Coburn Ventures Podcast #233: The Five Mantras of Active Investing
Jul 10, 2025
The discussion revolves around five key mantras that define successful active investing. Insights are shared on how to identify market inefficiencies and structural arbitrages that are often overlooked. The value of unique perspectives and effective portfolio management takes center stage. Emphasis is placed on integrating uncommon inputs for better decision-making, highlighting the power of routine and mindfulness in investing. The conversation wraps with a fun take on sports psychology, bringing a lighthearted twist to serious investment strategies.
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Work To Your Base
- Pip recalls a wrestling coach shouting, "If you're in trouble, work to your base" to stay grounded.
- He uses this as a metaphor for investing: return to core principles when markets get chaotic.
Test Efficient Market Assumptions
- Active investors must challenge efficient market assumptions to justify charging fees above passive options.
- Test those assumptions deeply to find real holes where active work can add measurable value.
Exploit Structural Arbitrages
- The market contains hundreds of structural arbitrages like understanding management or change that can be exploited.
- Focus on three or four structural arbitrages to develop repeatable advantages rather than scattering effort.