Jaime Lester is a hedge fund industry veteran who has worked at firms such as Steinhardt Partners and David Einhorn’s Greenlight Capital. He is also an adjunct professor at Columbia Business School and has managed his own investment fund for nine years. We discuss his book “Pause to Think,” which is a compilation of thirty-two mental models. Jaime also applies these models to various frameworks, such as how to make better decisions and how to become happier.

For more info about the podcast, go to the episode page and make sure to follow us on X/Twitter. We love to hear your thoughts on what you like and what we can improve, so please give us your rating and a review. You’re also very welcome to tell us about great authors, books, and investors you want to hear on the show. Thank you! /Eddie & Niklas with team

This episode was recorded on January 22, 2025.

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Episode Chapters

(00:00) Introduction by Eddie & Niklas

(01:40) Welcoming Jaime

(03:09) Pause to Think

(07:51) Investing and science (focus on checklists)

(12:06) Cognitive biases

(19:30) Why learn about mental models?

(23:20) Inversion and investing

(29:54) Jaime’s experience from Greenlight Capital

(32:55) Cerrano Capital

(34:55) How Jaime is allocating his time today

(37:05) Current investment strategy

(39:22) Balancing personal life with work

(45:26) What can investors do to improve the world?

(48:07) Book discussions and recommendations

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Books Mentioned

• Pause to Think - Jaime Lester
• Same as Ever - Morgan Housel
• King: A Life - Jonathan Eig
• Creation Lake - Rachel Kushner

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More on Jaime

• Pause to Think (Amazon)
• Pause to Think (Columbia University Press)

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About the Podcast

Intro episode: https://www.redeye.se/podcast/investing-by-the-books/817383/0-intro-to-investing-by-the-books

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What is Investing by the Books?

Investing by the Books was founded by Henrik Andersson, Bo Börtemark, Mats Larsson and Michael Persson. It has published hundreds of book reviews in the past 10 years and operates on a non-profit basis.

Visit the website: http://www.investingbythebooks.com/

Follow on Twitter/X: https://twitter.com/Investbythebook

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What is Redeye?

Redeye is a research-centered boutique investment bank from Stockholm. Founded in 1999, Redeye cultivates investors through timeless knowledge, a humble attitude, and a strong focus on quality.

Visit the website: https://www.redeye.se/

Follow on Twitter/X: https://twitter.com/Redeye_

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Disclaimer

Notice that the content in this podcast is not, and shall not be construed as investment advice. This information is meant to be informative and for general purposes only. For full disclaimer, visit Redeye.se