Deep Values: Value Investing Deep Dives

We take apart Anthropic's 416-page IPO prospectus with Damodaran's valuation: revenue up 1,400%, but $473B in compute commitments that work like debt, a BB+ rating and a five-class share structure. His optimistic base case puts intrinsic value at about $1.48T, while expected IPO pricing of $1.5T to $2T leaves no margin of safety.

Chapters

(0:00) Anthropic's IPO: A Deep Value X-Ray

(0:46) Great Technology Isn't Great Investment

(2:05) Business Model and Competitive Position

(2:52) Revenue: The Boom and the Brakes

(5:52) Profitability: The Operating Leverage Trap

(6:53) The Intrinsic Value Engine

(7:34) Profitability: The Operating Leverage Trap

(8:12) Capital Allocation and Hidden Debt

(9:35) Three Existential Risks

(11:18) The Governance Dealbreaker

(14:36) The Intrinsic Value Engine

(14:56) Business Model and Competitive Position

(15:17) The Intrinsic Value Engine

(15:37) Valuation and Margin of Safety

(16:15) Bull vs Bear Scenarios

(16:55) The Verdict for Long-Term Investors

(18:34) Apps for Intelligent Value Investors

(19:00) Get the free apps

Full open-source research report: https://research.deepvalues.ai/insights/2026-10-28-anthropic-ipo-valuation-and-prospectus-analysis/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=why_anthropic_s_ipo_is_overvalued

DeepValues toolkit

• Free Margin of Safety Weekly, every Saturday (guru moves, market temperature, the week's research; no account needed): https://app.deepvalues.ai/letter?src=spotify&ref=why_anthropic_s_ipo_is_overvalued

• DeepValues for iOS, intrinsic value and margin of safety for any stock: https://apps.apple.com/us/app/deepvalues/id6775568608

• Is the market overvalued? Track it with Buffett Indicator (iOS): https://apps.apple.com/us/app/buffett-indicator/id6747404614

• The same market gauge on Android, Bubble Watch: https://play.google.com/store/apps/details?id=com.luluventures.buffett&referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dcompany

• Open-source research on 300+ companies: https://research.deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=why_anthropic_s_ipo_is_overvalued

• Deep Value Intelligence, the multi-agent AI analyst: https://deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=why_anthropic_s_ipo_is_overvalued

The Fed held rates at 3.75%-4.00%, but two governors dissented and voted for another hike, and Chair Warsh says conditions still aren't tight. Here is what that 10-2 split means for discount rates, margin of safety and companies with heavy debt.

Chapters

(0:00) FOMC Rate Pause Big Picture

(2:21) Target Rate and 10-2 Vote

(3:45) Strong Economy, Stubborn Inflation

(4:25) Key Risks: The Bear Case

(5:04) Strong Economy, Stubborn Inflation

(9:07) The Warsh Playbook

(12:25) Financial Conditions Spectrum

(13:10) The Warsh Playbook

(14:11) Strong Economy, Stubborn Inflation

(14:52) Financial Conditions Spectrum

(15:50) Key Risks: The Bear Case

(18:15) Takeaway for Long-Term Investors

(20:25) The DeepValues Ecosystem

(21:02) Get the free apps

DeepValues toolkit

• Free Margin of Safety Weekly, every Saturday (guru moves, market temperature, the week's research; no account needed): https://app.deepvalues.ai/letter?src=spotify&ref=why_two_fed_governors_demanded_rate_hike

• Is the market overvalued? Track it with Buffett Indicator (iOS): https://apps.apple.com/us/app/buffett-indicator/id6747404614

• The same market gauge on Android, Bubble Watch: https://play.google.com/store/apps/details?id=com.luluventures.buffett&referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dmarket

• Open-source research on 300+ companies: https://research.deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=market&utm_content=why_two_fed_governors_demanded_rate_hike

• Deep Value Intelligence, the multi-agent AI analyst: https://deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=market&utm_content=why_two_fed_governors_demanded_rate_hike

• DeepValues for iOS, intrinsic value and margin of safety for any stock: https://apps.apple.com/us/app/deepvalues/id6775568608

• Developer API for your AI agents: https://app.deepvalues.ai/developers?utm_source=spotify&utm_medium=description&utm_campaign=market&utm_content=why_two_fed_governors_demanded_rate_hike

Deep Value Intelligence audits the numbers behind the headlines with a Graham-Dodd / Buffett lens: valuation discipline, cash generation, balance-sheet safety and return on capital. Don't guess. Calculate.

