I'm telling you, ready to be criticized" Samsung Electronics and SK Hynix are expensive right now. / Value investing method that isn't afraid of a market crash | Professor Seo Jun-sik, Department of Economics, Soongsil University

Summary

Professor Seo Jun-sik argues that the KOSPI, Samsung Electronics, and SK Hynix common shares have become expensive after a strong rally, driven by peak semiconductor earnings that are unlikely to be sustained. He recommends avoiding these common shares for now and instead, for long-term value investors, buying preferred shares of Samsung Electronics and Hyundai Motor. He also shares his personal value-investing philosophy centered on dividend growth and ignoring market FOMO.

• KOSPI index is now in an expensive phase after rising above 8,000; the 5,000–6,000 range was cheap.
• Samsung Electronics and SK Hynix common shares are not a buy despite low P/E ratios because current record profits are a temporary bumper harvest.
• The speaker uses ROE-based long-term valuation and expects declining ROE, undermining the re-rating narrative.
• Preferred shares of Samsung Electronics and Hyundai Motor are presented as a more rational way to own these companies for long-term dividend-oriented investors.
• The speaker discloses he underperformed the market over the past year but remains committed to a value approach targeting 15% annual compound returns.
• Investors are advised to define their identity (long-term farmer vs. short-term hunter) and avoid switching into hot momentum stocks.