Peter Pham: Inversion Investing

Jan 26, 2024

Peter Pham, a unique investor with a different type of conversation, discusses topics such as overcoming biases, inversion investing by betting on the US dollar, analyzing market highs and lows, exploring the macro economy and societal trends, and communicating and creating a unique brand. The podcast also delves into the rise and fall of China and India as superpowers, using broad knowledge for informed trading decisions, and the intriguing story of the last alchemist.

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ADVICE

Trade With Falsifiable Probabilities

Use falsifiable, probabilistic theses rather than unfalsifiable narratives when risking capital.
Measure outcomes and stop defending ideas that cannot be tested or shown wrong.

INSIGHT

Contrarian Narratives Reveal Incentives

Identify contrarian or inverted narratives as potential signals rather than emotional calls to simply buy bottoms.
Treat conspiratorial thinking as a lens to uncover human incentives and possible mispriced assets.

ADVICE

Three-Filter Trade Checklist

Follow three filters: contrarian signal, activism (or passive activism), and relative price strength before committing capital.
Only take trades where the narrative, bid activity, and price action align.

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I hope you enjoy this podcast with Peter Pham of Inversion Investor. Peter is one of the most unique investors I've come across.

The way he thinks about the world, markets, trades, and wisdom is unlike anything I've seen before in finance.

This is definitely a different type of conversation. We cover a ton of ground, spanning myriad topics and thousands of years of history.

I hope you enjoy it.

Finally, a big thanks to the following sponsors for making the podcast a reality.

Mitimco

This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠⁠emergingmanagers.org⁠⁠⁠⁠, a website for emerging manager stockpickers.

For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more!

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