Michael Mauboussin on Skill and Luck
This week on our Masters in Business podcast we interview Michael Mauboussin, head of global financial strategies at Credit Suisse.
The role of luck and randomness in the investing process has for years fascinated Mauboussin, who began his career at now-defunct Drexel Burnham Lambert in the 1980s. Some of his earlier work looked at the problems of cognitive bias and why investors find it so difficult to change their minds, even when presented with overwhelming evidence of error and failure. He is the author of numerous books on investing, most recently “The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing,” and is an adjunct professor at Columbia University’s School of Business.
Incidentally, Mauboussin was our fourth guest on the Masters in Business series about 100 episodes ago; we cover new ground in this interview (which I hope is an improvement on my first attempt).
You can hear the full interview, including the podcast extras, below, or by downloading the podcast at iTunes, Soundcloud or Bloomberg. All of our earlier podcasts can be found at iTunes, Soundcloud, and Bloomberg.
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