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 months

Recordings per month over the last 12 months — 6 in all, peaking in Nov 2025 with 2.

Appearances

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Prof G Markets · Aswath Damodaran Says There’s No Place to Hide in Stocks · 14 Nov 2025 podcast

I'm not selling all the stocks in my portfolio.

I'm not running for the hills.

I'm not buying, putting all my money in gold or bitcoin.

Because I think that's the kind of action where even if you're right, you end up losing in the long term because once you get out of stocks entirely, it becomes very difficult to get back in.

You stay out of markets too long.

I know people who sold in two thousand and eight.

They got the timing right.

But they stayed out for the next decade.

And in hindsight, I'm saying, I wish I hadn't done that.

I'm not selling everything, but I'm mopping and lopping portfolio positions in a and and it's nice to be in a position where you're taking a stock that's up 20, 20, 200% or 2000% in your portfolio.

You're selling 25% of it.

I'm not even selling all of, you know, even my even my NVIDIA has staggered out over four different, and I still hold on to a quarter of the NVIDIA that I tended to hold.

So I'm not suggesting drastic selling everything, but I'm suggesting taking your profits, don't get greedy, and taking those profits and rather than putting in the next hot stop, holding it in cash.

Oh look, so my portfolio allocation has adjusted only gradually over the last ten years.

And Michael Burry would look at my portfolio and say you're over investment stocks, and he's probably right.

I will probably feel more pain in a correction than somebody who steps out of stocks entirely now.

But I also feel more comfortable in the long term doing this gradually and kind of doing this adjustment because I'm never completely, I will never completely be out of stocks and bonds.

It's not my nature.

It doesn't work with my risk aversion.

But I'm I have less of my portfolio invested in long-term bonds and stocks.

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