We Invest Micro but Worry Macro | CFA Society UK

Value investing is not about buying statistically cheap stocks. It never was.

In this CFA Society UK Q&A recorded in London, I talk about how value investing has evolved, why many investors think it is dead, and why that conclusion usually comes from misunderstanding what value investing actually is.

We discuss how I manage risk when markets become unpredictable, why I “micro-dose” positions during periods of political and economic uncertainty, and how to avoid the boiling-frog problem that quietly destroys capital.

The conversation also covers living with intention, separating signal from noise, the role of management quality, and how long-term investors should think about AI, Nvidia, and the risk of overinvestment bubbles.

This is not a market forecast. It is a discussion about judgment, patience, and thinking independently in an increasingly noisy world.

Recorded at CFA Society UK, London.