Excess Returns
Show Us Your Portfolio: Mike Taylor | Inside the Investment Strategy of a Hedge Fund Veteran
Feb 7, 2025
Mike Taylor, a seasoned portfolio manager at Simplify’s PINK healthcare ETF, brings a wealth of experience from top hedge funds like Citadel and Millennium. He discusses the importance of having 'skin in the game' and shares insights on high-conviction investments. Mike's unique take on international investing and macro trends provides valuable lessons for navigating global economic challenges. He also reflects on the complexities of market dynamics, equity analysis, and even shares a personal passion for cars, intertwining financial wisdom with his interests.
01:05:14
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Quick takeaways
- Mike emphasizes the importance of having 'skin in the game,' aligning interests between portfolio managers and investors for improved performance.
- High-conviction investments require managing risks effectively, with positions that provoke a slight worry indicating sufficient commitment to the investment.
Deep dives
Skin in the Game
Portfolio managers who invest in their own funds create a stronger alignment of interests with their investors. One notable example illustrated that Mike Taylor, manager of Simplify's Pink Healthcare ETF, has a significant personal stake in the fund, treating it as his own investment. This creates added motivation for performance and accountability since he shares the same financial risks as his investors. In contrast, many other portfolio managers lack this personal investment, often leading to a focus on relative outperformance rather than substantial gains.
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