Word: thinks
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Dates: during 2000-2009
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...Mason Capital Management, Michael Mauboussin's job is to understand the world and then make money off of it. What he's found over the years is that investors, like any other group of people, are prone to make mistakes that stem from faulty approaches to decision-making. In Think Twice: Harnessing the Power of Counterintuition, Mauboussin - also an adjunct professor of finance at Columbia Business School - pulls from fields such as psychology, statistics and complexity science to explain how we might do better. TIME's Barbara Kiviat spoke with...
...approach investing differently, knowing what you do about the psychology of decision-making? One theme is contemplating different outcomes and attaching probabilities to those. There is this notion called the inside-outside view. The inside view, which is how almost all of us plan, is that when you're thinking about the future, you gather all the information around you and do your analysis and go from there - whether you're launching a new product, putting an addition onto your house or forecasting the markets. The outside view asks the question, what happened when other people were in this situation...
Well, honesty never goes unpunished. Could you give me a good reason then why investors wouldn't be better off with index funds? By and large, investors would be better off with index funds. The question to me is, if you are an active manager, what makes you think you can do better than others over time? We like to think about four distinct building blocks. One is thinking about capital markets more properly. Sometimes markets are efficient and sometimes they aren't. The insight is knowing what mechanisms lead you from efficiency to inefficiency. The second is being very...
Quotes By: •"I don't think I would let myself be intimidated or overcome by anybody. I think I could have prevented it." - On his "tremendous feeling of guilt" for being in London instead of at home when Sharon Tate was murdered. Playboy, December...
...There was no plot against me. There was no setup. It was all my fault. I think that my wrongdoing was much greater than Bill Clinton's." - On having sex with a 13-year-old in 1977. Esquire, December...