In every crisis, three things happen. First, you lose perspective, lost in the weeds as you try to understand what is happening on a day-to-day basis. Second, you lose faith in everything that you thought you knew, as you are confronted with the unusual and uncommon. Third, you outsource your thinking, and look to experts to tell you what to do. In this session, I talk about the lessons I have learned during this crisis about markets (they are not as chaotic as they look), about fundamentals (they matter more than ever), about smart money (there is no such thing) and the importance of story telling. I hope that the session, rather than giving you my answers to your questions, gives you a framework for finding the answers on your own.
Dr. Aswath Damodaran, Professor of Finance, Stern School of Business, NYU (New York)
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