50:02

PlusThe Big Picture

Value I: Diamonds in the Rough

Featuring Stephen Clapham and Tobias Carlisle

Oct 29, 2020 • 50 minutes

112

8

Plus

The Big Picture

Value I: Diamonds in the Rough

Stephen Clapham and Tobias Carlisle build a framework for finding deep value in an overwrought market.

Featuring Stephen Clapham and Tobias Carlisle

Oct 29, 2020 • 50 minutes

In the first installment of his series on value investing, Stephen Clapham of Behind the Balance Sheet is joined by Tobias Carlisle, principal and founder of The Acquirers Multiple. Clapham and Carlisle explore how to make money by investing in beaten-down "value" stocks -- those not raised by the tide of low-interest rates that have buoyed so many "growth" stocks with no earnings such as Zoom or Chewy. Carlisle draws upon the past 150 years of the historical performance of value stocks over growth stocks, using these historical trends to build a framework for identifying opportunity going forward. Filmed on October 22, 2020. Key learnings: There are periods of irrationality so extreme that value investors with perfect clairvoyance will still fail to outperform the market. Nevertheless, mean reversion to value is an enduring historical trend, and in 2020, deep value stocks offer a favorable risk/reward. Shorting stocks is dangerous, but if undertaken, should be done only when the momentum is moving against the stock. Steve Clapham's investment service, Behind the Balance Sheet, can be found here: https://www.behindthebalancesheet.com/ Show More

Three views, one topic. In RV's latest monthly deep dive, we deliver a range of timely, actionable, and well-rounded perspectives on the subjects investors most need to know about. Join a member of Real Vision's editorial team on this in-the-weeds exploration of a wide range of topics, including global macro, crypto, and specific sectors. Available exclusively to Real Vision's Plus, Pro, and Blacklist members.

More Episodes

Three views, one topic. In RV's latest monthly deep dive, we deliver a range of timely, actionable, and well-rounded perspectives on the subjects investors most need to know about. Join a member of Real Vision's editorial team on this in-the-weeds exploration of a wide range of topics, including global macro, crypto, and specific sectors. Available exclusively to Real Vision's Plus, Pro, and Blacklist members.

More Episodes

COMMENTS

Sort By
  • Newest First
  • Oldest First
  • Top Rated
  • Most Discussed
  • Most Controversial

Access Plus Content

This content is reserved for the thousands of visionaries supporting the financial revolution. We'd love for you to join us. Interested?

See Our Plans

Already have an account? Log In