The John Johnston Lounge

I summarize and discuss the latest Jeremy Grantham interview, with The Compound and Friends, in which the billionaire investor and financial bubble historian again discussed the super-bubble he currently sees in the US stock market in 2023, and in global real estate markets. See timestamps below for sections:00:00 Jeremy Grantham bubble historian or eager permabear?01:41 Calling the exact bottom in 200902:25 Are we in a major stock market bubble?03:40 The global real estate bubble05:28 Grantham's investing strategy during the bubble06:13 Shorting the Russell 2000 08:26 Long non-US equities08:55 Is it different this time?10:06 The biggest bubble in history11:03 Could it be different because of the US tech megacaps?13:09 The next 7 yearsRelated episodes:Jeremy Grantham: Super Bubble Bursting, Recession Imminenthttps://youtu.be/ELQVtf5ZIeMJeremy Grantham: AI Boom Pauses Super-Bubble Bust!https://youtu.be/ATP0GGON2B0Referenced interview:The Bubble Hasn't Burst Yet I TCAF 110 @TheCompoundhttps://youtu.be/aanwMfrSjP0I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalueUsing a referral link helps support the pod, thanks!The main investment brokerage I use to buy international stocks, and to hold cash at good interest rates, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. Hosted on Acast. See acast.com/privacy for more information.

Constellation software is a high-quality serial acquirer company with an incredible capital allocator Mark Leonard leading it. Constellation Software stock has produced excellent stock market returns for many years. This episode is a primer on Constellation Software, its legendary founder and President Mark Leonard, and its recent European spin-off Topicus. See timestamps below for specific sections:00:00 Mark Leonard, Constellation Software and spin-off Topicus00:33 Who is Mark Leonard?00:51 Constellation Software stock returns over time (TSE: CSU)02:02 The founding of Constellation Software02:48 Influence of Mark Leonard's investing mentor Steve Scotchmer04:39 The focus on Vertical Market Software businesses05:48 Business attributes Leonard looks for when acquiring07:13 Constellation Software, a super serial acquirer08:32 Consistently high returns on capital09:00 Superior capital allocation within a serial acquirer model11:35 Holding company structure - many small parts, strong whole12:22 The Topicus spinoff - Vertical Market Software in Europe14:33 Topicus stock performance so far (CVE: $TOI)Related episodes:Mohnish Pabrai Talks Constellation Software & Mark Leonardhttps://youtu.be/xPI773-AE-IA Next Gen Warren Buffett? Tiny's Andrew Wilkinsonhttps://youtu.be/-fs9P_phqfQI use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalueUsing a referral link helps support the pod, thanks!The main investment brokerage I use to buy international stocks, and to hold cash at good interest rates, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. Hosted on Acast. See acast.com/privacy for more information.

In two of the latest Mohnish Pabrai interviews, the well known value investor and fund manager discussed why he thinks Tencent is a superior company to Alibaba, indicating that he thinks Tencent stock should perform better than Alibaba stock over the long term. Pabrai sold BABA stock and switched it for a stake in Tencent, via a company called Prosus. Pabrai provides a brief and partial Tencent stock analysis, comparing it with Alibaba.Timestamps00:00 Mohnish Pabrai on Alibaba vs Tencent00:33 Switching from BABA stock to Tencent, via Prosus01:27 Tencent's Pony Ma, an extraordinary entrepreneur02:32 Why BABA and Tencent investments haven't worked so far03:56 BABA and the too hard pile05:02 Tencent getting an easier ride: Pony Ma vs Jack Ma06:23 Benefits of investing in smaller companies globally insteadRelated episodes:Guru Portfolios Q2 2023: Pabrai, Akre, Klarman, Gaynerhttps://youtu.be/oxAXpnu3oXYAlibaba Earnings  - Return to Growth! | BABA Stockhttps://youtu.be/cxh_-fCWjxUAlibaba Stock: CEO Quits! George Soros Buys BABA Stockhttps://youtu.be/FbUoblWv50sChris Mayer 100 Baggers: Stocks That Return 100 to 1!https://youtu.be/59CuGd2aAwgInvesting Books mentioned:100 Baggers: Stocks That Return 100-to-1 and How To Find Them,by Chris Mayer (referral link) https://amzn.to/44ZJk0fInvesting for Growth: How to make money by only buying the best companies in the world, by Terry Smith (referral link) https://amzn.to/3EFZXmVUsing a referral link helps support the pod, thanks!The main investment brokerage I use to buy international stocks, and to hold cash at good interest rates, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalueDisclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. Hosted on Acast. See acast.com/privacy for more information.