• This episode on YouTube: https://youtu.be/y8XriOffd3o

Subscribe: https://youtube.com/@TheDeepValues?sub_confirmation=1

Podcast (Deep Values): Spotify https://open.spotify.com/show/2XDn2NMbbfvrJiqk9xAqR9 · Apple Podcasts https://podcasts.apple.com/us/podcast/id1811057697

We read Anthropic's S-1 with a Graham-Dodd lens: a 3,300% headline growth rate, a growth slowdown in Q3, more than $800B in compute commitments and a single share that gives seven founders control. Then we look at where autonomous-vehicle economics look most durable, at least under the episode's assumptions.

Chapters

(0:00) A Deep Value Lens on AI and AVs

(1:05) Generative Euphoria vs Physical AI

(2:09) Diagnosing the Anthropic S-1 Headlines

(3:12) The Token Maxing Illusion

(6:09) Moat, Governance and Macro Risks

(8:15) Diagnosing the Anthropic S-1 Headlines

(9:38) The Iceberg of Capital Commitments

(10:39) Moat, Governance and Macro Risks

(13:23) Value Verdict: A Speculative Venture Bet

(14:41) AV Safety Value vs Headwinds

(15:38) The AV Competitive Matrix

(17:21) Geopolitics and the Moat of Geography

(17:40) AV Safety Value vs Headwinds

(18:22) The Picks and Shovels Strategy

(20:46) Value Verdict: A Speculative Venture Bet

(21:46) The Picks and Shovels Strategy

(22:26) Apps for the Intelligent Value Investor

(23:16) Get the free apps

DeepValues toolkit

• Free Margin of Safety Weekly, every Saturday (guru moves, market temperature, the week's research; no account needed): https://app.deepvalues.ai/letter?src=spotify&ref=anthropic_s1_red_flags_and_autonomous_ve

• Is the market overvalued? Track it with Buffett Indicator (iOS): https://apps.apple.com/us/app/buffett-indicator/id6747404614

• The same market gauge on Android, Bubble Watch: https://play.google.com/store/apps/details?id=com.luluventures.buffett&referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dmarket

• Open-source research on 300+ companies: https://research.deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=market&utm_content=anthropic_s1_red_flags_and_autonomous_ve

• Deep Value Intelligence, the multi-agent AI analyst: https://deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=market&utm_content=anthropic_s1_red_flags_and_autonomous_ve

• DeepValues for iOS, intrinsic value and margin of safety for any stock: https://apps.apple.com/us/app/deepvalues/id6775568608

• Developer API for your AI agents: https://app.deepvalues.ai/developers?utm_source=spotify&utm_medium=description&utm_campaign=market&utm_content=anthropic_s1_red_flags_and_autonomous_ve

Deep Value Intelligence audits the numbers behind the headlines with a Graham-Dodd / Buffett lens: valuation discipline, cash generation, balance-sheet safety and return on capital. Don't guess. Calculate.

• This episode on YouTube: https://youtu.be/C_YY9sp3yjM

Bearish on Robinhood Markets (HOOD) as of 2026-11-11: -28% Margin of safety. We audit Robinhood's Q3 2026 numbers: $2.25B in free cash flow, a 46% operating margin, zero debt, and the share dilution behind the buybacks. Then we show why a 42.8x P/E and a 17.8% implied growth rate put today's price above our estimated intrinsic-value range.

