Intrinsic (adj): belonging to the essential nature or constitution of a thing <the intrinsic worth of a gem> (Merriam Webster)
The site is dedicated to the art / science of Value Investing and to the science / art of Finance. The site is made of two bulding blocks: the Blog and the Investor’s Tools section. The Blog talks about interesting articles, papers, presentations and videos that we dig out of the web. Investor’s Tools is more of an educational section, containing some of the classic material on Value Investing, Finance, Economics and other topics.
We have translated only our main page (other sections are still in Portuguese) but you can view most of our video collection on our Youtube page in English. Just click on the link bellow.
10 part video. Don't miss it !
Short video with two investing legends
Seth Klarman interview by Charlie Rose
What’s New in the Investor’s Tools Section
Value in the U.S.
Market | Interview with Bruce Greenwald, Professor at Columbia Business School
Great interview conducted in October 2013 by Motley Fool with Bruce Greenwald, Columbia professor dubbed the guru of gurus by the NYT. Responding to well formulated questions, Greenwald gives his view on several of value investing key points.
Costco Craze: Inside the Warehouse Giant - CNBC
Excellent CNBC documentary about Costco. With its low prices, frugality, high growth and high return on capital, Costco is no doubt one of the great stars of American retail.
Michael Price speaking at the London Value Investor Conference 2013
Great lecture by Michael Price, where he discusses investment theses, his approach to portfolio construction and talks about some of his alumni (including Seth Klarman).
View From The Top: General (Ret.) Stanley McChrystal
Beautiful lecture by General Stanley McChrystal at Stanford on how he turned the plight of post-war Iraq. McChrystal talks about what he believes makes Navy Seals a special organization, comments on the operation that eliminated bin Laden, discusses the dangers of the quest for efficiency and much more.
History Channel’s fantastic series about the great entrepreneurs of the Gilded Age (Vanderbilt, Rockefeller, Carnegie, JP Morgan, Ford etc.).
The Midas Formula - Stock Market Documentary
Documentary about the derivation of the Black & Scholes formula for option pricing and the incursion of Myron Scholes and Bob Merton in financial markets with the creation and subsequent collapse of the Long Term Capital Management - LTCM, the most famous hedge fund of the time. Interviews with Scholes, Merton Miller, Roger Lowenstein etc..
Bruce Greenwald Value Investing Lectures
Some of Bruce Greenwald’s lectures at Columbia University, the birthplace of value investing.
Benjamin Franklin 1706 - 1776 e Benjamin Franklin 1776 - 1790
Both parts of the fantastic PBS biography of Benjamin Franklin, who was among other things, a very successful businessman, science genius and one of the most important politicians in the U.S. Nearly three hours, this is the most comprehensive video biography of Franklin I am aware of.
Donald Trump All American Billionaire
BBC documentary about Donald Trump, perhaps the most important developer in Manhattan history. Although it doesn’t explore the details of his great successes and the difficulties in the '90s, the video gives a general idea of his trajectory.
HBS: Michael Porter on Competitive Strategy
HBS series (2 videos) with Michael Porter explaining the key concepts that form the basis of his two classics: Competitive Strategy and Competitive Advantage. Very good!
Goldman Sachs Power and Peril CNBC Documentary
CNBC documentary about Goldman Sachs and the 2008 crisis.
CNBC documentary about Jack Welch, one of the greatest CEOs of all time. Welch transformed GE with his vision (dominant position in all markets) and relentless execution.
Black Wednesday - Crash of Pound Sterling
BBC documentary on the devaluation of the pound in 1992. The event made George Soros world famous for his $ 1 billion payoff. Black Wednesday is one of the cornerstones in modern financial markets history. Fantastic!
Mavericks Lecture 2012: John Malone
Great interview with billionaire , cable tv and media entrepreneur John Malone, who recently became the largest individual land owner in the U.S. In this almost two hour Q&A, MBA students at the University of Denver received a primer on mergers and acquisitions, synergies, leverage, taxes, etc. Malone used examples of companies he was involved with on all topics, making things even more interesting.
