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Clare Flynn Levy

Founder & CEO, Essentia Analytics · 1 appearance on the record.

computed by AI from the episodes · how this works → · full disclaimer →

founderexecutiveinvestorauthorLinkedIn ↗essentia-analytics.com ↗

Before founding Essentia Analytics to help fund managers eliminate behavioral biases using decision-attribution data, Flynn Levy spent a decade managing pension funds at Deutsche Asset Management and serving as founder and CIO of tech hedge fund Avocet Capital Management. She is also the co-author of the book Stock Market Maestros.

12statements → 4claims → 1claims resolved → 3.83/5average certainty → 2.08/5average debate potential → ≈4.5/5argument clarity, estimated → 1said about them ↓

1 supported 0 partly supported 0 contradicted 3 not checkable as stated how the 4 claims stand · each chip opens the sources

1 prediction · 3 assertions · 8 insights · every statement was checked. The prediction and assertions are the 4 claims: statements the public record can support or contradict. 1 is resolved, and 3 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Clare argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported
Flynn Levy: Disposition effect is less prevalent in professional managers than retail
“We definitely do sometimes see the disposition effect as an extension of the loss aversion point, so not just holding on losers for too long, but cutting winners early. Less prevalence in professional fund managers than in retail investors, though.”
Clare Flynn Levy Mar 12, 2018 ▶ 15:03 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Clare Flynn Levy on measured tape to publish a rate. This says nothing about how they speak.

Everything Clare Flynn Levy said on Capital Allocators that made the record, most notable first. Filter by type, assessment or year in the ledger →

Assertion Not checkable as stated
Flynn Levy: Nudge-prompted portfolio trades are usually more successful than normal trades
“And what we find is that they are more successful than your normal trades, usually.”
Clare Flynn Levy Mar 12, 2018 ▶ 24:47 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)
Insight
Flynn Levy: Contentious investment committee decisions often outperform unanimous ones
“And what we found so far is sometimes contentious decisions are the better decisions. For some people anyway, and for the first firm that we did this with, that was the case, which is, and particularly around whether, so when they would vote unanimously on som…”
Clare Flynn Levy Mar 12, 2018 ▶ 26:52 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)
Prediction Not checkable as stated
Flynn Levy: Managers who capture behavioral alpha will survive industry headwinds
“A lot of active managers will leave because it is getting so much harder to have a competitive advantage. But the ones who have behavioral alpha advantage, you know, where they actually are looking at their own behavior and saying, I want to continuously impro…”
Clare Flynn Levy Mar 12, 2018 ▶ 35:02 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)
Insight
Flynn Levy: Forcing portfolio managers to pause leads to better decisions
“What we find is that people's behavior changes, so when you do that, people do make a better decision, and it's not because we've told them what decision to make, it's because we've told them to pause and make a decision, whatever that decision is.”
Clare Flynn Levy Mar 12, 2018 ▶ 24:01 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)
Insight
Flynn Levy: Most active portfolio managers possess genuine underlying investment skill
“I see managers, it's like I look at x-rays all day long of different managers, and I see a lot of skill. It's quite rare that I see somebody where you're like, oh god, you should really find a different occupation. Usually there's something to work with”
Clare Flynn Levy Mar 12, 2018 ▶ 35:51 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)
Assertion Not checkable as stated
Flynn Levy: Most fund managers capitulate at bottoms due to loss aversion
“The vast majority of fund managers, not surprisingly, show evidence of loss aversion around exit timing when prices have been on a negative trend, or a positive one if they're short. So when the price is moving against you, the tendency is to hold on for too l…”
Clare Flynn Levy Mar 12, 2018 ▶ 13:33 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)
Assertion Supported
Flynn Levy: Disposition effect is less prevalent in professional managers than retail
“We definitely do sometimes see the disposition effect as an extension of the loss aversion point, so not just holding on losers for too long, but cutting winners early. Less prevalence in professional fund managers than in retail investors, though.”
Clare Flynn Levy Mar 12, 2018 ▶ 15:03 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)
Insight
Flynn Levy: Fund managers excel at contrarian entries but herd at tops
“You often see evidence of hurting around entry timing and that sort of, people are often very good at contrarian entry timing, catching it, you know, an inflection point quite well. But when something's been moving their way for a while, Take, say, a three-mon…”
Clare Flynn Levy Mar 12, 2018 ▶ 15:40 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)
Insight
Flynn Levy: Portfolio manager behavior is remarkably stable over time
“What's fascinating and sort of unexpected to me, having analyzed a lot of different portfolio managers' data going back long, you know, periods of time in some cases, is that people's behavior is very stable.”
Clare Flynn Levy Mar 12, 2018 ▶ 28:25 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)
Insight
Flynn Levy: Asymmetric payoff and consistency define fund management success
“The consistency with which they can get those decisions right, and the extent to which they can get the ones right really right, and the ones that get wrong only a little bit wrong, that is the key to success in fund management.”
Clare Flynn Levy Mar 12, 2018 ▶ 8:20 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)
Insight
Flynn Levy: Every equity investment decomposes into distinct sub-decisions
“No matter what you're doing, for any equity investment, you're making a picking decision, you're making an entry timing decision, you're making a decision about how big to go, and how quickly to get there, and adding and trimming decisions while you're in ther…”
Clare Flynn Levy Mar 12, 2018 ▶ 12:18 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)
Insight
Flynn Levy: Feedback loops decouple emotional failure from constructive decision learning
“If you start thinking about things in terms of feedback loops, then failure becomes a very valuable learning experience, and it gets easier and easier to separate the emotion of failing, you know, or getting something wrong from the learning, and recognize the…”
Clare Flynn Levy Mar 12, 2018 ▶ 39:57 Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)

The other half of the tape: Clare Flynn Levy's own voice is left out of every number here. Other people bring the name up 1 time in 1 episode on Capital Allocators. every mention, with the transcript →

Who brings them up most Melanie Pickett 1

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Appearances (1)

EpisodeDateSpeaking time
Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43) Mar 12, 2018 27m
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