Chapters

(0:00) Robinhood Q3 2026 Dossier

(0:38) Business Reality vs Price Reality

(1:56) Revenue Mix and Funded Customers

(4:37) Fortress Balance Sheet and Cash

(5:16) Revenue Growth and Operating Leverage

(5:54) Narrow but Widening Moat

(8:11) Fortress Balance Sheet and Cash

(8:32) Key Risks Pre-Mortem

(10:29) Capital Allocation and Dilution

(13:34) The Standards Scorecard

(14:11) Bull Case vs Bear Case

(17:55) Valuation Scenarios and Reverse DCF

(19:53) Margin of Safety and Value Zones

(20:13) Verdict and What Would Change It

(20:34) Margin of Safety and Value Zones

(21:17) Verdict and What Would Change It

(23:02) Disclaimer

(23:28) Get the free apps

Full open-source research report: https://research.deepvalues.ai/insights/2026-10-27-robinhood-q3-2026-deep-value-intelligence-report/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=hood

DeepValues toolkit

• Free Margin of Safety Weekly, every Saturday (guru moves, market temperature, the week's research; no account needed): https://app.deepvalues.ai/letter?src=spotify&ref=hood

• DeepValues for iOS, intrinsic value and margin of safety for any stock: https://apps.apple.com/us/app/deepvalues/id6775568608

• Is the market overvalued? Track it with Buffett Indicator (iOS): https://apps.apple.com/us/app/buffett-indicator/id6747404614

• The same market gauge on Android, Bubble Watch: https://play.google.com/store/apps/details?id=com.luluventures.buffett&referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dcompany

• Open-source research on 300+ companies: https://research.deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=hood

• Deep Value Intelligence, the multi-agent AI analyst: https://deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=hood

• Developer API for your AI agents: https://app.deepvalues.ai/developers?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=hood

Deep Value Intelligence audits the numbers behind the headlines with a Graham-Dodd / Buffett lens: valuation discipline, cash generation, balance-sheet safety and return on capital. Don't guess. Calculate.

We run Anthropic's leaked S-1 numbers through a Graham-Dodd lens: 85% inference margins, $100B+ in cash and $500-600B in compute commitments. Then we look at what a trillion-dollar AI valuation leaves for a patient investor's margin of safety before the IPO.

Chapters

(0:00) Anthropic Deep Value Research

(1:59) The Capital-Efficient Compounder

(2:37) Selling a Dollar for Ten Cents

(3:33) The Capital-Efficient Compounder

(3:53) Unprecedented Operating Leverage

(4:35) The Multi-Chip Moat

(6:39) Anthropic vs. the Field

(6:59) Unprecedented Operating Leverage

(7:39) Unit Economics and Customer Concentration

(11:50) Funding the Infrastructure Roadmap

(14:33) Key Risks and Margin of Safety

(15:12) The Mathematical Path to $1 Trillion

(16:13) Key Risks and Margin of Safety

(18:32) Anthropic vs. the Field

(19:35) The Verdict: Paving the Parking Lot

(20:17) The Mathematical Path to $1 Trillion

(21:25) The Verdict: Paving the Parking Lot

(22:51) Tools for Value Investors

(23:08) Get the free apps

DeepValues toolkit

• Free Margin of Safety Weekly, every Saturday (guru moves, market temperature, the week's research; no account needed): https://app.deepvalues.ai/letter?src=spotify&ref=valuing_anthropic_s_ipo_like_warren_buff

• DeepValues for iOS, intrinsic value and margin of safety for any stock: https://apps.apple.com/us/app/deepvalues/id6775568608

• Is the market overvalued? Track it with Buffett Indicator (iOS): https://apps.apple.com/us/app/buffett-indicator/id6747404614

• The same market gauge on Android, Bubble Watch: https://play.google.com/store/apps/details?id=com.luluventures.buffett&referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dcompany

• Open-source research on 300+ companies: https://research.deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=valuing_anthropic_s_ipo_like_warren_buff

• Deep Value Intelligence, the multi-agent AI analyst: https://deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=valuing_anthropic_s_ipo_like_warren_buff

• Developer API for your AI agents: https://app.deepvalues.ai/developers?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=valuing_anthropic_s_ipo_like_warren_buff

Deep Value Intelligence audits the numbers behind the headlines with a Graham-Dodd / Buffett lens: valuation discipline, cash generation, balance-sheet safety and return on capital. Don't guess. Calculate.

