The intelligent investor
Mentions in Episodes:
- Episode: Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech | Lex Fridman Podcast #413
Podcast: Lex Fridman PodcastIn your lecture on the basics of finance and investing, you mention the book 'The Intelligent Investor' by Benjamin Graham as being formative in your life.
- Episode: Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech | Lex Fridman Podcast #413
Podcast: Lex Fridman PodcastThe key is to buy at a price that represents a big discount to that approximation. That gets back to Ben Graham.
- Episode: Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech | Lex Fridman Podcast #413
Podcast: Lex Fridman PodcastAs Mr. Graham said, in the short term, the market acts like a voting machine with a bunch of lemmings voting in one direction, which can be concerning.