Karon Grilli and the Sifter Fund are collaborating on a four-part series focusing on quality investing.
Part 1:
Apparently, the remaining episodes will be released in January.
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Here is the latest episode of @m_jylhaâs Pörssipodi. 
Finlandâs GDP per capita has not grown since the financial crisis. Last year, expectations were lowered along the way, and we eventually ended up with zero growth. Why would this year be any better? Is the Finnish economy still being weighed down by an âunknown brakeâ? What causes it? Discussing this are chief economists Jukka Appelqvist from the Finland Chamber of Commerce and Lasse Corin from Aktia. Hosted by Mikko JylhĂ€.
https://podcastaddict.com/porssipodi/episode/214504337
Topics:
00:52 Trump, Venezuela, tariffs
13:49 US immigration policy
17:19 Finlandâs growth outlook
27:11 Employment and unemployment
33:48 âUnknown brakeâ
42:07 Indebtedness
53:12 How to get out of zero growth?
1:03:24 AI and productivity
1:09:39 In the stock market
1:17:55 How much will GDP grow?
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The second part of the Quality Investing School has been released.
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2025 was a year of brisk growth on the Helsinki Stock Exchange. What will happen to share prices in 2026? Will the AI-driven rally continue across the Atlantic, or is it time to start hunting for growth leaders in other sectors?
Taloustaito LIVEâs guest is Inderes analyst Sauli VilĂ©n, with whom we delve into the key themes of the starting investment year.
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Here you go, dear friends, the latest Pörssipodi episode by @m_jylha.
The United Statesâ new national security strategy signals a broad shift in the countryâs foreign policy. At the start of the year, we saw what this means in practice. The United States struck Venezuela and is demanding Greenland for itself. What does the investorâs map look like now? Discussing the topic are Chief Economist Minna Kuusisto from Danske Bank and CEO Charly Salonius-Pasternak from Nordic West Office. Hosted by Mikko JylhĂ€.
Topics:
00:46 Analysis of the start of the year
04:20 Oil as a key motive
14:52 The strike on Venezuela and China
17:07 The Greenland question
26:39 Trust toward the US
32:00 China and Taiwan
35:39 Fedâs Powell facing charges
40:18 What after Trump?
44:23 Europeâs position
56:39 Stock markets
1:05:42 Unrest in Iran
1:12:07 Conclusion
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Rational Reminder at it again:
The term âETF slopâ is very apt.
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In the video, Professor Aswath Damodaran, known as the âDean of Valuation,â discusses his investment philosophy, the corporate life cycle, artificial intelligence, and the current market situation.
Summary
1. Investment Philosophy and Portfolio Construction
Damodaran emphasizes that investing is about paying the right price, not just buying good companies [00:00]. His portfolio typically consists of 30â45 stocks, which provides sufficient diversification to manage risks [03:38].
- Stories behind the numbers: Damodaran does not use Excel spreadsheets alone; he looks for investment targets with a strong âstoryâ that the market has not yet priced correctly [06:14].
- Targets to avoid: He avoids companies whose value depends more on politics than business, such as state-subsidized green energy [07:51].
2. Selling Discipline and Valuation Methods
Damodaran criticizes the âbuy and forgetâ mentality. If you are a value investor and buy something undervalued, you must also be prepared to sell when the company is overvalued [11:44].
- Monte Carlo simulations: He uses simulations to determine the probability distribution of value. This helps set a margin of safety for both the buy and sell price [12:37].
- Discipline: Letting go of winners is difficult, but the process should be automated to avoid emotions [14:02].
3. Corporate Life Cycle
Companies, like people, age. According to Damodaran, management should âact their ageâ [18:01].
- Mature companies: He praises Apple and Tim Cook for not making massive, expensive acquisitions but instead focusing on generating cash flow [20:33].
- The illusion of growth: When a mature company desperately tries to seek growth through large investments, it often destroys value [21:44].
4. Artificial Intelligence (AI) and the Market Bubble
Damodaran believes that AI is creating a bubble because it represents a significant shift in society [23:53].
- Cost vs. Profit: He predicts that AI may collectively lower corporate margins. AI will become a necessary cost for many that does not provide a competitive advantage if everyone has access to it [35:14].
- Winners: Infrastructure builders (such as Nvidia) benefit initially, but history has shown that infrastructure builders often make less money than those who later exploit the finished network [37:30].
5. Current Market Situation and Cash
Damodaran is currently cautious and has increased his cash reserves [53:04].
- Valuation levels: He currently finds few undervalued targets and is concerned about the marketâs current pricing.
- Diversification: He looks for asset classes that do not correlate with the stock market, but admits this is difficult nowadays when everything moves in the same direction [54:03].
- Gold and cryptos: He considers gold and cryptocurrencies as collectibles, but warns that Bitcoin often behaves like a very risky stock and thus does not provide protection in a crash [54:54].
6. AI Scams
Finally, Damodaran mentions AI-based scams (deepfakes) made about him. His name has been used to lure people into investment funds, which is completely against his principle of providing information for free [46:12].
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Sir Chris Hohn - hardcore value investor (even though classified as a Hedge Fund)
âHohn has argued that investors overvalue revenue growth in companies while underestimating the forces of competition that can whittle down profits. He bets on companies that he believes have powerful competitive advantages that rivals will find difficult to overcome. For instance, aerospace companies can sit on valuable intellectual property and infrastructure that shield them from competitionâ
1 Like
Here is the latest episode of Pörssipodi by @m_jylha.
The Helsinki Stock Exchange saw a brisk rise in share prices last year, but no earnings growth. This year, earnings in Helsinki are expected to grow by even more than 20 percent. In addition to earnings growth and its broadening, key market themes include the development of the AI theme, Europe, and Trump. In January, Trump threatened new import tariffs due to a dispute related to Greenland but withdrew his plans within a few days. Discussing these topics are Chief Strategists Antti Saari from Nordea Wealth Management and Lippo Suominen from OP Pohjola. Hosted by Mikko JylhÀ.
00:43 Market themes
08:58 Earnings growth expectations
20:38 Small caps
24:39 EU defense investments
28:10 Valuation levels
30:58 Rise of the KOSPI index
33:57 Investment views
41:53 Blind spot?
46:57 Closing remarks
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@Alex_af_Heurlin1 discussed gold, bitcoin, and US Treasuries, among other things, with Evliâs Chief Strategist Valtteri Ahti.
The defense alliance NATO, the central bank Fed, government bonds, and many other pillars of the world order have been shaken during the early part of the year.
Are there any safe investments left in the world? Evliâs Chief Strategist Valtteri Ahti shares his thoughts on topics such as gold, bitcoin, and US Treasuries.
In the studio, Valtteri Ahti and journalist Alex af Heurlin. The episode was edited by Helmi Sundström.
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Here is an interesting new video podcast I found. The latest episode was released today, featuring Ivan Puopolo as a guest. Other guests have included Jaajo, Noora Hautakangas, etc. There are also business-focused episodes, such as the CEO of Microsoft Finland, and you can find episodes on Salesforce as well.
Highly recommended!
1 Like