TIP440: Beating the S&P500 since 2004 w/ Bryan Lawrence
We Study Billionaires - The Investor’s Podcast Network
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Navigating Investment Performance and Psychology
This chapter explores the internal rate of return (IRR) as a gauge of investment performance, comparing a specific firm's long-term results to the S&P 500. It discusses the importance of informational edge, patient capital, and the psychological challenges of managing stock positions, highlighting the emotional biases that can affect decision-making. Furthermore, it addresses the complexities of selecting the right asset manager, the alignment of interests, and the implications of fund management fees on investor outcomes.
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