Aswath Damodaran: Globalization Backlash
April 1, 2025
In his recent article, NYU professor Aswath Damodaran shares his thoughts on how politics, globalization, and disruption has changed the investing landscape.
Guy Spier: I changed my password so I wouldn’t forget this point
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By Borsgade
- - Published
Guy Spier from Aquamarine Capital talks about his experiences and challenges with the feeling Fear Of Missing Out (FOMO) in the period leading up to and during Covid-19. During this period, new tech companies with SaaS (Software As A Service) boomed and no price was really too high.
As the classic value investor Spier is, he had great difficulty buying into the stories and companies with such high multiples. Nevertheless, he wanted to understand the new business models, so he was absolutely sure that he did not overlook something that on the surface looked too expensive, but which was actually a new type of business and if you actually understand them, they are cheap. One of the examples he uses is Netflix.
I changed my password to remind myself that I had to learn these new rules of business – if you like. Thats the degree it got to me. […] The phrase [I used as new password] was “new economy”.
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