Talk Your Book: Matching Longs with Shorts

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 9 December 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Mick Rasmussen, Portfolio Manager at Wasatch Global Investors, to discuss how to construct a long/short portfolio, factors that make a good long vs a good short, how often the portfolio turns over, stock picking within small cap growth, and much more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email at [email protected] with any feedback, questions, recommendations, or ideas for future topics of conversation. Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ This podcast episode is sponsored by Wasatch Global Investors. The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, has received compensation, a flat fee, for featuring Mick Rasmussen, Portfolio Manager at Wasatch Global Investors, in this discussion. This compensation creates a conflict of interest, as it creates an incentive to present Wasatch Global Investors favorably. We encourage listeners to consider this information when evaluating the content presented. As of 9/30/24, Wasatch does not own any shares of Tesla and GameStop. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today's Animal Spirits Talk Your Book is brought to you by Wasatch Global.
0:04.6	Go to wasatchglobal.com to learn more about their Wasatch Long Short Alpha Fund,
0:10.4	ticker WALSX, which we're talking about on the show today. That's wasatchglobal.com.
0:17.4	Welcome to Animal Spirits, a show about markets, life, and investing.
0:21.6	Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.
0:26.8	All opinions expressed by Michael and Ben are solely their own opinion and do not reflect the opinion of Riddholz wealth management.
0:33.1	This podcast is for informational purposes only and should not be relied upon for any investment decisions.
0:38.9	Clients of Ridholt's wealth management may maintain positions in the securities discussed in this podcast.
0:47.0	Welcome to Animal Spirits with Michael and Ben.
0:50.2	Michael, I've always been really interested in the psychology behind people who are able to run long-short books and funds and strategies.
0:58.8	Because I feel like you have to be able to separate the two parts of your brain.
1:04.8	Because long-only people, they have this certain mindset.
1:08.6	I think even, like, you know, long-term, optimistic, glass
1:12.1	as have full. I feel like a lot of fixed-income people are glasses have empty because bonds are
1:17.1	there for the, as the anchor. But long-short, you have to have both of those abilities.
1:22.1	You have to, like, be able to fight through the cognitive dissonance. Long-short was a huge
1:26.3	category of hedge funds back in the day.
1:29.0	Right?
1:29.2	Like, this is what everybody wanted to be.
1:31.3	This was the sexiest strategy out there.
1:33.1	And they went through a really rough period as, I would say, like, valuations got disconnected.
1:37.8	But whatever the case was, it went through a really tough environment.
	...

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