By VWArticles. Originally published at ValueWalk.
Murray Stahl and John Levin are next up at the Graham Conference soeaking at a panel titled “Mr. Market and His Fluctuations: When is he wrong? When is he right?” ValueWalk is at the NYSSA Annual Ben Graham Conference today. Below are informal notes from the speakers. Check back as we will have a lot more in the coming hours.
Murray Stahl and John Levin
Benjamin Graham: I Had “Treasure in My Hands”
-humans against computers – humans can deal with uncertainty of human behavior
-most interesting idea is crypto currencies; decentralized currency; money is the biggest asset class; and the market cap of all crypto currency is only $114bil ; most investors can’t enter the asset class;; makes bitcoin for $1,200 / coin; to clarify murray stahl likes crypotcurrency a lot; he is a bit coin minr.
-since 1987 30 countries have been founded;how many wars? 80 wars; of 80 20 between wars but 60 within nations; but most don’t involve the developed nations;
-Kurdistan not recognized as nation but is a nation; world of our parents experienced war
john levin
-likes derivatives of electric cars like electric cars need lots of copper and utilities will be beneficiaries of electric cars
-like commodities as prices get lower and capx will eventually stop and create shortage
levin didn’t speak about Tesla;he like commodities; he think there could be a terrorist attack on a tanker or pipeline to get oil up
-in q1 vanguard got so much money msft got $900mm more investment
-index funds are creating massive fleeciness; stocks out of favor get money and not in favor don’t get money;
-there is duality in terms of market efficiency b/c of reg fd hard to get information
-most people don’t know what they own and why; people have more info but less good info
-GE is very interesting; great service businesses; GE is so big with lots of great businesses;
-alibaba and yahoo pair trade;
-market not focused on china, Russia, and europe become block of energy, tech, etc; all kind of transportation ; biggest crisis is risk of leaving the country; since WWII US has dominated world but in decline;
The post Murray Stahl – Most interesting idea Now is crypto currencies appeared first on ValueWalk.
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