Michael Mauboussin is head of global financial strategies at Credit Suisse. He began his career at Drexel Burnham Lambert in the 1980s through what he describes as a random stroke of good luck. He worked closely with Bill Miller, former chairman of Legg Mason Capital Management. He is also an adjunct at Columbia University School of Business.

Via Barry Ritholtz

Mauboussin was our fourth guest (about 100 episodes ago) — I hope this interview is an improvement on my first attempt.

The role of luck and randomness in the investing process has fascinated Mauboussin for years. Some of his earlier work looked at problems of cognitive bias and why investors find it so difficult to change their minds, even when presented with overwhelming evidence of error and failure. He is the author of numerous books, most recently “The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing.”

Michael Mauboussin

Interview With Michael Mauboussin: Masters In Business

You can hear the full interview, including the podcast extras, below, or by downloading the podcast at iTunes, Soundcloud or Bloomberg. All of our earlier podcasts can be found at iTunesSoundcloud and Bloomberg. (The show broadcasts all weekend on Bloomberg radio and SiriuxXM, at Friday at 9pm, Saturdays at 10am, 6pm, and 11pm, and Sundays at 3am).

Next week I’ll speak with Jeff Gramm, son of Senator Phil Gramm, and author of Dear Chairman: Boardroom Battles and the Rise of Shareholder Activism.