Summary: Confirmation bias is one of the biggest problems in investing. We all have a set of core beliefs, and we tend to surround ourselves with people who also believe them and focus on information that validates them. That can be dangerous, though, because it can blind you to valid arguments that contradict your own. In this episode, we challenge our belief in value investing and discuss some of the reasons why we could be wrong.
Jack's article: http://blog.validea.com/the-case-against-value-stocks/
Charlie Munger Quote / Farnam Street Blog: https://fs.blog/2013/04/the-work-required-to-have-an-opinion/
Stocks and Inflation, OSAM: https://osam.com/pdf/Commentary_Apr11.pdf
Ben Hunt's Three Body Part Problem: https://www.epsilontheory.com/three-body-problem/
Value Is Dead, Long Live Value, OSAM: https://osam.com/Commentary/value-is-dead-long-live-value
ABOUT THE PODCAST
Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long-term investors.
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