RL133 - Insights from Where the Money Is by Adam Seessel
Today on the Retirement Lifestyle Show, Roshan Loungani and Erik Olson break down Adam Seessel's book Where the Money Is: Value Investing in the Digital Age. They discuss the book's value investing framework, how it can be implemented by the average investor, and why investing in Tech might be the way to go for value investors.
[01:46] Introduction
[04:20] Value Investing in the Digital Age
[07:20] Value Investing 3.0
[10:50] How to Analyze Business Quality
[13:25] What is Sustainable Competitive Advantage
[20:10] Competitive Advantage in Value 3.0
[24:20] How to Uncover the Management Quality of a Business
[33:00] Profitability Measurements of a Business Before Investing
[35:20] Why Price is Always the Veto Question when Investing
[39:25] What Makes Investing in Technology Unique?
[44:35] Parting Thoughts
For more links and the full show notes keep scrolling down!
Roshan Loungani can be reached at roshan.loungani@aretewealth.com or at 202-536-4468.
Erik Olson can be reached at erik.olson@aretewealth.com or 815-940-4652.
Adrian Nicholson can be reached at adrian.nicholson@aretewealth.com or at 703-915-8905.
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Full Show Notes:
Where is the Money
We all know that tech stocks hold a lot of potential and can be quite profitable if you find the right one. The even better news is that the tech industry is growing. For example, a decade ago, two out of ten of the most valuable companies in the world were technology businesses. In 2022, tech companies comprise eight of the top ten most valuable publicly traded companies. Unfortunately, tech stocks don't always fit into the value investing framework, and so value investors often miss out on lucrative technology stocks.
In the book Where The Money Is, Adam Seessel introduces a new value-investment framework that remains true to Ben Graham's value investing principle while assessing the realities of the Digital Age. Erik and Roshan explain that tech companies rarely require physical investment, so higher profitability and lower asset intensity often mean a much higher return on investment. They believe Adam's framework might work, but like all sectors, the tech follows specific rules. You still need to study these rules, understand them and invest according to your risk tolerance.
Resources Mentioned
Where the Money Is by Adam Seessel
Where the Money is Book Review
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