Active Management Insights
Paul emphasizes the belief in persistent skill among investors, suggesting that failures often stem from personal character issues rather than a lack of ability. He critiques the academic assumption of market efficiency, arguing that it overlooks the complexities of human decision-making and cognitive biases that shape market outcomes. The conversation highlights the importance of collaborative decision-making to mitigate biases and better understand investment performance.In this clip
From this podcast
Capital Allocators – Inside the Institutional Investment Industry
Paul Marshall – 10 ½ Lessons from 23 years at Marshall Wace (Capital Allocators, EP.157)
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