In order to meet our most important goal -- delivering outstanding long-term performance to our clients -- our investment process embraces lessons culled from diverse sources such as science, nature, literature, sports, academic research and behavioral finance. Security markets are vibrant and complex systems, and we believe that investment management strategies must adapt and evolve to ensure continued success. We would like to share what we've learned with you.
The goal of the Thought Leader Forum is to introduce our clients to prominent non-traditional thinkers who have had a significant influence on our investment process. We believe that one of our critical competitive advantages is embracing mental models that lie beyond the traditional world of finance and investing. Come ignite your mind by exploring the transcripts of past forums.
Visit the websiteOur book club, On the Same Page, is one of the ways we share our philosophy of learning agility with our clients. The program not only enhances our individual knowledge, it also helps us to develop a common language and understanding. Books are selected from various fields to ensure a multidisciplinary curriculum. Our process is different than that of other investment firms and our commitment to constant learning and improvement is a key feature of that difference. More than just a book club, On the Same Page is an integral part of LMCM’s unique investment philosophy.
Previous titles include: The Flaw of Averages, Why We Underestimate Risk in the Face of Uncertainty by Sam L. Savage, Your Money and Your Brain, How The New Science Of Neuroeconomics Can Help Make You Rich by Jason Zweig,
The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies by Scott E. Page, The Halo Effect... and Eight Other Business Delusions That Deceive Managers by Phil Rosenzweig, Another Day in the Frontal Lobe by Katrina S. Firlik and The Origin of Wealth by Eric D. Beinhocker.
“Management should allocate capital effectively and treat shareholders fairly.”
Bill Miller, our co-founder and Chief Investment Officer, published this succinct directive in an article he wrote for Directors and Boards in 1991. Since then, our investment team has continued to engage companies, publish articles, and use its influence to promote these standards.
Our Chief Investment Strategist, Michael Mauboussin, offers his findings on concepts that we believe savvy investors should be considering today.
A Surge in the Urge to Merge
M&A: Trends and Analysis
January 12, 2010 - 
Read
See for Yourself
The Importance of Checking Claims
December 2, 2009 - 
Listen Read
Investment Committees
How to Build a Team to Make Good Decisions
September 1, 2009 - Listen Read
What Do We Need to Fix?
Protecting Against Ourselves
July 16, 2009 - Listen
Read
In Defense of Shareholder Value
Setting the Record Straight on What Shareholder Value
Really Means
June 4, 2009 - Listen
Read
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Founded in 1984, The Santa Fe Institute is one of the world’s leading scientific research laboratories which conducts multi-disciplinary research in complex systems theory.
This independent, non-profit organization has been an important partner in helping us refine our investment philosophy.