portfolio management

“A lot of quantitative analyses, I think, give people false sense of precision, and we provide a lot of quantitative statistics about our portfolio, but I also, I'm a firm believer that, you know, a lot of mistakes are made when you kind of take it to the neare…”

“Like, yeah, you probably are overconfident in your ability to Know what's actually going on in your portfolio, let alone know what's going on in the world.”

“I've intentionally separated research from portfolio management. And so we just don't have those discussions. It's much easier not to fall into those traps of defending something that's down too much or being gun shy about being asked about it if you never hav…”

“To be honest, I think it's really hard to ex ante Judge portfolio management and risk management skills with any great degree of confidence”

“The question I have to ask myself is, why are these two ideas better now than they were before because mathematically I'm saying they are by having them be a larger percentage of my capital. So I have to assess, is it actually better now? Should I keep them th…”

“And in long, short equity, I've seen a lot of people who, they're good at the analysis, they're good at saying this is a good company and that's a bad one. But populating a portfolio that actually produces outcomes, That's a totally different skill set, essent…”

“The thing you can see often is business analysis, research intensity. You can reference those things with peers and former colleagues and bosses. What you can't see are things like portfolio management and temperament.”

“It's better to be early than trying to time it. Once things find a catalyst, it happens. If you're running any size and scale, you won't be able to exit in a timely manner.”

“My biggest investment pet peeve is when people focus only on the investments themselves. They forget that that's just one third the job. Most of the alpha in the business of investing, I believe, comes from portfolio management and from risk management. These …”