Panel Discussion With Top Economists (Value Investing Congress 2008)

In the spirit of the upcoming Value Investing Congress which I plan on attending and reporting from, I found some interesting videos from the previous Congress in 2008 which I wanted to share. I discovered a total of 11 videos on the internet. Most of them are quite interesting, and informative.

I wrote about a brief summary of each video which I will be posting over the next few days, and embedded the video below.

It is important for context to understand that the conference took place in late 2008 at the height of the financial crisis.

Einhorn’s FOF Re-positions Portfolio, Makes New Seed Investment In Year Marked By “Speculative Exuberance”

david einhorn, reading, valuewalk, internet, investment research, Greenlight Capital, hedge funds, Greenlight Masters, famous hedge fund owners, big value investors, websites, books, reading financials, investment analysis, shortselling, investment conferences, shorting, short biasIt has not just been rough year for David Einhorn's own fund. Einhorn's Greenlight Masters fund of hedge funds was down 3% net for the first half of 2020, matching the S&P 500's return for those six months. In his August letter to investors, which was reviewed by ValueWalk, the Greenlight Masters team noted that Read More

This video discusses whether the implosion of the shadow banking system will give classic investing a second wind. Here, Bob Bruner, the Dean of the Darden School, goes on to summarize the book The Panic of 1907 and compares it to the current state of the market today in the year 2010. Bruner believes that leadership will play a huge role in reviving the investment market and the economy. Because finance and investment are highly relevant to leadership, it is important to for people to recognize problems and opportunities and shape the outcomes by identifying these problems with a conscious vision.

Later Bruner goes on to recognize an important individual for bringing these value investing conferences to his attention, and after bubbling with ideas and creating a vision of what the conference would become, Bruner agreed to bring his colleagues in and paint this vision to all of those who took the time to visit. The closing remarks go on to speak about how the presentations were designed, how individuals were invited, and ultimately how the scheduling conflicts were resolved by Dan Anglin.

Don Wilkinson is then greeted to the stage as the speaker of the night to explain about how ideas have consequences. Wilkinson then goes on to break down what he believes the root cause is of the largest loss of the largest amount of capital in the nation since pre-world war II in the 1920’s. One of the primary problems that happened is that investors and lenders lost their logical mind and did not analyze risk. Shadowing banking has caused independent banking institutions to crumble, and pushed the global economy into the worst recession in 50 years. Because the world is completely one when it comes to the economy and how each country is affected, Wilkinson explains that ideas are developed by individuals and then passed on to commercial arenas. The cause of the manic state of the economy is because of ignoring value investing and focusing on making money rather than controlling risk.