This Alibaba stock (BABA stock) update analyzes why Alibaba CEO Daniel Zhang has quit, just as he was about to transition to lead Alibaba Cloud ahead of its planned spinoff. Next we look at the news that the planned Freshippo IPO is being delayed, and the reason why. Finally, we examine the news that legendary investor George Soros has bought some BABA stock, and we look at which other super-investors currently own BABA stock.Timestamps00:00 Three Alibaba news highlights00:19 Alibaba CEO Daniel Zhang steps down03:28 Zhang Leaving Alibaba but not really06:03 Why is Freshippo IPO is being delayed07:21 How the BABA stock price has reacted08:22 Investor George Soros buys Alibaba stock11:34 Other super-investors who own BABA stockRelated episodes:Alibaba Earnings  - Return to Growth! | BABA Stock https://youtu.be/cxh_-fCWjxUAlibaba Reveals Break-Up Plan | Big BABA Stock Upside https://youtu.be/spwgEGJlxmcAlibaba Update: Cloud Spinoff & More Coming https://youtu.be/KBQBNM_-icI?si=8i7oVVANrZUH3yuIThe main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664Using a referral link helps support the show, thanks!I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalueDisclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. Hosted on Acast. See acast.com/privacy for more information.

I summarize and discuss the latest Jeremy Grantham interview, with Bloomberg Wealth's David Rubenstein, in which the billionaire veteran investor Grantham discussed the super bubble he currently sees deflating the US stock market. Grantham believes the deflating of the super bubble is now being prolonged by a new artificial intelligence (AI) mini bubble, but that the US stock market crash will continue, leading into a US economic recession lasting deep into 2024.Timestamps:00:00 Jeremy Grantham interview intro00:39 Grantham the financial doomsday oracle - predicting market bubbles01:42 Deflating of the super bubble leading to recession02:42 Learning to identify and resist a stock market bubble04:11 2021 tech bubble: one of the great stock market bubbles04:42 Will there be a US recession in 2023 or 2024?05:51 AI bubble pausing the super-bubble bust 06:19 Will Jeremy Grantham be right or wrong?Related episodesJeremy Grantham: AI Boom Pauses Super-Bubble Bust  https://youtu.be/ATP0GGON2B0Investor Jeremy Grantham: Super Bubble Enters Final Phase https://youtu.be/tTFO3Qn5e20Investor Seth Klarman on the Everything Bubblehttps://youtu.be/C4rs2M_lOKwStan Druckenmiller Still Predicts Hard Landing Recessionhttps://youtu.be/8Ue-etn4E74The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664Using a referral link helps support the show, thanks!I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalueDisclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. Hosted on Acast. See acast.com/privacy for more information.

In TSLA stock news today, this update includes a look at recent Tesla stock price movements, a brief look at the new Tesla Model 3 update, and the significant price cuts to the Tesla Model S and Tesla Model X, as well as the surprise price cut to Tesla FSD!Timestamps00:00 Tesla news intro00:25 Tesla stock price update02:49 New Tesla Model 3 update05:08 Tesla car price cuts05:50 Tesla FSD price cut07:38 Are Tesla price cuts good for investors?08:52 Chamath Palihapitiya's take on Tesla price cuts10:57 Short seller Jim Chanos' take on Tesla price cuts12:01 Final thoughtsRelated episodes:The Art of Value: Tesla Stock playlisthttps://youtube.com/playlist?list=PLrNjj1l3MS7UkaBPMBFJF26HHxpUgH9zQ&si=3vm88_m1NpQXt-ynThe main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664Using a referral link helps support the show, thanks!I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalueDisclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. Hosted on Acast. See acast.com/privacy for more information.

