Mauboussin: less is more
- abnormalreturns
- June 27th, 2011
Michael Mauboussin is a must-read around these parts. For example we were fans of his most recent book Think Twice. Recently Consuelo Mack hosted Mauboussin on WealthTrack. He makes the distinction between buy-and-hold and buy cheap-and-hold. He also mentions the “paradox of skill” and the fact that luck plays a big role in investing results. Successful investors need to have three main skills including: analytical skills and an awareness of the behavioral aspects of investing and a willingness to stray from the pack. Mauboussin also thinks the importance of dividends has been overemphasized for any number of reasons. All in all it is definitely worth a view. Cullen Roche at Pragmatic Capitalism also found the interview worth noting. Too bad this advice has not rubbed off on his Legg Mason colleagues…
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