[REPLAY] Michael Mauboussin – Active Challenges, Rational Decisions and Team Dynamics (Capital Allocators, EP.36)
Capital Allocators – Inside the Institutional Investment Industry
Ted Seides – Allocator and Asset Management Expert
4.7 • 841 Ratings
🗓️ 19 February 2024
⏱️ 76 minutes
🧾️ Download transcript
Summary
Michael Mauboussin currently is the Director of Research at BlueMountain Capital, a multi-billion dollar hedge fund and asset manager. He spent the majority of his professional career thinking and writing about decision making, behavior and complex systems, with long stints at Credit Suisse and nearly a decade alongside Bill Miller at Legg Mason. Michael has been an Adjust Professor at Columbia Business School for 24 years.
Our conversation covers Michael's early career, the paradox of skill, academic research more favorable to active management, decision-making, optimal size and composition of teams, unsettling features in the market, data analysis in sports, career risk, the Santa Fe Institute, and Michael's new research on the horizon.
Every time I speak to Michael I come away thinking better and feeling smarter, and this time was no exception.
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Transcript
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| 0:00.0 | Capital allocators is brought to you by my friends at WCM Investment Management. |
| 0:07.5 | To outperform the markets, you have to do something differently from others. |
| 0:11.9 | In my 30-something years investing in managers, there may be no one I've come across who does that as clearly and as well as WCM. |
| 0:20.0 | I've seen it up close as an investor in their |
| 0:22.3 | international growth strategy for the last five years. WCM is a global equity investment manager |
| 0:28.9 | majority owned by its employees. They believe that being based on the West Coast, away from |
| 0:34.7 | the influence of Wall Street Groupthink, provides them with the freedom |
| 0:37.9 | to live out their investment team's core values, think different, and get better. |
| 0:43.7 | As advocates of integrating culture research into the investment process and advancing |
| 0:48.3 | wide moat investing with the concept of moat trajectory, WCM has delivered differentiated returns while building concentrated |
| 0:56.2 | portfolios designed to stand out from the crowd. |
| 1:00.2 | WCM is committed to defying the status quo by dismantling outdated practices, believing |
| 1:06.2 | in the extraordinary capabilities of its people, and fostering optimism to inspire each individual |
| 1:12.2 | to become the best version of themselves. To learn more about WCM, visit their website at WCMinvest.com. |
| 1:21.3 | And tune in to this slot on the show to hear more about WCM all year long. |
| 1:26.9 | This testimonial is being provided by Ted Sides and capital allocators who have been compensated a flat fee by WCM. His payment was made in connection with capital allocators' testimonial and production of podcasts, and does not depend on the success or level of business generated. The opinions expressed are solely those of capital allocators and may not reflect the opinions of others. Investing involves risk, including the possible loss of principle. Past performance is not indicative of future results. Please visit wcminvest.com for WCM's ADV and further |
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