Aswath Damodaran: “World Order is Coming Apart” | Prof G Markets

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This week on Prof G Markets, Scott Galloway and Ed Elson are joined by Professor Aswath Damodaran. They discuss the unraveling global order, unpack the “catastrophic risks” that are on his radar, and get his take on the software selloff. Plus, he breaks down whether he would prefer Anthropic or OpenAI in his portfolio. Aswath Damodaran is the Kerschner Family Chair in Finance Education and Professor of Finance at NYU’s Stern School of Business. You can read Aswath Damodaran's research on Musings on Markets here! https://aswathdamodaran.blogspot.com/ Subscribe to our Markets Newsletter! https://links.profgmedia.com/markets-newsletter Order "Notes On Being A Man" now! https://amzn.to/4nl4VKo Note: We may earn revenue from some of the links we provide. Timestamps: 00:00 Today’s number 00:32 Today’s episode 04:47 Interview with Aswath Damodaran 05:02 How has your position changed or not changed since we last spoke? 10:11 Will the correction be a function of a slowdown in the fundamentals of businesses or a sentiment multiple problem? 14:25 Have these software companies been oversold? 22:38 Ad Break 24:04 Have you looked into Anthropic and OpenAI and their respective valuations? 26:17 How do private market leaders reshape public market dynamics? 29:39 Is it too narrow to focus only on software and ignore broader geopolitical risks? 34:52 What signals have convinced you that risks are larger than they appear? 37:54 Is that not kind of an example of the outsourcing that you describe? 39:21 What are your thoughts on the dollar and how it intersects with different markets? 42:00 Ad Break 43:30 What is your view overall on a meta level of these prediction markets? 48:02 Would a simple S&P strategy have outperformed alternatives after fees in the 60s? 49:33 When do you trust the market’s signal and when do you doubt it? 53:25 Do you think the world will look different when Trump leaves office or do you think things have changed for good? 57:12 What are your views on higher education? 01:03:08 What’s your outlook for 2026? 01:04:11 Break 01:04:20 Conclusion 01:07:00 Credits Follow Scott on Instagram: https://instagram.com/profgalloway Follow Ed on Instagram and X: https://instagram.com/ed_elson_/ https://twitter.com/edels0n Subscribe to Prof G Markets on Spotify: https://links.profgmedia.com/markets-spotify Got a question for Prof G? Get answers on TikTok: https://links.profgmedia.com/tiktok Want more Prof G? Check out everything we're up to at: https://links.profgmedia.com/home #business #news #tech #financemotivation #stockmarket #profg #scottgalloway #profgmarkets #ai #earnings #stocks #inflation #investmentstrategies #investment #investing #gdp #podcast #recession #tariffs