position sizing

6 statements across 6 episodes · 1 bullish · 3 bearish · 4 people on the record · first statement Mar 5, 2018 by Basil Qunibi · across every show →

Everything said about position sizing, oldest first

Mar 5, 2018 bullish

Assertion Not checkable as stated

Skilled position sizing can add 900 basis points annually to returns

“And some Managers generate something like 900 basis points a year of excess return to their equally weighted portfolio.”

Basil Qunibi Mar 5, 2018 ▶ 28:34 Basil Qunibi - Moneyball for Allocators (Capital Allocators, EP.42)

May 13, 2019

Insight

Mauboussin: Position Sizing Drives Portfolio Performance More Than Stock Picking

“Like, you and I can have the exact same 25 stocks, but what we know is how we size our positions will have A huge impact on how our portfolio performs over time.”

Michael Mauboussin May 13, 2019 ▶ 22:48 Michael Mauboussin – Who's on the Other Side (Capital Allocators, EP.99)

Mar 23, 2020 negative

Assertion Supported

Mauboussin: Portfolio managers underperform by ignoring their own position sizing rules

“Even there's some evidence if you ask portfolio managers to write down Ex ante, what rules they should follow to size their positions. A, they don't follow those rules, and B, there's evidence that they did follow their own rules, they would do better than the…”

Michael Mauboussin Mar 23, 2020 ▶ 37:27 Michael Mauboussin – Consilient Observations in a Crisis (Capital Allocators, EP.127)

Dec 2, 2021 neutral

Disclosure

Cook: Sunriver generates alpha from selection and sizing, not tactical trading

“It really showed that we're adding a lot of value in security selection and a large amount of value in Sizing and really not much value in trading at all. Good news was we weren't destroying value in trading, but we weren't adding a lot of value in trading.”

Will Cook Dec 2, 2021 ▶ 43:39 Will Cook - Sunriver Management (Manager Meetings, EP.22)

Feb 19, 2024 negative

Insight

Mauboussin: Fundamental investors lack structured, quantitative position sizing

“I think most fundamental investors have some sense of why their position sizes are what they are, but in a sense, they're not quantitative or they're not completely structured.”

Michael Mauboussin Feb 19, 2024 ▶ 15:23 Michael Mauboussin - Pattern Recognition and Public Markets (EP.370)

Mar 2, 2026 negative

Insight

Baker: Extreme single-stock concentration turns a fund into a single stock

“If you have a 35% position in one stock, and then your second position is three or five percent, you're not a fund, you're a stock.”

Gavin Baker Mar 2, 2026 ▶ 49:08 Gavin Baker – Truth-Seeking and Crossover Investing at Atreides (EP.489)

position sizing

Everything said about position sizing, oldest first

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