Jim O'Shaughnessy, an investor and entrepreneur known for his quantitative value investing expertise, dives into an array of fascinating topics. He examines the revolutionary impact of AI in ventures and the gaming industry, particularly through the lens of the game Go. O'Shaughnessy highlights the power of optimism and innovation, referencing historical bets that showcase human ingenuity. He also discusses curating literature to influence AI's outlook, while emphasizing the intersection of finance history and tech advancements in shaping the future of investing.
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Emergent AI Strategies
AI trained solely on game rules, like AlphaGo, can develop novel strategies.
These strategies, unlike brute-force methods, can surpass human expertise by exploring unintuitive moves.
question_answer ANECDOTE
Kasparov's Suspicion
Kasparov suspected human interference in Deep Blue's unusual move, thinking experts had overridden the top recommendation.
This now seems amusing given AI's current superiority, highlighting past skepticism.
insights INSIGHT
AI's Unique Perspective
AI's distinct processing, including access to liminal spaces, offers collaborative potential.
Embrace AI's unique perspective to see blind spots and uncover hidden opportunities.
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Patrick O'Shaughnessy's "Invest Like the Best" is a compilation of interviews with some of the world's most successful investors. The book explores a wide range of investment philosophies and strategies, offering insights into the decision-making processes of these experts. O'Shaughnessy delves into various topics, including value investing, growth investing, and behavioral finance. The book provides a diverse perspective on the investment world, highlighting the importance of adaptability and continuous learning. It's a valuable resource for investors seeking to expand their knowledge and refine their investment approach.
The Half-Life of Facts
Samuel Arbisman
Alchemy
The Dark Art and Curious Science of Creating Magic in Brands, Business and Life
Rory Sutherland
In this book, Rory Sutherland explores the art and science of creating magic in brands, business, and life. He combines scientific research with entertaining stories and case studies from his career, including campaigns for AmEx and Microsoft. Sutherland emphasizes the importance of understanding human behavior, highlighting how decisions are often influenced by subtle external signals rather than objective qualities. The book challenges traditional marketing strategies by advocating for a more holistic and creative approach, using techniques such as storytelling, social proof, and framing to influence consumer decisions. It also explores how these principles can be applied to various social aims beyond just selling products.
The Ultimate Resource
Julian Lincoln Simon
In this book, Julian Simon argues against the notion that humanity is running out of natural resources. He contends that as resources become scarcer, their prices rise, creating incentives for people to discover more resources, ration and recycle them, and develop substitutes. Simon believes that human creativity and innovation are the ultimate resources, enabling economic growth and improving living standards despite population growth. The book also discusses historical precedents of unfounded environmental fears and includes a famous wager with Paul Ehrlich that demonstrated the decline in real prices of commodity metals over time[1][2][3].
Adventures of a bystander
Peter Drucker
This book is a rich collection of autobiographical stories and vignettes by Peter F. Drucker. It paints a portrait of his remarkable life and the larger historical realities of his time, from his early teen years in Vienna through the interwar years in Europe, the New Deal era, World War II, and the postwar period in America. Drucker introduces readers to a diverse group of individuals, including Sigmund Freud, Henry Luce, Alfred Sloan, John Lewis, and Buckminster Fuller, who reflect and refract the customs, beliefs, and attitudes of the times. The book sheds light on a turbulent and important era and reflects Drucker's imaginative sympathy and enormous interest in people, ideas, and history.
Small Is Beautiful
A Study of Economics As If People Mattered
E. F. Schumacher
Published in 1973, 'Small Is Beautiful' critiques mainstream economics by advocating for sustainable development, small-scale technologies, and community-centered economic policies. The book is divided into four parts: 'The Modern World', 'Resources', 'The Third World', and 'Organization and Ownership'. Schumacher argues that economic growth must be balanced with the needs of communities and the environment, and he introduces the concept of 'Buddhist economics', which emphasizes human needs and limitations. The book has been highly influential, inspiring movements such as 'Buy Local' and 'Fair Trade', and was ranked among the 100 most influential books since World War II by 'The Times Literary Supplement'.
MANIAC
Benjamín Labatut
Two Thoughts
Jim O’Shaughnessy
Vatsal Kaushik
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, and Jake Taylor. See our latest episodes at https://acquirersmultiple.com/podcast
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Hi, I'm Tobias Carlisle. I launched The Acquirers Podcast to discuss the process of finding undervalued stocks, deep value investing, hedge funds, activism, buyouts, and special situations.
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Tobias Carlisle is the founder of The Acquirer’s Multiple®, and Acquirers Funds®.
He is best known as the author of the #1 new release in Amazon’s Business and Finance The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market, the Amazon best-sellers Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014) (https://amzn.to/2VwvAGF), Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012) (https://amzn.to/2SDDxrN), and Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors (2016) (https://amzn.to/2SEEjVn). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law.
Prior to founding the forerunner to Acquirers Funds in 2010, Tobias was an analyst at an activist hedge fund, general counsel of a company listed on the Australian Stock Exchange, and a corporate advisory lawyer. As a lawyer specializing in mergers and acquisitions he has advised on transactions across a variety of industries in the United States, the United Kingdom, China, Australia, Singapore, Bermuda, Papua New Guinea, New Zealand, and Guam.
He is a graduate of the University of Queensland in Australia with degrees in Law (2001) and Business (Management) (1999).
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