Michael Mauboussin discussed his book, More Than You Know: Finding Financial Wisdom in Unconventional Places, at MOI Global’s Meet-the-Author Summer Forum 2019. Michael serves as Director of Research of BlueMountain Capital Management.

Listen to this session:

audio recording

About the book:

Since its first publication, Michael J. Mauboussin’s popular guide to wise investing has been translated into eight languages and has been named best business book by BusinessWeek and best economics book by Strategy+Business. Now updated to reflect current research and expanded to include new chapters on investment philosophy, psychology, and strategy and science as they pertain to money management, this volume is more than ever the best chance to know more than the average investor.

Offering invaluable tools to better understand the concepts of choice and risk, More Than You Know is a unique blend of practical advice and sound theory, sampling from a wide variety of sources and disciplines. Mauboussin builds on the ideas of visionaries, including Warren Buffett and E. O. Wilson, but also finds wisdom in a broad and deep range of fields, such as casino gambling, horse racing, psychology, and evolutionary biology. He analyzes the strategies of poker experts David Sklansky and Puggy Pearson and pinpoints parallels between mate selection in guppies and stock market booms. For this edition, Mauboussin includes fresh thoughts on human cognition, management assessment, game theory, the role of intuition, and the mechanisms driving the market’s mood swings, and explains what these topics tell us about smart investing.

More Than You Know is written with the professional investor in mind but extends far beyond the world of economics and finance. Mauboussin groups his essays into four parts — Investment Philosophy, Psychology of Investing, Innovation and Competitive Strategy, and Science and Complexity Theory — and he includes substantial references for further reading. A true eye-opener, More Than You Know shows how a multidisciplinary approach that pays close attention to process and the psychology of decision making offers the best chance for long-term financial results.

About the author:

Michael Mauboussin is the Director of Research at BlueMountain Capital. Prior to joining BlueMountain, Mr. Mauboussin had been Head of Global Financial Strategies at Credit Suisse since 2013, where earlier in his career he had been an analyst and, subsequently, Chief U.S. Investment Strategist. From 2004 to 2013, he was Chief Investment Strategist at Legg Mason Capital Management. He is also a former president of the Consumer Analyst Group of New York and was named to the Institutional Investor All-America Research Team and The Wall Street Journal All-Star survey on multiple occasions. Mr. Mauboussin has been an adjunct professor of finance at Columbia Business School since 1993, and is on the faculty of the Heilbrunn Center for Graham and Dodd Investing. He is also chairman of the board of trustees of the Santa Fe Institute, a leading center for multi-disciplinary research in complex systems theory.