Timestamps:
00:00 Intro
01:05 The 3 basic Ben Graham Value Investing Principles
01:15 #1 The stock is not a piece of paper. It is a fractional ownership of a company
01:31 #2 Margin of safety
02:55 #3 Mr. Market
06:10 Only a small percent of investors are true value investors
13:45 Successful value investors do not bet often. When they bet they require a very large margin of safety
14:48 A 20% discount is almost a "margin of error", not a margin of safety
15:40 Investment example: Russian company Lukoil in the early 1990's. Li Lu managed to buy the stock, at half a cent, on the dollar (200 times cheaper than liquidation value)
20:20 Since he started investing in 1994, he always managed to find mispriced opportunities
20:44 Investing with small amounts of capital
21:14 The holy grail is combining cheap prices with quality companies
21:43 How to invest less than 100k $
25:37 Q&A section: When to sell?
28:17 How much margin of safety do you require?
30:34 Patience is the key of success!
31:45 Investing in overvalued/undervalued sectors.
33:10 How do you find these huge discrepancies?
34:15 Your AHA moment.
35:15 Diversification.
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[ Ссылка ]
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The recording quality was very bad... I edited the audio (removed most background noise and the coughing, without cutting out any spoken words) and video, to the best quality possible. I hope this speech will provide value to you.
Thank you.
