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

From direct lending to embedded finance: Luke Voiles on Pipe’s evolving value proposition

  • Pipe's CEO Luke Voiles joins Tearsheet editor Zack Miller on the podcast to discuss the firm's move into embedded lending with its new Capital as a Service platform.
  • From his roles at Intuit, Square, and now Pipe, Luke shares his management style, approach to building world-class products, and how he handles work-life balance.
Zachary Miller | May 21, 2024
Podcasts

How MSU Federal Credit Union uses shopping incentives to get customers to engage beyond just checking their balances

  • Michigan State University Federal Credit Union partners with Prizeout to provide cashback rewards and drive digital engagement, replacing declining interchange revenue.
  • Listen in to our podcast with MSU FCU's Chief Innovation Officer, Ben Maxim, and Prizeout CTO, Brendan Grove to talk about how FIs are finding new ways to engage their customers.
Zachary Miller | May 14, 2024
Podcasts

Card Launch 101 (Live): Your ultimate guide to building and launching a successful card

  • Launching a card today requires clear planning, focused execution, and ongoing testing to make a card program really successful.
  • Join executives from Galileo, FNBO, and DailyPay as they discuss a playbook for successful card launch based on years of hard-earned experience and expertise.
Zachary Miller | May 07, 2024
Podcasts

Inside Vanguard’s CX modernization journey with Aaron Taylor, Personal Investor CIO, and Marco De Freitas, Head of CX and Digital

  • As Vanguard became more committed to modernizing its CX, it made key investments in its team, structures, processes, skillsets, and technology stack.
  • Leaders from the personal investment side of the business join us on the podcast to discuss how one of the largest asset managers in the world is aligning design with more positive customer outcomes.
Zachary Miller | April 29, 2024
Podcasts

MoneyLion’s maniacal mission of rewiring finance with Dee Choubey

  • Five years ago, MoneyLion was competing as a neobank, driven to deliver growth on its customer numbers. Since going public, Dee Choubey's firm has evolved into a platform.
  • The MoneyLion CEO joins us on the podcast to explain why seeing the firm as a neobank isn't accurate, where growth in the business is coming from, and his view of the future of banking.
Zachary Miller | April 25, 2024
More Articles