Greenwald Li Lu CBS 2006

The podcast explores the principles and practices of value investing, particularly distinguishing value investors from the majority in the stock market. It emphasizes the importance of adopting a business owner's mentality, demanding a margin of safety, and conducting thorough research. The speaker shares examples of past investments, such as Timberland and Hyundai Department Store, to illustrate the application of these principles. He stresses the need for curiosity, continuous learning, and independent thinking to identify unique insights. The discussion also covers the evolution of business dynamics, using Bloomberg's success as a case study, and highlights the significance of high switching costs in establishing a virtual monopoly.