Episode 10: Jason Zweig

Value Investing Today and Ben Graham

Acclaimed business journalist and writer of the Wall Street Journal’s ‘Intelligent Investor’ column Jason Zweig speaks with MarketFox columnist Daniel Grioli about value investing in today’s world and tries his hand at answering the question: How would Benjamin Graham invest today?

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Short overview of content of podcast:

2:00 How did you get started in industry?
5:20 It is only when you talk to people about money when you really learn what they are about.
8:00 Zweig 2015 book, The Devil’s Financial Dictionary’. It defines the entry ‘day trader’, as ‘idiot’. He also lists ‘data’ as ‘the raw material that Wall Street uses to build its fabrications on’.
13:30 Having more information is probably a social good, but makes the job of a long-term investor more challenging.
19:40 Facebook. Any successful organisation is somewhat indistinguishable from a religious cult.
28:30 ‘Your Money and Your Brain’, How did you come to write that?
35:00 The Intelligent Investor. Jason says his involvement was due to luck.
40:00 How would Benjamin Graham invest today?
46:00 Regression of the mean is still there, but we don’t see much sign of it.
50:55 Smart Beta might just work, at least as long as investors are too dumb to notice that it is working.
55:00 Robo advice. Will it help overcame human biases?

About the [i3] Podcast

The [i3] Podcast is a conversation with some of the leading institutional investors around the world, discussing their philosophy towards investing, in particular towards portfolio construction and investment strategy. The [i3] podcast is available on iTunes, Google Podcast, Spotify, Stitcher or your favourite podcast platform.