• This episode on YouTube: https://youtu.be/7fTu_W5Dk1w

Subscribe: https://youtube.com/@TheDeepValues?sub_confirmation=1

A former Alibaba executive was told to multiply her forecast by seven, and her team hit it. Learn what that hyper-growth era cost her health and her family, and why value investors should audit their own human capital as carefully as a balance sheet.

Chapters

(0:00) The Economics of Hyper-Growth

(0:55) Thesis: Growth's Unfunded Liabilities

(2:39) The Scaling Engine

(5:21) By the Numbers: The Bull Run

(6:39) The Bear Case: Human Capital

(7:41) Pivot to Intrinsic Value

(10:03) The Cortisol Tax

(11:43) Pivot to Intrinsic Value

(12:06) Why Tech Frameworks Fail

(13:03) The Ultimate Asset Class

(13:25) Apps and Resources

(14:11) Get the free apps

DeepValues toolkit

• Free Margin of Safety Weekly, every Saturday (guru moves, market temperature, the week's research; no account needed): https://app.deepvalues.ai/letter?src=spotify&ref=from_alibaba_executive_to_special_needs_

• DeepValues for iOS, intrinsic value and margin of safety for any stock: https://apps.apple.com/us/app/deepvalues/id6775568608

• Is the market overvalued? Track it with Buffett Indicator (iOS): https://apps.apple.com/us/app/buffett-indicator/id6747404614

• The same market gauge on Android, Bubble Watch: https://play.google.com/store/apps/details?id=com.luluventures.buffett&referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dmoney

• Open-source research on 300+ companies: https://research.deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=money&utm_content=from_alibaba_executive_to_special_needs_

• Deep Value Intelligence, the multi-agent AI analyst: https://deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=money&utm_content=from_alibaba_executive_to_special_needs_

• Developer API for your AI agents: https://app.deepvalues.ai/developers?utm_source=spotify&utm_medium=description&utm_campaign=money&utm_content=from_alibaba_executive_to_special_needs_

Deep Value Intelligence audits the numbers behind the headlines with a Graham-Dodd / Buffett lens: valuation discipline, cash generation, balance-sheet safety and return on capital. Don't guess. Calculate.

• This episode on YouTube: https://youtu.be/jzKvxzQB-qE

Subscribe: https://youtube.com/@TheDeepValues?sub_confirmation=1

Podcast (Deep Values): Spotify https://open.spotify.com/show/2XDn2NMbbfvrJiqk9xAqR9 · Apple Podcasts https://podcasts.apple.com/us/podcast/id1811057697

Bullish on PayPal (PYPL) as of 2026-11-08: $6.58B Free cash flow TTM. We put PayPal's $6.58B in free cash flow, its 31% share retirement and three DCF scenarios side by side to see whether a 9.3x P/E is a value trap or a real margin of safety. Revenue is growing only 2% and Apple Pay is squeezing checkout, so the cash numbers tell you more than the story the market is telling.

Chapters

(0:00) PayPal Deep Value Teardown

(0:43) The Investment Thesis

(1:46) Business Model and Monetization

(4:44) Moat and Competitive Threats

(5:50) Key Financials TTM Q3 2026

(6:55) Bull vs Bear Case and Risks

(7:15) Key Financials TTM Q3 2026

(10:33) Bull vs Bear Case and Risks

(11:12) Capital Allocation and Buybacks

(13:25) The Deep Value Scorecard

(14:07) Valuation and Margin of Safety

(14:50) Verdict: Undervalued

(15:53) Resources for Value Investors

(16:08) Get the free apps

Full open-source research report: https://research.deepvalues.ai/insights/2026-10-27-paypal-valuation-and-financial-analysis/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=pypl

DeepValues toolkit

• Free Margin of Safety Weekly, every Saturday (guru moves, market temperature, the week's research; no account needed): https://app.deepvalues.ai/letter?src=spotify&ref=pypl

• DeepValues for iOS, intrinsic value and margin of safety for any stock: https://apps.apple.com/us/app/deepvalues/id6775568608

• Is the market overvalued? Track it with Buffett Indicator (iOS): https://apps.apple.com/us/app/buffett-indicator/id6747404614

