Aswath Damodaran
speaker
1,201 appearances
7 recordings
3 series
first heard May 2025
last heard 7 Aug
Aswath Damodaran’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 6 in all, peaking in Nov 2025 with 2.
Appearances
Climb the income statement, look at the operating margins, look at the interest expense, and because in a sense you worry about things like financial expenses and other income, but separate the two.
The operating income is going to tell you what the operating business of these companies are doing.
The rest of the stuff is telling you what the other investments are.
No, I'm surprised to see the mark marking up.
I mean, uh because on the Amazon income statement, it says gain from sale of asset as opposed to the marking up component.
The reason I'm surprised is trick when you hold an investment for trading, you have to show the marking up or mark it down.
Soft bank is a classic example.
When you hold an investment as a strategic
strategic investment.
It's an investment that's going to be part of your business in the long term.
You generally don't do that.
You're right.
You hold at original value and any income you show will be the actual income or loss from that holding.
That's what happened with Microsoft.
So I am confused about what the accounting is.
And if the accounting is they're holding it these companies as trading investments, that's a very revealing statement.
Because you told me this investment in open AI was because you wanted to build the AI business in the long term, not because you wanted to make money like a venture capitalist by buying open AI at a low price and selling at a high price.
So again, it goes back to this once you create cross-holdings, you create these follow-up questions.
What's the motive?
Why are you doing it?
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