Great interview with Columbia’s Bruce Greenwald on value investing

There’s a spectacular interview on ft.com today with my favorite FT journalist John Authers with Bruce Greenwald who teaches Ben Graham’s value investing course at Columbia.

Bruce talks about behavioural finance and the irrationality of investors, the often ignored mathematical realities of the market, the brutality and danger of short selling (all short sales are treated as short term capital gains), the power and value of franchise and much more!

I love his constant reminder of what value actually means: First look at the balance sheet, then current earnings ignoring growth.

He does a great fast analysis of why even value investors got caught with Fannie and Freddie because they misanalysed the balance sheet.

This was written by mark. Posted on Sunday, October 11, 2009, at 1:17 pm. Filed under Economics, Finance. Bookmark the permalink. Follow comments here with the RSS feed. Please read the disclaimer in the site footer. Post a comment or leave a trackback.

One Comment

Tom wrote:

Great interview. Just sent it to my son who is an econ major at Claremont McKenna. Thanks for posting that!

Monday, October 12, 2009 at 11:42 pm | Permalink

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