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Michael Mauboussin: Here’s what active managers can do

michael mauboussin, Credit Suisse, valuation and portfolio positioning, capital markets theory, competitive strategy analysis, decision making, skill versus luck, value investing, Legg Mason, The Success Equation, Think Twice: Harnessing the Power of Counterintuition, analysts, behavioral finance, More Than You Know: Finding Financial Wisdom in Unconventional Places, academics , valuewalkThe debate over active versus passive management continues as trends show the ongoing shift from active into passive funds. Q2 2020 hedge fund letters, conferences and more At the Morningstar Investment Conference, Michael Mauboussin of Counterpoint Global argued that the rise of index funds has made it more difficult to be an active manager. Drawing Read More

Stig & Preston are the #1 selling Amazon authors of the Warren Buffett Accounting Book. The book can be found at the following location:…


0:00we study billionaires in this is episode 74 of the investors podcast
0:21investing strategy your host Preston pish estate broker said hey how’s
0:36everybody doing out there this is Preston position on your host for the
0:39investors bought gas and as usual I’m accompanied by Michael those big
0:42brodersen out in Denmark and today we’re going to be doing another book written
0:46by a billionaire and this one is George Soros is booked and the name of this
0:51book is the alchemy of finance Stig I’m curious to hear your thoughts on the
0:56alchemy of finance I thought it was a pretty basic read something that was
1:00kind of obvious but pleased to hear your thoughts
1:04yeah I weren’t too crazy about it I gotta say the way that he was riding it
1:09was sometimes he was just a different wanna say he was rambling on cause it
1:13was a somewhat short book but it was like you really need to have her
1:16specific knowledge about special micro and macro economics because I love the
1:20books was about like by the comment theory was not correct but he really
1:26didn’t always explain the common theory so I think it was my main takeaway from
1:30that I thought it was a pretty basic books even those short it did go on
1:35kind of long you could have summarized it like a two or three peach white
1:38people in my personal opinion and I think the fancy name reflexivity is you
1:43know that’s the main theme of the book it’s pretty basic stuff and we’re going
1:47to Santa quickly cover this book were piling up and spend more than you know
1:51five or ten minutes on this and then we’re gonna move on into the second part
1:54of the show we’re going to be taking questions from the audience will
1:57probably play three or four questions from the audience in the episodes and
2:01that’s what we got for you so this book the alchemy of finance people that are
2:05familiar with George Soros I know his net worth is twenty three billion
2:08dollars he’s one of the wealthiest people in the entire world and he has an
2:13approach that he implements for investing in its very different than
2:16Warren Buffett or a lot of other Graham based value investors and Soros is
2:23obviously a macro investor
2:25and he makes these theories and he comes up with these ideas of what he thinks
2:30the market might do in a macro sense in the direction that I might move he comes
2:35up with that theory any test that theory in any kind of piles into a position as