Evidence receipt / belief
Published · transcript-backedDavid Rosenthal: belief
21 Apr 2021 Acquired Berkshire Hathaway Part I
“Now, I think you could also argue about the cigar butt investing and Ben Graham, that before him and them, there was just rampant speculation that was happening, and that’s ultimately value destructive for everybody too.”
Source trail
Everything needed to verify it.
- Speaker
- David Rosenthal
- Attribution
- Verified speaker
- Claim type
- belief
- Recorded
- 21 Apr 2021
- Publisher
- Acquired
- Episode
- Berkshire Hathaway Part I
Transcript context
…There was a going concern providing value to customers that is no longer going. Not employing people. There is definitely some value destruction here. Now, I think you could also argue about the cigar butt investing and Ben Graham, that before him and them, there was just rampant speculation that was happening, and that’s ultimately value destructive for everybody too. He did lay the groundwork for fundamental investing, value-based investing in the pure sense of the word. Value not as anti-growth but as true investing in value as opposed to speculating. That’s all great for the world. If you think about all the pensions that invested from the Graham era through today that generated money for the people whose pensions they support, that’s awesome to the extent that they had access to public equities that were no longer just treated as lotteries.…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.