Jack Schwager presents: 15 Hedge Fund Market Wizards trading secrets & insights in their own words
Nice interview with Jack Schwager, author of the Market Wizards series. In the interview, Schwager talks about risk versus volatility , Ed Thorp and his fantastic track-record, Ray Dalio, Joel Greenblatt etc.
Jeffrey Ubben: The Evolution of the Active Value Investment Style
A good video by Opalesque TV about Jeffrey Ubben, founder of ValueAct an active managing hedge fund with more than $ 12 billion in assets under management. Uben discusses in detail their investment process and the different configurations of governance that he typically bumps into. Interestingly enough, Ubben began his career at Fidelity under Peter Lynch’s tutelage.
Lectures: 2013 Prize in Economic Sciences
Lecture by the three Nobel laureates of 2013: Eugene Fama, Lars Hansen and Robert Shiller.
Guy Kawasaki: The Top 10 Mistakes of Entrepreneurs
Lecture at Berkeley by former Apple Software Evangelist Guy Kawasaki and Angel Investor on the mistakes that entrepreneurs make. Very good!
Great introduction to Macroeconomics by the University of Utah. The twenty videos are just over 10 minutes long each. They cover the main equations of the IS / LM, AS / AD, Phillips curve and growth model.
Interview with Cliff Asness, founder of AQR quantitative management (manages about $ 90 billion) and is considered by Eugene Fama to be one of the brightest students he ever had.
Masters of Finance: Eugene Fama
Interview with Eugene Fama, recent winner of the Nobel Prize in Economics and perhaps the most quoted person in the literature of finance. Interviewed by Richard Roll, Fama comments on the state of finance in the 60s and how he contributed to its evolution.
Lectures about Valuation with NYU professor Aswath Damodaran
How The Economic Machine Works by Ray Dalio
Bridgewater, one of the largest hedge funds in the world, posted this simple and fun video. In this 30 minute video, Ray Dalio explains how the economy works.
Beautiful white paper by Mauboussin, that was later turned into a book. He tries to answer one of the most interesting questions in investing: how to separate luck and talent in activities where the two are interwined? In search of an answer, Mauboussin uses a bit of sabermetrics – sports fans will love this one!
The Billionaire Next Door Goes Global
Story of Warren Buffett’s trip to Asia. Becky Quick, CNBC reporter, accompanied him along the way.
An Investing Principles Checklist
Great checklist in Munger's “Poor Charlie's Almanack”.
Breaking Vegas: "Professor Blackjack"
Channel Bio's rare documentary about Edward Thorp, a MIT professor who developed the method for counting cards in BlackJack. Thorp would later write the today famous Beating The Dealer , and also set the stage for the modern era of the quants in Wall Street, achieving great financial success.
A Conversation with Howard Marks and Michael Milken
A conversation between two of the greatest distressed debt investors in history. Excellent!
Documentary about the creation of The Silicon Valley, Apple, Microsoft, Xerox Park etc.. The parts with Gates and Jobs are sensational!
Ben Bernanke's Ten Suggestions for Princeton Grads
Humorous speech of Ben Bernanke for Princeton undergraduates in June 2013.
2009 documentary about the rise of electronic trading and the effect it had on traders operating in speakerphone in Chicago.
Introduction to Finance course by MIT Professor Andrew Lo . All classes available on video. Great for beginners and those wanting to review the basics.
Buffett and Gates Go Back to School
Warren Buffett and Bill Gates talk with the students of the University of Nebraska in a fun and relaxed way (uploaded in 2011). Very good !
William Ackman: Everything You Need to Know About Finance and Investing in Under an Hour
Bill Ackman on investments, addressing topics like income statement, balance sheet, return on equity, price / earnings, the power of compound interest and the main concepts of the value investing style currently practiced by Warren Buffett. Great video, even for professionals, with its simple examples, good explanations and choice of topics.
Carlos Brito of AB-InBev: Three Things Make for a Good Leader
Another good presentation by Carlos Brito, this time on leadership.