Michael Mauboussin Interview: What Investors can Learn From Poker

Michael Mauboussin Interview: What Investors can Learn From Poker
Darien Library Meet the Author: Michael Mauboussin (CC BY-ND 2.0) via Flickr

Michael Mauboussin is n expert in the field of behavioral finance and has some famous books on the topic including, Think Twice: Harnessing the Power of Counterintuition and More More Than You Know: Finding Financial Wisdom in Unconventional Places.

Mauboussin recently sat down with Foolish analyst Matt Koppenheffer to discuss his multidisciplinary approach to investing, and what investors can learn from poker games and horse races. He shares a multitude of outlooks and tips on valuation, luck vs. skill, competitive advantage, “exotic” investments, the critical distinction between fundamentals and expectations, and more.

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Matt KoppenhefferI’m here today with Michael Mauboussin, Managing Director and Head of Global Financial Strategies at Credit Suisse, also the author of numerous investing books, including More Than You Know, and The Success Equation. Michael, thank you so much for joining me today.

Michael MauboussinMy pleasure to be with you, Matt!

Koppenheffer: Let me start out … way back when, when I got my hands on More Than You Know, it changed a lot of the way that I felt about investing. One of the things I thought was really interesting is, you bring a very multidisciplinary approach to investing, and it reminds me a lot of the way Charlie Munger goes about it. Have you gotten a lot of your influence from Munger and the way he approaches?

full transcript here

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