The Intrinsic Value Podcast - The Investor’s Podcast Network
MI364: Lessons From Michael Mauboussin w/ Shawn O'Malley
Aug 12, 2024
Michael Mauboussin, author of 'More Than You Know,' teams up with Shawn O'Malley to unpack valuable insights about investment philosophy and market psychology. They discuss how the stock market functions as a complex adaptive system and the significance of having a clear investment process. Delving into the common traits of top investors, they explore how stress and biases can cloud judgment. The duo highlights the effects of innovation on markets and the importance of adapting strategies in the face of changing environments.
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Quick takeaways
- Multidisciplinary thinking is essential for investors, enabling them to challenge Wall Street norms and understand the market as a complex adaptive system.
- A strong investment philosophy fosters disciplined decision-making and helps investors focus on long-term success rather than short-term outcomes.
Deep dives
Multidisciplinary Thinking in Investing
Multidisciplinary thinking is emphasized as a vital approach to investing, enabling individuals to challenge conventional ideas prevalent on Wall Street. The speaker highlights how such diverse expertise can lead to a better understanding of the stock market as a complex adaptive system, driven by the interactions of countless participants. This viewpoint aligns with insights from the New England Complex Systems Institute, which categorizes economic behavior similarly to the dynamics of natural systems. By viewing the stock market through this lens, investors can appreciate its capacity for evolution and adaptation in response to global events.
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