This Alibaba stock update includes a closer look at BABA stock in relation to the current Chinese economy and China stock market, including new Chinese government measures to support the stock market. I also compare the performance of BABA stock to younger megacap competitor PDD stock (PDD Holdings), which operates Pinduoduo and Temu.Timestamps00:00 Alibaba stock update intro00:20 China's measures to support the stock market01:35 Is China uninvestable?02:27 China's real estate market crisis03:44 Positive Alibaba news - Alibaba Cloud AI development06:56 Alibaba stock (BABA) performance08:40 BABA stock vs PDD stock performanceRelated episodes:Alibaba Earnings  - Return to Growth! | BABA Stockhttps://youtu.be/cxh_-fCWjxUAlibaba Reveals Break-Up Plan | Big BABA Stock Upside https://youtu.be/spwgEGJlxmc?si=qaWComlNbSC2ZiIEAlibaba Update: Cloud Spinoff & More Coming https://youtu.be/KBQBNM_-icI?si=8i7oVVANrZUH3yuIChina Stocks UNINVESTABLE or HISTORIC VALUE OPPORTUNITY https://youtu.be/qfrjfIEx1vwThe main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664Using a referral link helps support the show, thanks!I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalueDisclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. Hosted on Acast. See acast.com/privacy for more information.

This episode includes a summary and thoughts on the Alibaba June Quarter 2023 Results, in the context of the current China economic backdrop and the huge drop BABA stock has had since its peak in late 2020.Timestamps00:00 Alibaba earnings in the China economic context01:55 High level financial results - growth and efficiency03:58 Cash flow and cash allocation07:14 Individual business segments intro07:30 Taobao and Tmall Group08:51 Alibaba International Digital Commerce Group09:32 Local Services Group09:58 Cainiao Smart Logistics Network10:38 Cloud Intelligence Group11:44 Digital Media and Entertainment12:25 All Others segment12:45 Final thoughts on the Alibaba ResultsRelated episodes:Alibaba Reveals Break-Up Plan | Big BABA Stock Upside? https://youtu.be/spwgEGJlxmc?si=JSvlBYfVY8eyWvL0Alibaba Update: Cloud Spinoff & More Coming https://youtu.be/KBQBNM_-icI?si=8i7oVVANrZUH3yuIAlibaba Full Year Earnings Update | BABA Stock https://youtu.be/caAUsjmMGRw?si=sm-y8SCrGg4B6K9uThe main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664Using a referral link helps support the show, thanks!I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalueDisclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. Hosted on Acast. See acast.com/privacy for more information.

Legendary "Big Short" Investor Michael Burry just revealed a new big short! I look at how Burry's shorting the US stock market, and I also take a look at his new long stock portfolio updates.Timestamps:00:00 Michael Burry Intro00:24 Michael Burry's 2 new big short positions03:34 Burry's pessimistic outlook04:40 Past and future SPY and QQQ06:41 Burry's Q2 long stock investments08:27 Burry's Q2 sold stocks10:12 Deep value + macro investing11:25 Net-flat market for next decade?12:53 Final thoughtsRelated episodes:Guru Portfolios Q2 2023: Pabrai, Akre, Klarman, Gaynerhttps://youtu.be/oxAXpnu3oXYGuru Portfolios Q2 2023: Li Lu & David Tepperhttps://youtu.be/shsDsTjUQN8The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664Using a referral link helps support the show, thanks!I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalueDisclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. Hosted on Acast. See acast.com/privacy for more information.

Here's a detailed look at the stock portfolio updates of two guru or superinvestors from Q2 2023: Li Lu of Himalaya Capital Management and David Tepper of Appaloosa Management. See timestamps below for investor sections.Timestamps:00:00 Li Lu and David Tepper Intro00:15 Li Lu portfolio overview01:10 Micron Technology (MU)02:29 East West Bancorp (EWBC)02:53 Postal Saving Bank of China (SHA: 601658)03:33 David Tepper portfolio overview03:46 Nvidia (NVDA)04:44 Tepper stock buys and sells08:13 Alibaba (BABA)10:20 Uber (UBER)11:20 Pinduoduo (PDD)11:48 Previous update: Pabrai, Akre, Klarman, GaynerRelated episodes:Guru Portfolios Q2 2023: Pabrai, Akre, Klarman, Gaynerhttps://youtu.be/oxAXpnu3oXYEverything Mohnish Pabrai Said About Investor Li Luhttps://youtu.be/rqz0_soraHIWhy Druckenmiller Owns Nvidia Despite "Nosebleed Territory”https://youtu.be/QP496jwcumkCrucial Reason Mohnish Pabrai is Buying Micron: OLIGOPOLY! | MU Stockhttps://youtu.be/moqHjmcItFgI use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalueUsing a referral link helps support the show, thanks!The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision. Hosted on Acast. See acast.com/privacy for more information.