• The same market gauge on Android, Bubble Watch: https://play.google.com/store/apps/details?id=com.luluventures.buffett&referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dcompany

• Open-source research on 300+ companies: https://research.deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=pypl

• Deep Value Intelligence, the multi-agent AI analyst: https://deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=pypl

• Developer API for your AI agents: https://app.deepvalues.ai/developers?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=pypl

Deep Value Intelligence audits the numbers behind the headlines with a Graham-Dodd / Buffett lens: valuation discipline, cash generation, balance-sheet safety and return on capital. Don't guess. Calculate.

• This episode on YouTube: https://youtu.be/bWHBTi95iKw

Subscribe: https://youtube.com/@TheDeepValues?sub_confirmation=1

Deep value research on Microsoft (MSFT) as of 2026-11-07: $190B AI capex plan. A leaked memo shows Microsoft offering buyouts to about 60,000 employees, roughly 27% of its workforce, while planning up to $190B in AI data center spending. We use a Graham-Buffett lens to show what swapping payroll for depreciating hardware means for owner earnings, maintenance capex and the moat.

Chapters

(0:00) The Capital Allocation Pivot

(0:39) Swapping OPEX for CAPEX

(1:47) Anatomy of the Buyout Memo

(2:53) Velocity of Execution

(3:16) What Stays vs. What Goes

(6:03) The $190B Infrastructure Runway

(7:04) Swapping OPEX for CAPEX

(9:09) Velocity of Execution

(10:09) The Bear Case Risks

(12:44) The $190B Infrastructure Runway

(14:50) AI-Era Playbook for Value Investors

(18:05) Tools for Value Investors

(18:43) Get the free apps

Full open-source research report: https://research.deepvalues.ai/company/msft/2026-10-04-en/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=msft

DeepValues toolkit

• DeepValues for iOS, intrinsic value and margin of safety for any stock: https://apps.apple.com/us/app/deepvalues/id6775568608

• Is the market overvalued? Track it with Buffett Indicator (iOS): https://apps.apple.com/us/app/buffett-indicator/id6747404614

• The same market gauge on Android, Bubble Watch: https://play.google.com/store/apps/details?id=com.luluventures.buffett&referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dcompany

• Open-source research on 300+ companies: https://research.deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=msft

• Deep Value Intelligence, the multi-agent AI analyst: https://deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=msft

• Developer API for your AI agents: https://app.deepvalues.ai/developers?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=msft

Deep Value Intelligence audits the numbers behind the headlines with a Graham-Dodd / Buffett lens: valuation discipline, cash generation, balance-sheet safety and return on capital. Don't guess. Calculate.

• This episode on YouTube: https://youtu.be/U7Y0cSrOtLk

Subscribe: https://youtube.com/@TheDeepValues?sub_confirmation=1

Podcast (Deep Values): Spotify https://open.spotify.com/show/2XDn2NMbbfvrJiqk9xAqR9 · Apple Podcasts https://podcasts.apple.com/us/podcast/id1811057697

Bearish on Anthropic (ANT) as of 2026-11-06: $431B Fixed compute. We tear down Anthropic's S-1 to show why its $80.7B loss is mostly a non-cash accounting charge, and why $431B in fixed compute commitments matters far more. Then we stress-test the rumored $1.5T valuation with Graham-Dodd math to see whether any margin of safety is left.

Chapters

(0:00) Anthropic Pre-IPO Diagnostic

(0:40) From AI Lab to Infrastructure Operator

(1:02) Steepest Revenue Ramp in History

(1:42) Consumption Revenue and the Agent Loop

(2:02) The $80.7B Accounting Loss Explained

(3:42) Operating Leverage Expands Rapidly

(5:46) Liquidity Is Ammunition, Not FCF

(7:40) From AI Lab to Infrastructure Operator

(8:17) The $431B Infrastructure Bet

(10:01) A Moat on a Six-Month Timer

(10:41) Bull Case vs Bear Case

(11:04) A Moat on a Six-Month Timer

(12:02) Bull Case vs Bear Case

(12:42) PBC Structure Subordinates Shareholders

(15:21) Bull Case vs Bear Case

(16:03) Stress-Testing the $1.5T Valuation

(17:31) Bull Case vs Bear Case

(18:34) Verdict: Awaiting a Margin of Safety

(19:55) Resources for Value Investors

(20:20) Get the free apps

DeepValues toolkit

• DeepValues for iOS, intrinsic value and margin of safety for any stock: https://apps.apple.com/us/app/deepvalues/id6775568608

