Podcasts

Learning from hedge funds’ billion dollar mistakes (podcast)

close

Email a Friend

Learning from hedge funds’ billion dollar mistakes (podcast)
In this week's episode of Tradestreaming Radio, we interview Stephen Weiss, author of the newish book, Billion Dollar Mistake: Learning the Art of Investing Through the Missteps of Legendary Investors. You can also find a full transcript of the show here. Weiss had a long-spanning career on Wall Street (Oppenheimer, Salomon, Lehman) where he covered many of the top hedge funds and even spent part of his career helping run Stevie Cohen's SAC Capital.  He took some great insights and made them even more interesting: by focusing on the mistakes top investors have made. We discuss:
  • Why mistakes are better learning experiences for investors than winners
  • Why passion is not an investment strategy and why Kirk Kerkorian loved American cars too much
  • How Omega Advisor's Leon Cooperman plays and manages risk in emerging markets
  • Why Bill Ackman made loot on Barnes and Noble ($BKS) but lost a ton on Borders ($BGP)
  • How these takeaways are applicable to individual investors
I really enjoyed this discussion with Weiss not only because it was an interesting view into the investing patterns of the world's best investors but he's distilled his experiences into a real discipline. One really compelling insight I think we can all take away from The Billion Dollar Mistake is that it's hard to discern whether successful trades were skillful or just lucky.  Trading losses provide an opportunity for investors to reckon their processes.

More Resources

Learn more about the book and Stephen Weiss

0 comments on “Learning from hedge funds’ billion dollar mistakes (podcast)”

Podcasts, The Customer Effect

How Gen Z likes to get paid with Amex, Wise, and DailyPay

  • Does Gen Z have different preferences and behaviors when it comes to getting paid?
  • In this episode of the podcast, we explore topics such as cross-border remittances, early wage access, and the evolving landscape of financial technology and services for Gen Z.
Zachary Miller | December 06, 2023
Podcasts

Tearsheet’s top 10 podcasts of 2023

  • What a year it's been -- from lingering COVID to bank failures to rising inflation and interest rates.
  • We track the year that was, through some of the top podcasts we published in 2023.
Zachary Miller | December 05, 2023
Podcasts

‘The Chief Data and Analytics Office is a team sport’: Vanguard’s Ryan Swann

  • Ryan Swann, Vanguard's Chief Data and Analytics Officer, champions the centralization of data analytics for business efficiency while highlighting the importance of diverse talent in innovation.
  • He envisions a convergence of offensive and defensive data strategies to enhance capabilities and reduce costs at Vanguard.
Zachary Miller | December 01, 2023
Podcasts

The state of bill pay with Solutions by Text’s Nick Babinsky

  • Consumers struggle with one-time payments, frequently forgetting to pay their bills on time.
  • Banks, billers, and payers can find success when simple texts are used as reminders and onboarding to payment flows.
Zachary Miller | November 29, 2023
Podcasts

‘If you can get Gen Z right, it’s going to build your bank for the future’: Citizens Bank’s Vice Chair, Brendan Coughlin

  • Regional banks like Citizens face a variety of challenges, from high interest rates to rising consumer expectations.
  • Brendan Coughlin, the bank's Vice Chair and head of consumer banking, joins us on the podcast to discuss how his firm is navigating the challenges and opportunities in this market.
Zachary Miller | November 21, 2023
More Articles