Paul J. Isaac – Master Class

Published on
August 2nd, 2016
55 minutes

Paul J. Isaac – Master Class

Master Class ·
Featuring Paul Isaac

Published on: August 2nd, 2016 • Duration: 55 minutes

In the current climate of uncertainty, look for value, that’s according to Paul Isaac, CEO & Founder of Arbiter Partners Capital Management. Watch as he explains his investment framework and trading style.


  • JC
    John C.
    5 October 2020 @ 06:42
    Sage advice indeed. Low key and humble for certain! JCG
  • PP
    Preston P.
    5 August 2016 @ 02:12
    Great comments and a good interview. My wife came into the room and asked me if I was listening to someone read the dictionary.
    • DL
      Dan L.
      1 May 2018 @ 21:36
      This is hilarious
  • NS
    Noelle S.
    7 August 2016 @ 23:49
    He is old school, respectful, and seemingly expecting that the underlying structure the Fed is monkeying with will not be broken very bad when whatever is coming arrives.
  • JP
    J P.
    3 August 2016 @ 04:15
    I know Paul, he is not only brilliant, but a truly fine human being, with a good heart.
  • SK
    Stan K.
    3 August 2016 @ 01:29
    The intellectual horse power on this guy is off the charts. Amazing. baffled by the dislikes.
  • DS
    David S.
    2 August 2016 @ 07:27
    Re: Dale H. : We are in completely uncharted territory. Governments like Italy will continue to try to save their citizens and their economies by any means they hope might work; as they should. My biggest concern is the Euro bureaucrats in Brussels promulgating rules and procedures trying to save the Euro which was a failed currency from the beginning. It has, however, generated full employment for bureaucrats at very high salaries. Speaking of highly paid bureaucrats check out the IMF audit on the IMF. I wish I could help on the investment side, but it is way above my pay grade. DLS
  • DH
    Dale H.
    2 August 2016 @ 06:04
    Interesting. I don't feel qualified to give a critique, (or agree), but I am still nervous about buying bank shares. I think there are probably some good value companies out there, not sure if I can find them... An in depth understanding of company analysis methods would be a must? A question I have is, how unprecedented is this economic situation today and how much of the tried and true ways of the wonderful past experience shown here is still viable today? Eg unprecedented 'crazy' debt, possible disappearance of liquidity and if the Fed is actually damned if it does or doesn't act.... Just to mention some thoughts I grapple with.
  • DS
    David S.
    2 August 2016 @ 01:21
    Although the US banks were forced to capitalize by the US government vis-a-vis European banks, they still have a lot of risk being large international banks. I understand from today's news that Goldman Sachs, JP Morgan, and other major European Banks are guaranteeing bonds(?) issued by the by Banca Monte dei Paschi de Siena at four or five times the book value of the bank (One source). This should mean that the market value of the bank is completely wrong and the current book value is completely wrong. If the banks portfolio had any reasonable value, these international banks could buy the the entire bank for 20 cents on the dollar. The international banks are guaranteeing these investments so the government of Italy can buy the bonds. (I understand that the new EU rules do not allow Italy to buy the bonds of a failed bank directly, so how about indirectly? ) The new, brilliant bureaucratic EU rules would force Italy to take the money from the equity holders, the bond holders and a lot of the Italian citizens who have savings in the bank. The Italian government did this on some small banks with terrible social effects. This is another slight of hand caused by bureaucratic laws coupled with bad banking practices. When will it stop. When will it make sense. I commented on this in an earlier posting on RVTS that the Italian government had to find a way around the EU rules. This seems a reasonable but unnecessary slight of hand. With EU rules that actually confiscate depositors account like in Cypress, why would anyone put money in bank governed under the EU???? This is a new story out today, so you should look into it to make sure my assumptions are correct. DLS
  • RA
    Robert A.
    1 August 2016 @ 23:47
    Can only imagine a long late night conversation between Paul and Jim Grant with enough dry wit to have we mortals in stitches. Grant, here is another Bull for the scales----basically likes Equities here with the caveat that you had better figure out a way to hedge the increasing 3 & 4 sigma fat tails. Really liked this one Raoul and Grant and per Yeager this will increase my upgraded circle of those I can't outperform, but sure can learn from.
  • JM
    James M.
    1 August 2016 @ 21:37
    Brilliant. This was one of the more insightful interviews about the investment process I have heard on Real Vision. I particularly liked the comment on binary investment decisions and the inherent danger with that kind of thinking.
  • de
    dale e.
    1 August 2016 @ 20:26
    Excellent, but way out of my league. keep it up. Dale from ar
  • CC
    Christopher C.
    1 August 2016 @ 19:32
    Unbelievably rich content. Feel like I ate a pound of Creme Brulee for dinner. Brain is way full. Will definitely be watching this one over and over and am looking forward to it becoming readily digestible and being enjoyable while doing so. Thanks again Grant and Raoul. And thank you Paul for sharing.
  • RM
    Richard M.
    1 August 2016 @ 16:20
    Wow, what a brilliant gentlemen (no wonder Jim Grant speaks so highly of him)! A very entertaining, illuminating, and educational Master Class as usual (something RVTV excels at)!!! Thank you all very much.
  • GT
    Graham T.
    1 August 2016 @ 15:02
    As I said before , join us and the Directors in STAN.L One of the very few bullish outlooks for selective equities these days. Julian Brigden said the same thing from a trading perspective.
  • RM
    Robert M.
    1 August 2016 @ 14:05
    Very interesting perspective. We have had negative rate before like he said. just not nominal.