LIVE Office Hours - 20 Years on Wall Street Taught me This

Most people buying stocks right now have no idea what those stocks are actually worth. Not a rough idea. Not a ballpark. Zero. And Ken Freeman — CFA, 20 years on Wall Street, the guy who literally trained analysts at JPMorgan, Morgan Stanley, and BlackRock yesterday — says that isn't just a mistake. It's financial suicide. In this live stream, Ken breaks down the thing nobody on YouTube will say out loud: If you can't put a number on the value of a stock you own, you're not investing. You're gambling. With your own money. At the most expensive table in the casino. He covers: — Why 98% of professional money managers can't beat the S&P 500, and what that actually means for you — The 3 ways Wall Street values any company (and which one you should be using) — Why credibility on YouTube is completely broken — and why it matters more than you think — The single most valuable skill in all of finance, and why your college degree didn't teach it to you — The core-satellite strategy that $10M+ clients at major financial institutions are actually using right now This isn't hot takes. This isn't a stock tip. This is the framework. The people who know this don't lose money on Rivian at $179. They don't ride Peloton down 95%. They already knew the value. So they never bought it in the first place. If you've ever bought a stock without knowing what it was worth — and most of you have — this is where you start fixing that. Chapters: 0:00 Why Ken came back to live streams 0:17 What we're covering today 1:03 The credibility problem on YouTube 1:42 Ken brings receipts — literally at Morgan Stanley yesterday 3:26 Why Ken refuses to be Jim Cramer 4:00 The gym analogy: followers vs. results 5:09 Would you take cooking advice from a random person or a Michelin chef? 7:07 What this channel actually stands for 7:57 The cat-with-a-laser-pointer problem with finance YouTube 9:32 The short Jim Cramer index — and why it works 10:07 The car analogy: why you'd never buy a car this way but you buy stocks this way 11:17 If you don't know what a stock is worth, just stop 12:57 The S&P 500 argument — and why Ken's own retirement is in VOO 14:02 98% of professional money managers can't beat the index 15:13 Celsius and PayPal: good company vs. undervalued company 16:23 What $10M+ clients are actually told by financial institutions 17:30 The core-satellite strategy explained 18:07 COVID EV stocks and the danger of chasing trends 20:02 Why should you buy a stock at all? 21:25 Warren Buffett's million-dollar bet against hedge funds 22:51 How hedge funds actually generate alpha 23:25 Confirmation bias — and why your friend who didn't invest is always bearish 26:00 A stock is an ownership stake, not a line on a chart 27:11 Core-satellite in practice: what your portfolio should look like 29:27 What makes a great company 30:18 The 3 ways to value any stock 30:30 Method 1: Market value and comps explained 32:48 Method 2: Discounted cash flow (DCF) explained 33:28 Method 3: Asset value — and when it actually matters 34:06 The "I spent $100K on..." thumbnail problem 36:02 The most valuable skill in all of finance 36:29 Why people buy stocks that go up — and why that's insane 38:09 Valuation and financial modeling: period, full stop 39:44 Give a man a fish vs. teach a man to fish 40:20 When should you sell a stock? 41:23 Why AI tools like ChatGPT and Claude can't replace a real valuation 43:02 Celsius: massively undervalued, and here's exactly why 43:41 Ken's dream for this channel 45:16 The great unlock: what changes when you can value any company 46:07 What you're actually competing against in the market 47:46 Portfolio management: the skill nobody talks about 48:12 Warren Buffett trimmed Apple and lost $900M — and it was the right call 49:04 Stop looking for the next Nvidia. Look for the current. 50:00 Mercado Libre and the algorithm problem 50:43 The Sterling Infrastructure call nobody saw 54:15 Full recap: credibility, valuation, the most valuable skill