Capital Allocators – Inside the Institutional Investment Industry George Michelakis – Chess Master’s Approach to Long-Short Equity at Gladstone (EP.362)
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Jan 15, 2024 George Michelakis is the Chief Investment Officer of Gladstone Management, a London-based hedge fund with a strong track record. He shares fascinating insights on the parallels between chess tactics and long-short equity investing, emphasizing patience and calculated risks. Michelakis discusses his unique transition from chess master to fund manager, the vital need for a performance-oriented culture, and how adaptability plays a crucial role in finance. He also delves into the intricacies of market inefficiencies and the psychological factors influencing investment decisions and outcomes.
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Chess Journey
- George Michelakis, reflecting on his youth, recalls his chess journey.
- He became the South African champion, placed third in the World Under-20 Championship, and even experienced a coup d'état in Armenia.
Path to Finance
- George Michelakis's path to finance was influenced by his university friend, Roelof Botha.
- They discussed their career aspirations, leading Michelakis to private equity and Botha to Sequoia.
Public Markets Appeal
- Michelakis transitioned from private equity to public markets because of the faster feedback loop.
- Public markets offered more opportunities to use his knowledge and a steady flow of situations to capitalize on.