Michael Mauboussin – Active Asset Management [invest Like The Best, EP.02]via  The Investor’s Field Guide

In this episode, Michael Mauboussin and I discuss everything about asset management: the state of the industry, the active investment process, and Michael’s  simple but genius “input/output” method for daily life. This is a full seminar on asset management. It was an awesome conversation.

Be sure to check out all of Michael’s research and his four books, which are linked below. I especially enjoyed his book Expectations Investingwhich is mercifully now available on kindle.

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Michael Mauboussin

Michael Mauboussin

Books & Resources Mentioned in this Conversation

New Mauboussin Paper: Capital Allocation – Updated Evidence, Analytical Methods, and Assessment Guidance

Freestyle Chess

Reflections on the Ten Attributes of Great Investors (this is a must-read paper by Mauboussin)

(1:31) Contrarian Investment Strategies – David Dreman

(1:38) Expectations Investing – Alfred Rappaport and Michael Mauboussin

(7:05) The Nature of Value : How to Invest in the Adaptive Economy – Nick Gogerty

(16:33) Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor – Seth Klarman

(26:39) – Creating Shareholder Value: A Guide for Managers and Investors – Al Rappaport

(54:58) – The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success – William Thorndike

(1:08:18) – Beat the Dealer: A Winning Strategy for the Game of Twenty-One – Ed Thorpe

(1:30:04) – Thinking, Fast and Slow – Daniel Kahneman

(1:31:42) – The Story of the Human Body: Evolution, Health, and Disease – Daniel Lieberman

See Transcript here Aabd nire  The Investor’s Field Guide