How The Pros Identify Value | The One Thing | Real Vision™ скачать в хорошем качестве

How The Pros Identify Value | The One Thing | Real Vision™

What does “value” actually mean? This week, AK shows us how the best of the best find their edge in the markets. Since value is a relative concept, he provides some much-needed background as to how the market assigns value to different assets. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Watch the full video by starting your 14-day free trial here: https://rvtv.io/2BSw2Yn About The One Thing: AK brings a fresh spin to the world of finance. Often pulling from Real Vision content, each week, he dishes on what recent event or insight rises to the level of being "the one thing" that matters. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ How The Pros Identify Value | The One Thing | Real Vision™    / realvisiontelevision   Transcript: There might not be a more subjective word in the English language than value. The dictionary defines value as relative worth, utility, or importance. Well, what does that mean for markets? Well, that's what we're going to discuss on this week's episode of "Real Vision's-- The One Thing." What's going on investors? AK here. We all have our individual value systems that prioritize certain things. For some people, value represents moral value. For others, it represents when something is cheaper than it's actually worth, and the latter is the type of value that we're going to talk about today. We're going to talk about what value in the market actually means, and why some see value when the rest of the market doesn't. Mark Yusko recently came on Real Vision to discuss how value works in this new world full of algos and central bank intervention. Yeah, how do you compete with satellite imagery that's processed in real time? How do you compete with high-frequency traders that are scalping pennies on milliseconds? How do you compete with people who get the first call from the Treasury Secretary, and you don't? I don't know. I'll answer that question for you. OK. Value. Value. Ah, that's how you compete with them. And you are 100% right, and that is exactly why-- that's what I always migrate to. Yeah. At the end of the day, that's exactly where you might edge because it's the only place you can get an edge. If you do the work, and you buy assets that are below fundamental intrinsic value, you will eventually win. John Burbank takes a unconventional approach to value where he actually shuns normal value stocks and instead, invests in tech stocks. And guess what? Moving from underperforming value stocks to the tech sector worked out pretty well for him. Check out what he had to say about it in this recent "Real Vision" interview. Maybe the surprise is how valuable, how much more valuable the best, the A students in the class is what I said. But really, you should just belong to A students in the class, and short the rest of class. It doesn't matter. Where as commodities, you know, you're looking for that something needed that has a very low cost and is cheap to transfer but doesn't actually require tremendous ongoing sophistication. Mike Green, who's also an expert in the market, added some wise words later on in the conversation with Burbank. Yeah, no, I think that's absolutely correct. And I think what we've paradoxically seen is just that value has actually now had its longest run of underperformance. It had a very brief window, basically, from 2000 through 2006 in which it made up a lot of lost ground. But if you actually look at that approach to investing, it's been an unmitigated disaster for the past 30 years. And it always sounds far more rational. All right, I mean, who wouldn't be pro-value, right? I mean, who wants to be the momentum guy. That's what makes you sound like a moron. The bottom line is that value is subjective. So when someone is telling you that something is a really great value, well, you got to go back and do your own research. Sometimes, it's true that something is a value because the market hasn't fully appreciated what it's worth. But other times, something is cheap because it's not a good look, and it's only going to go lower.