Mike's notes.
Supported by Greenhaven Road Capital, finding value off the beaten path. If you aren’t familiar with Michael Mauboussin’s work the best introduction is this FT interview from 2017. Our notes will focus on his 2019 Invest Like the Best Podcast with Patrick O’Shaughnessy. … Stakeholders. One of the ILTB principles is that the podcast is… Continue reading Michael Mauboussin V
Supported by Greenhaven Road Capital, finding value off the beaten path. This is our fourth(!!) post from a Michael Mauboussin podcast. There were these; Michael Mauboussin and Michael Mauboussin from conversations with Barry Ritholtz, and one – Michael Mauboussin – from The Knowledge Project podcast. I think what appeals to me about Mauboussin’s interviews is… Continue reading Michael Mauboussin
Michael Mauboussin joined Barry Ritholtz on the Masters in Business podcast and I loved every minute of it. Mauboussin is great, and I’ve taken notes on some of his other conversations; Michael Mauboussin with Shane Parrish and another with Michael Mauboussin and Ritholtz. I saw a lot of tweets about this interview and someone said that what… Continue reading Michael Mauboussin 3
Michael Mauboussin (@MJMauboussin) is back, this time with Barry Ritholtz (@Ritholtz) on his Masters in Business podcast to talk about luck, skill, and alternate histories. The interview occurred in 2014 when Mauboussin was promoting his book, The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing Mauboussin also spoke with Shane Parrish (more… Continue reading Michael Mauboussin #2
This post is going to be a little different. I started this blog because of the quality of guests on the James Altucher podcast. There was just so much to learn from people like Ramit Sethi (episode #36), Gretchen Rubin (episode #97), and Peter Thiel (episode #43). But there are other great people to learn… Continue reading TKP Michael Mauboussin
One of the biggest ideas from 8 full years of writing this blog is Michael Mauboussin’s success equation. Outcomes are a mix of skill and luck. Persistence is a measure of skill: coaches making the playoffs, sales staff hitting targets, or personalities in the news. Skills are things which can – and should – be… Continue reading Will and Mike’s 2023 Advice
In the first post we jumped off with the idea that the S&P500 is an unbalanced collection of stocks. The top five companies, noted Carl Kawaja, generate 22% of the earnings, so why not only ‘bet on’ the best? This led to thinking about predictability. Chess is easier to predict than my morning pickleball game.… Continue reading Favorites or the field? (part two)
Maxim two, from Richard Zeckhauser, is “when you are having trouble getting your thinking straight, go to a simple case.” This maxim came to mind listening to Michael Mauboussin and the Acquired duo discuss business valuation and the difference between tangible and intangible assets. “(Intangible assets like brand, code, etc.) also makes you vulnerable. If… Continue reading Dice tails
One decision making suggestion is to start with the base rate, to find a set of comparable circumstances and ask, ‘what typically happens?’ In investing it is to find the price of, say Amazon, and ask how often a company of those characteristics grew at an expected percentage. Rather than start with the idea that… Continue reading Base rate and mean reversion structure
January 14, 2020. Double Jeopardy Daily Double: Jeopardy is incredibly instructive. It has come up a number of times on the blog. The best summary is the June 2021 NPR Planet Money podcast. First, Jeopardy is not a trivia game. Jeopardy is a television show. It’s a game within a game within a game within… Continue reading The many games of Jeopardy
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