Key insights
- A recommendation for Paul Johnson's "Value of Growth Lecture Series" on YouTube as a practical resource for value investing in today's market. It highlights the actionable nature of Johnson's teachings compared to classic value investing literature, emphasizing the integration and quantification of growth within a value framework. The impact is slightly bullish due to the potential for improved investment strategies.
A friend of mine is an acquaintance of Prof. Johnson. He recommended to me his class on "Value of Growth Lecture Series." (https://www.youtube.com/@PaulJohnsonNYC).
I was blown away! Unlike the classics from Warren Buffett, Charlie Munger, Howard Marks, etc, Prof. Johnson's teaching is highly actionable in today's market. While Buffett's letters and Howard Marks' memos are unbeatable in philosophical depth, I've challenge mapping to their teaching to day to day operation (except for the behavioral advices).
Prof. Johnson clearly have decades of thinking on the value investing topic. Many of his topics are basic, but I'm impressed by his deep understanding of the core concepts and his clear (re-)definition of them. As the title of his class implied, the series demystified the naive and inferior way of thinking about growth. In Prof. Johnson's work, growth is an integral part of value; it's clearly defined and fully quantifiable.
I enjoyed the videos immensely. Hope it will help you folks too! Cheers!