The Best Investment Writing Rob Campbell, Mawer – Dead Reckoning: Investing Lessons from the High Seas
14 snips
May 20, 2025 
Rob Campbell, an institutional portfolio manager at Mawer Investment Management, shares insights inspired by maritime navigation. He draws parallels between the challenges faced by sailors and investors, emphasizing the need for discipline and strategic planning. Campbell explores historical lessons, the importance of questioning dominant narratives, and the intricacies of valuation. He underscores maintaining high-quality investment models and a margin of safety while navigating uncertainty, making for a compelling discussion on sound investment strategies.
AI Snips
Chapters
Books
Transcript
Episode notes
Cape Horn Dead Reckoning Tale
- Cape Horn's treacherous seas illustrate dead reckoning's risks in navigation and investing.
- HMS Wager's 1741 shipwreck shows how imprecise positioning led to disaster despite best efforts.
Invest with a Clear Philosophy
- Maintain a clear investment philosophy and systematic process to navigate uncertainty.
- Use your investing philosophy as a North Star to provide focus and discipline.
Small Errors Magnify Over Time
- Small errors in assumptions magnify greatly over time and distance in investing.
- Like long putts, minor navigation errors can cause large deviations from intended outcomes.
