After 24 episodes as a host, its my turn to be a guest on the podcast. Wouter Klijn and I chat about my career as a professional investor and adviser as principal and founder of Guiscard Capital. We recorded the podcast in December 2018 on the day that Guiscard Capital completed a capital raising. You can find out more about Guiscard Capital on our website.
Prior to launching Guiscard Capital, I spent 10 years working with Australian pension funds; most recently as a Portfolio Manager focused on asset allocation and multi-asset strategy. We talk about issues facing institutional investors as well as the challenges and opportunities of running your own business.
2:00 Who is the MarketFox?
7:20 Do you still find psychology applicable in finance?
11:00 Is swearing off emotions entirely a good idea?
13:00 Emotions and decision making
15:00 Institutional investors are far too focused on optimising
17:00 Attributes of good investors.
18:00 Self-awareness and group awareness
21:00 Starting a business out of frustration
25:00 Technology allowed me to start a business in a way I couldn’t 10 years ago
26:00 Optimisers are very sensitive to the assumptions you put in, so you get the answer that you want.
27:00 Too many marginal positions.
31:00 Finding a clients edge. An example in the property market
34:00 Risk appetite is context dependent
37:00 Managing expectations
40:00 Tips for investors in institutions and for entrepreneurs wanting to start their own advisory business
47:00 Asset management progresses one funeral at a time