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

‘It’s not just about a QuickBooks integration — you have to look at the business problem’: Codat’s Peter Lord

  • Codat zeroes in on small business financial data, which is a very different problem to solve than aggregating consumer data.
  • Peter Lord, CEO of Codat, joins us on the podcast to discuss the evolution of use cases for SMB financial data that he’s seen over the past 5 years of running Codat.
Zachary Miller | October 05, 2022
The Green Finance Podcast

The Green Finance Podcast Ep. 10: Tangible steps banks can take to help their customers lower their carbon footprint

  • The majority of people want to know more about the environmental impact of how they spend their money and want their banks to help them take action and reduce their environmental impact.
  • I'm talking about this today with my guest Emma Kisby, UK & Europe CEO of Cogo - a company that provides carbon footprint management products.
Iulia Ciutina | September 30, 2022
Where Credit's Due Podcast

Where Credit’s Due Ep. 10: Getting capital without dilution or debt through recurring revenue financing, with Pipe and Anthemis

  • Today we're talking about another way of accessing capital: recurring revenue financing. If there's cash flow coming in, this recurring revenue is made into a tradable asset that can be sold to investors.
  • It's a dilution-free and debt-free form of financing, which we explore in detail with Michal Cieplinski, Chief Business Officer at Pipe, and Farhan Lalji, Investor at Anthemis.
Iulia Ciutina | September 28, 2022
Podcasts

Behind Amex’s use of Kabbage as ‘the heartbeat’ of its strategy to help SMBs with cash flow

  • Two years after American Express bought small business lender Kabbage, the products are integrated and growing.
  • Tearsheet sat down with Kabbage's head of marketing to get insight on where the growth is coming from and where the company is headed.
Zachary Miller | September 27, 2022
Payments, Power of Payments Podcast

Power of Payments Ep. 14: JPMorgan vs Stripe and Block, CFPB is coming for BNPL, and is LTO a viable BNPL alternative?

  • This week, we talk about JPMorgan’s acquisition of payments firms Renovite, and the CFPB’s recent report on BNPL firms, which suggests that regulation is coming for the sector.
  • We also discuss why lease-to-own, which is another type of installment payment option, has been gaining popularity in recent months.
Ismail Umar | September 23, 2022
More Articles