Michael Mauboussin: Finding Easy Games

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5 • 775 Ratings

🗓️ 25 January 2022

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

The author and financial expert discusses 'expectations investing,' the problem he sees with valuation multiples, the outlook for active investing, and more.

Transcript

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0:00.0	At Jackson, we've created a digital retirement planning experience with you and mine.
0:05.5	Visit jackson.com to explore our easy-to-understand resources and user-friendly tools
0:10.1	that are designed to enable financial professionals and clients to plan a path to financial freedom.
0:15.5	Jackson is short for Jackson Financial Incorporated, Jackson National Life Insurance Company, Lansing, Michigan,
0:20.5	and Jackson National Life Insurance Company of New York.
0:23.3	Purchase New York.
0:26.5	Please stay tuned for important disclosure information at the conclusion of this episode.
0:32.6	Hi, and welcome to the Longview.
0:34.3	I'm Jeff Battack Chief Writs Officer at Morningstar Research Services.
0:38.1	And I'm Christine Ben's Director of Personal Finance and Retirement Planning for Morningstar.
0:42.8	Our guest this week is Michael Mobison. Michael is the head of conciliant research at Counterpoint Global.
0:48.6	Before joining Counterpoint Global in January 2020, Michael was Director of Research at Blue Mountain Capital Management,
0:56.2	and prior to that held research leadership roles at Credit Suisse and Leg Mason Capital Management.
1:02.2	Michael is the author of three books, including The Success Equation, Untangling Skill and Luck in
1:07.7	Business, Sports and Investing, and is also co-author with Alfred Rappaport
1:13.2	of expectations investing, reading stock prices for better returns. He's been an adjunct professor
1:19.6	of finance at Columbia Business School since 1993 and is on the faculty of the Heilbrun Center for
1:26.3	Graham and Dodd investing. Michael's also chairman emeritus of the Board of faculty of the Heilbrun Center for Graham and Dodd investing.
1:28.4	Michael's also chairman emeritus of the Board of Trustees of the Santa Fe Institute.
1:33.3	He received his bachelor's degree from Georgetown University.
1:37.0	Michael, welcome to the Longview.
1:39.2	Jeff, great to be with you and Christine today.
	...

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