Question
Seth Klarman's book on “Thoughtful” strategies in this paradigm includes a story about a buyer who treats himself to sardines amid a market craze for them, not realizing that they are merely “trading sardines.” For 10 points each:
[10m] Name this investing paradigm coined by Benjamin Graham and promoted by his student Warren Buffett. This paradigm's “deep” form appears in the profane Reddit username of Keith Gill, who led the GameStop squeeze.
ANSWER: value investing [accept deep value or DeepFuckingValue]
[10h] Klarman’s book is titled for this central quantity of value investing. This three-word quantity equals the difference between a stock's price and its intrinsic value.
ANSWER: margin of safety [prompt on margin or MOS]
[10e] Graham introduced the value investing maxim that the market is locally a “voting machine” but becomes a “weighing machine” in this time period. John Maynard Keynes quipped that, in this time period, “we are all dead.”
ANSWER: long run [accept “in the long run, we are all dead”]
<Morrison, Social Science>
Summary
| 2024 ESPN @ Stanford | 03/09/2024 | Y | 2 | 15.00 | 50% | 100% | 0% |
Data
| Berkeley A | Free Agents | 10 | 0 | 10 | 20 |
| Berkeley B | Stanford | 10 | 0 | 0 | 10 |