{"id":196927,"date":"2023-09-29T11:00:00","date_gmt":"2023-09-29T15:00:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=196927"},"modified":"2023-09-29T13:01:24","modified_gmt":"2023-09-29T17:01:24","slug":"much-needed-therapy-for-value-investors","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/podcasts\/contributor-podcasts\/much-needed-therapy-for-value-investors\/","title":{"rendered":"Much Needed Therapy for Value Investors"},"content":{"rendered":"\n<p>It has been a painful last decade for value investors. In this episode, our good friend Tobias Carlisle returns to commiserate about the struggles of value and also to talk about the future opportunity it may create. We discuss value spreads, the importance of enduring pain, the comparison with 2000 and a lot more. We also get an update on Toby\u2019s new book.<\/p>\n\n\n\n<p><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/excess-returns-after-hours-with-tobias-carlisle-some\/id1490296778?i=1000629363436\" target=\"_blank\" rel=\"noreferrer noopener\">Listen on Apple<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/open.spotify.com\/episode\/6dqEOk8DoVZn5M2ERzayVy\" target=\"_blank\" rel=\"noreferrer noopener\">Listen on Spotify<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/youtu.be\/SXosUPI8ATU\" target=\"_blank\" rel=\"noreferrer noopener\">Watch on YouTube<\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=96s\" target=\"_blank\" rel=\"noreferrer noopener\">01:36<\/a>&nbsp;\u2013 Does value need a catalyst to turn around?<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=255s\" target=\"_blank\" rel=\"noreferrer noopener\">04:15<\/a>&nbsp;\u2013 Value investors have to enjoy pain<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=346s\" target=\"_blank\" rel=\"noreferrer noopener\">05:46<\/a>&nbsp;\u2013 Comparisons between the current period and 2000<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=503s\" target=\"_blank\" rel=\"noreferrer noopener\">08:23<\/a>&nbsp;\u2013 David Einhorn\u2019s thoughts on the market revaluing companies<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=762s\" target=\"_blank\" rel=\"noreferrer noopener\">12:42<\/a>&nbsp;\u2013 The challenge with finding the bottom<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=1010s\" target=\"_blank\" rel=\"noreferrer noopener\">16:50<\/a>&nbsp;\u2013 Value investors are always buying companies they don\u2019t like<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=1322s\" target=\"_blank\" rel=\"noreferrer noopener\">22:02<\/a>&nbsp;\u2013 Expectations vs. reality<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=1358s\" target=\"_blank\" rel=\"noreferrer noopener\">22:38<\/a>&nbsp;\u2013 META as a value stock<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=1431s\" target=\"_blank\" rel=\"noreferrer noopener\">23:51<\/a>&nbsp;\u2013 Good and bad buybacks<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=1609s\" target=\"_blank\" rel=\"noreferrer noopener\">26:49<\/a>&nbsp;\u2013 The tech companies had too many people<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=1915s\" target=\"_blank\" rel=\"noreferrer noopener\">31:55<\/a>&nbsp;\u2013 The pivot of growth companies from growth to cash flow<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=2216s\" target=\"_blank\" rel=\"noreferrer noopener\">36:56<\/a>&nbsp;\u2013 Janus 20 and ARK<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=2359s\" target=\"_blank\" rel=\"noreferrer noopener\">39:19<\/a>&nbsp;\u2013 The dangers of buy the dip<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=2413s\" target=\"_blank\" rel=\"noreferrer noopener\">40:13<\/a>&nbsp;\u2013 ChatGPT and AI and investing<\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=SXosUPI8ATU&amp;t=3015s\" target=\"_blank\" rel=\"noreferrer noopener\">50:15<\/a>&nbsp;\u2013 Sun Tzu , Buffett and Toby\u2019s new book<\/li>\n<\/ul>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted September 29, 2023 &#8211; <a href=\"https:\/\/blog.validea.com\/much-needed-therapy-for-value-investors\/\">Much Needed Therapy for Value Investors<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> In this episode, our good friend Tobias Carlisle returns to commiserate about the struggles of value and also to talk about the future opportunity it may create. <\/p>\n","protected":false},"author":186,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[455,6,13857,8,9,22,26,3],"tags":[460,44,2014],"contributors-categories":[13819],"class_list":{"0":"post-196927","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-contributor-podcasts","7":"category-north-america","8":"category-podcasts","9":"category-region","10":"category-securities","11":"category-stocks","12":"category-text-articles","13":"category-traders-insight","14":"tag-podcast","15":"tag-stocks","16":"tag-value-investing","17":"contributors-categories-validea-capital-management"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.4) - 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