Capital Allocators – Inside the Institutional Investment Industry

Scott Bessent - Macro Maven (EP.415)

238 snips
Nov 4, 2024
Scott Bessent, CEO and CIO of Key Square Group, is a seasoned global macro investor with an impressive career at Soros Fund Management. He shares insights on high-conviction investing and asymmetric asset selection, discussing the pivotal trade against the British pound that marked his career. Scott reflects on mentorship's crucial role in finance, likening investment strategies to chess, where strategic planning is key. He emphasizes the importance of risk management and position sizing in navigating market volatility, illustrating his visionary approach to macroeconomic factors.
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ANECDOTE

Journalism to Investing

  • Scott Bessent's interest in journalism led him to the Yale Daily News.
  • Not getting editor, he found an internship with Jim Rogers via a career notice.
ANECDOTE

Interning with Jim Rogers

  • Scott Bessent interned for Jim Rogers, doing research and spreadsheets.
  • Rogers, George Soros's original partner, emphasized researching major secular changes.
ADVICE

High Conviction Investing

  • Only invest in high-conviction trades.
  • Increase position size as conviction grows, like Ted Williams only swinging at strikes.
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