"In investing there are many ways to fail but there are many ways to succeed too

Michael Mauboussin, head of Global Financial Strategies at Credit Suisse

Published 9 years ago on Feb 02, 2013 12 minutes Read
Mark Manley

Michael Mauboussin seems perfectly suited to a career in Hollywood — he’s tall, fair and drop-dead good looking. Instead, the 48-year-old chose to teach at Columbia Business School, write bestselling behavioural finance tomes and make apparently intelligent people swoon, not necessarily in that order. Mauboussin started his career as a packaged food sector analyst and was until recently the chief investment strategist at Legg Mason, the firm made famous by Bill Miller’s 15-year S&P 500 beating streak. For this interview, he agrees to come down to New York from Connecticut where he lives. And what better quintessentially New York place for a free-wheeling conversation than the 843-acre Central Park? We locate a convenient bench overlooking a baseball diamond and Mauboussin shares his thoughts about the stock market. He also expounds on the role of skill and luck in sports, investing and life — the subject matter of his latest book, The Success Equation.