At the Money: Investing Skill vs. Luck

Masters in Business

Bloomberg

Business, Investing

4.4 • 2.2K Ratings

🗓️ 6 December 2023

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

Is it better to be lucky or good? How much of a role does luck pay in investing? And how can you tell the difference between chance and skill? In this episode of At the Money, Barry Ritholtz discusses the issue with Michael J. Mauboussin. Mauboussin is Head of Consilient Research at Counterpoint Global, Morgan Stanley Investment Management. Previously, he was Director of Research at BlueMountain Capital, Head of Global Financial Strategies at Credit Suisse, and Chief Investment Strategist at Legg Mason Capital Management.

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0:00.0	The media alone can't ease the tensions that come from the debate surrounding the issues we deal with every day.
0:05.7	However, we can create spaces where people can freely kick the tires of their preconceived notions.
0:11.2	I'm Tim O'Brien, and I'm the senior executive editor at
0:13.8	Bloomberg Opinion. On our platform we ask tough questions and solve complex
0:18.1	problems with the facts in mind. Because context changes how you see things and
0:22.4	how you change things.
0:23.6	Context changes everything.
0:25.6	Start exploring our opinion coverage and more at Bloomberg.com.
0:28.8	subscribe.
0:30.1	I'm Barry Ritholtz and I'm excited to tell you about my new podcast at the money.
0:35.0	Each week I'm going to spend about 10 minutes or so
0:38.0	diving deep into a specific topic that affects you and your money, acquiring it, spending it, and most of all investing
0:47.4	it.
0:48.4	Strap in for at the money, starting right now.
0:52.1	We're up all night to get lucky.
0:54.0	We're up all night to get lucky.
0:56.0	We're up all night to get lucky.
0:58.0	We're up all night to get lucky.
1:00.0	I'm Barry Ritoltz and on today's edition of At the Money, we are going to discuss how to
1:06.5	distinguish between skill and luck and hopefully how to make better investment decisions. To help us unpack all of this and what it means for your portfolio,
1:17.0	let's bring in Michael Mobison,
1:19.0	head of conciliate research at Morgan Stanley's counterpoint global division.
	...

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