Aswath Damodaran introduces the concept of an investment philosophy, differentiating it from a strategy. He emphasizes that a philosophy is a coherent framework for thinking about markets and human behavior, which allows for the development of multiple strategies. Without a philosophy, investors are susceptible to scams, constantly switching strategies, and experiencing stress.
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Session 1 (of 42): Introduction to Investment Philosophies
Mar 24, 2026
Aswath Damodaran introduces the concept of an investment philosophy, differentiating it from a strategy. He emphasizes that a philosophy is a coherent framework for thinking about markets and human behavior, which allows for the development of multiple strategies. Without a philosophy, investors are susceptible to scams, constantly switching strategies, and experiencing stress.
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