Monthly Archives: March 2020

Michael Mauboussin on Relative Skill

A few years ago Michael Mauboussin published a paper on what makes for successful investing. Success in investing has two aspects. The first is skill, which requires you to be technically proficient. Technical skills include the ability to find...

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Valuations at Stanford Endowment

The school’s investment office shared in their latest report that they are investing in fewer fund managers. SMC [Stanford Management Company] primarily relies on carefully chosen external partners to select individual securities, allowing...

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David Swensen on Bankers

A few years ago, the business school held a panel on finance and its influence on society. One of the panelists was David Swensen and he shared his distaste for bankers. Let me pick up on Bob’s [Professor Robert Shiller] comment that there’s a...

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