• Is the market overvalued? Track it with Buffett Indicator (iOS): https://apps.apple.com/us/app/buffett-indicator/id6747404614

• The same market gauge on Android, Bubble Watch: https://play.google.com/store/apps/details?id=com.luluventures.buffett&referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dcompany

• Open-source research on 300+ companies: https://research.deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=ant

• Deep Value Intelligence, the multi-agent AI analyst: https://deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=ant

• Developer API for your AI agents: https://app.deepvalues.ai/developers?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=ant

Deep Value Intelligence audits the numbers behind the headlines with a Graham-Dodd / Buffett lens: valuation discipline, cash generation, balance-sheet safety and return on capital. Don't guess. Calculate.

• This episode on YouTube: https://youtu.be/CbJrxHV9j18

Subscribe: https://youtube.com/@TheDeepValues?sub_confirmation=1

Podcast (Deep Values): Spotify https://open.spotify.com/show/2XDn2NMbbfvrJiqk9xAqR9 · Apple Podcasts https://podcasts.apple.com/us/podcast/id1811057697

Executive Order 14330 opens the $14 trillion 401(k) pool to private equity just as the average PE deal sits 60% below its 2021 valuation. We compare that mark-to-myth trap with ASML's transparent EUV monopoly, and show why even a wide moat needs a mid-cycle, normalized valuation.

Chapters

(0:00) The PE Trap and the Ultimate Monopoly

(0:43) The Noise vs the Signal

(1:47) EO 14330: The Exit Valve

(2:07) Venture Capital Probability Funnel

(2:25) The Mark-to-Myth Haircut

(3:26) Public Moat vs Private Trap

(4:05) Sequoia vs S&P 500 Benchmark

(4:44) Public Moat vs Private Trap

(5:45) The Signal: ASML Holding

(6:08) How EUV Machines Print Chips

(7:09) ASML's Moat and Market Position

(7:50) Key Economics and Financials

(8:49) Geopolitical Risks and Limits

(9:27) Valuation: The Cyclical Trap

(10:05) The Value Architect's Takeaways

(10:44) Valuation: The Cyclical Trap

(11:05) Geopolitical Risks and Limits

(11:35) Get the free apps

DeepValues toolkit

• Is the market overvalued? Track it with Buffett Indicator (iOS): https://apps.apple.com/us/app/buffett-indicator/id6747404614

• The same market gauge on Android, Bubble Watch: https://play.google.com/store/apps/details?id=com.luluventures.buffett&referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dmarket

• Open-source research on 300+ companies: https://research.deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=market&utm_content=private_equity_in_401ks_vs_asml

• Deep Value Intelligence, the multi-agent AI analyst: https://deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=market&utm_content=private_equity_in_401ks_vs_asml

• DeepValues for iOS, intrinsic value and margin of safety for any stock: https://apps.apple.com/us/app/deepvalues/id6775568608

• Developer API for your AI agents: https://app.deepvalues.ai/developers?utm_source=spotify&utm_medium=description&utm_campaign=market&utm_content=private_equity_in_401ks_vs_asml

Deep Value Intelligence audits the numbers behind the headlines with a Graham-Dodd / Buffett lens: valuation discipline, cash generation, balance-sheet safety and return on capital. Don't guess. Calculate.

• This episode on YouTube: https://youtu.be/Fi2rsSEn8e8

Subscribe: https://youtube.com/@TheDeepValues?sub_confirmation=1

Podcast (Deep Values): Spotify https://open.spotify.com/show/2XDn2NMbbfvrJiqk9xAqR9 · Apple Podcasts https://podcasts.apple.com/us/podcast/id1811057697