Market Moments with David Poppe, Giverny Capital Asset Management (April 2024)

April 18, 2024

In this Market Moments conversation, David Poppe, President and co-founder of Giverny Capital Asset Management, and Paul Miller, Partner in the Investment Management practice, discuss the performance of Giverny Capital Asset Management in 2023 and the challenges of a narrow market dominated by a few technology companies. Poppe also addresses the issue of fee compression in the asset management industry and the impact of cash on the sidelines. Poppe shares his thoughts on the influence of AI on the market and investing, as well as the risks and vulnerabilities in the market, including the high market PE multiple and the long-term impact of government deficits.

00:00 Introduction and Business Update
01:25 The Narrow Market and Investment Decisions
03:34 Fee Compression
06:18 Cash on the Sidelines and Market Prospects
08:21 The Influence of AI on the Market and Investing
09:45 Risks and Vulnerabilities in the Market