Aswath Damodaran: A Valuation Expert’s Take on Inflation, Stock Buybacks, ESG, and More

<p>Hi, and welcome to <i>The Long View</i>. I’m Christine Benz, director of personal finance and retirement planning for Morningstar. Our guest on the podcast today is Aswath Damodaran. Damodaran is a professor of finance at the Stern School of Business at New York University, and he has been called the dean of valuation. He has written several books on equity valuation, investment management, and corporate finance. This interview was recorded at the Morningstar Investment Conference in April 2023.</p><p>Background</p><p><a href="https://www.stern.nyu.edu/faculty/bio/aswath-damodaran">Bio</a></p><p><a href="https://pages.stern.nyu.edu/~adamodar/New_Home_Page/public.htm">Books</a> by Aswath Damodaran</p><p>Interest Rates and Inflation</p><p>“<a href="https://pages.stern.nyu.edu/~adamodar/pdfiles/blog/Inflation.pdf">Inflation and Investing: Is the Genie Out of the Bottle?</a>” by Aswath Damodaran, NYU Stern School of Business.</p><p>“<a href="https://aswathdamodaran.blogspot.com/2022/05/in-search-of-steady-state-inflation.html">In Search of a Steady State: Inflation, Interest Rates, and Value</a>,” by Aswath Damodaran, <a href="http://aswathdamodaran.blogspot.com/" target="_blank"><i>Musings on Markets</i> blog</a>, May 6, 2022.</p><p>“<a href="https://aswathdamodaran.blogspot.com/2022/05/a-follow-up-on-inflation-disparate.html">A Follow Up on Inflation: The Disparate Effects on Company Values!</a>” by Aswath Damodaran, <a href="http://aswathdamodaran.blogspot.com/" target="_blank"><i>Musings on Markets</i> blog</a>, May 20, 2022.</p><p>“<a href="https://economictimes.indiatimes.com/markets/stocks/news/malaise-in-market-will-last-longer-if-investors-behave-like-its-the-70s-aswath-damodaran/articleshow/94468751.cms?from=mdr">Malaise in Market Will Last Longer if Investors Behave Like It’s the ‘70s: Aswath Damodaran</a>,” by Nikhil Agarwal, <i>The Economic Times</i>, Sept. 27, 2022.</p><p>Equity Risk Premium</p><p>“<a href="https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/ctryprem.html">Country Default Sp