Hello and welcome everyone, I'm Patrick O'Shaughnessy and this is Invest Like The Best.

This show is an open-ended exploration of markets, ideas, methods, stories, and of strategies

that will help you better invest both your time and your money.

You can learn more and stay up to date at InvestorFieldGuide.com.

Patrick O'Shaughnessy is a principal and portfolio manager at O'Shaughnessy Asset Management.

All opinions expressed by Patrick and podcast guests are solely their own opinions and do

not reflect the opinion of O'Shaughnessy Asset Management.

This podcast is for informational purposes only and should not be relied upon as a basis

for investment decisions.

Clients of O'Shaughnessy Asset Management may maintain positions in the securities discussed

in this podcast.

My guest today is Michael Mobism, whose research on all aspects of investing is a treasure trove.

Michael is a managing director and head of global financial strategies at Credit Swiss.

In this wide-ranging interview, we discuss the current state of the Asset Management

business, explore all stages of the investment process, and consider what edges may still

exist for those trying to beat the market.

Please enjoy.

Thank you, Michael, so much for being here with me today.

I have to start by saying when I started in this business as an active manager, my first

role was to learn about investing and I was a philosophy major, so I didn't know much

at all.

I went to the bookstore and bought a bunch of books and the first two that I read, one

...