Group 1 - The current market environment is characterized by tech stocks reaching new all-time highs, leading to increased investor optimism and extrapolation of past performance into future expectations [1] Group 2 - Philipp, a value investor with nearly 20 years of experience, adopts a global investment strategy focusing on undervalued companies that provide a significant margin of safety, attractive dividend yields, and returns [2] - The investment philosophy emphasizes understanding the companies thoroughly and assessing their future growth potential, particularly favoring those with a solid earnings track record trading at less than 8 times free cash flow [2]