this channel as well

[heygodthisside]

Can someone value the impact this gem of a teacher have had on investing education world?

[ergun_unutmaz]

I follow Prof. Damodaran's teachings with a deep interest and I am happy to have so many overlapping ideas with him, on investment philosophy and on life in general. Today I had plenty of things to do, but the length of the video didn't intimidate me. I rescheduled my agenda and I enjoyed every moment of it. Very inspiring. Thanks for the conversation.

[mohanvalrani]

Aswath, you are a great human being; sharing knowledge is the best method of giving. Compliments from a 80 year old.

[AnandSinghVentures]

I remember watching his each of his class on youtube for 3 - 4 times. Thanks professor I owe a lot to you. Great interview.

[lucianosoar]

Great Interview. The option of abandon at the end is a golden rule for life. This man deserve a Nobel! He does in life in everyday teaching, spreading his knowledge for free making a world better....exactly what ESG companies say they do mostly for marketing than a true core value.

[decanioandres]

Excelent and beautifull interview, we need more TEACHERS like him in the world . thanks Prof Damodaran

[jkj]

IT IS FIRST TIME THAT I SPEND OVER ONE AND HALF HOUR WITHOUT BORING . THANK YOU . I LOVE THAT STRATEGY OF INCRIMENTAL PROCESS THAT HE KEEPS DOING .

[sukhbirkapoor]

Thank you for the enlightening podcast. Aswath is amazing and a big motivator . God’s gift to the world !

[spandya]

What an amazing interview. Respect to professor! 🙏🙏. Great questions by interviewer as well.

[havrenne]

Just wow ! I knew Damodaran a little bit already through some of his classes, but Green here completed the picture and insisted on very core questions. After this interview I would say Damodaran is now my favorite investor. The process, attitude and philosophy are just impeccable.

[smilingstar]

Every minute was worth its weight in gold/bitcoin or whatever it is. Aswath shares so many useful & enduring investing insights & most importantly humility!!!

[miguelpujante]

What a masterpiece of a podcast with an amazing guest. Keep bringing this type of content. Thank you so much.