Mar 18, 2024
Dan and Corey kick off the
show by discussing both bubbles and "anti-bubble" stocks.
Dan
mentions how the S&P 500
Index's cyclically adjusted price-to-earnings ratio, with
data
going back to 1871, is
currently in the top 1%. He even believes this is the biggest
mega-
bubble in all of recorded
history. (0:41)
Next, Porter & Co. analyst Erez
Kalir joins the conversation and shares his
financial
philosophy. He talks about
investing legends who have influenced his investing style,
the
importance of avoiding labels,
and how successful investing is similar to using a Swiss
Army
knife. Plus, Erez explains the
yin and yang of macroeconomics versus
security-specific
fundamentals and how there are
extreme periods where one can entirely dominate the
other. (13:00)
After, Erez goes into detail
about biotech – the sector's history in the stock market, how
it's
shaped by interest rates, and
how you can find companies trading at an extreme
discount
with negative enterprise value.
He argues that not being able to time the markets is
merely
a myth, and he shares the seven
factors he uses to evaluate whether a biotech stock
is
worth buying.
(21:59)
Lastly, Erez explains why the
conditions are right for biotech stocks today. He covers
the
sector being hated and how this
gives savvy investors a chance to break away from the herd and
profit. (38:36)