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Michael Mauboussin


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Michael J. Mauboussin is Head of Consilient Research at Counterpoint Global. Previously, he was Director of Research at BlueMountain Capital and Head of Global Financial Strategies at Credit Suisse, where he advised clients on valuation and portfolio positioning, capital markets theory, competitive strategy analysis, and decision making.
25 books on the list
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Red-Blooded Risk
The Secret History of Wall Street
Aaron Brown - Oct 11, 2011
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An innovative guide that identifies what distinguishes the best financial risk takers from the rest From 1987 to 1992, a small group of Wall Street quants invented an entirely new way of managing risk to maximize success: risk management for risk-takers. This is the secret that lets tiny quantitative edges create hedge fund billionaires, and define...
Michael Mauboussin
Feb 07, 2021
Here's a good summary of the conceptual difference between Harry (mean/variance) and Kelly (geometric mean maximization) as summarized by Aaron Brown in his book, Red-Blooded Risk.      source
Why Something We Never Evolved to Do Is Healthy and Rewarding
Daniel Lieberman - Jan 05, 2021
Goodreads Rating
If exercise is healthy (so good for you!), why do many people dislike or avoid it? These engaging stories and explanations will revolutionize the way you think about exercising--not to mention sitting, sleeping, sprinting, weight lifting, playing, fighting, walking, jogging, and even dancing."Strikes a perfect balance of scholarship, wit, and enthu...
Michael Mauboussin
Jan 28, 2021
I'm only a few chapters in but enthusiastically recommend Daniel Lieberman's book, Exercised. Very informative and entertaining. (His book, The Story of the Human Body, is also terrific.)      source
The Halo Effect
. . . and the Eight Other Business Delusions That Deceive Managers
Phil Rosenzweig - Jun 17, 2014 (first published in 2007)
Goodreads Rating
With two new chapters and a new preface, the award-winning book The Halo Effect continues to unmask the delusions found in the corporate world and provides a sharp understanding of what drives business success and failure.Too many of today’s most prominent management gurus make steel-clad guarantees based on claims of irrefutable research, promisin...
Michael Mauboussin
Dec 05, 2020
Not my idea - Delusion #7 from Phil Rosenzweig’s great book, The Halo Effect. It’s a short book that will change the way you think:      source
An Engine, Not a Camera
How Financial Models Shape Markets (Inside Technology)
Donald MacKenzie - Aug 29, 2008
Goodreads Rating
In An Engine, Not a Camera, Donald MacKenzie argues that the emergence of modern economic theories of finance affected financial markets in fundamental ways. These new, Nobel Prize-winning theories, based on elegant mathematical models of markets, were not simply external analyses but intrinsic parts of economic processes.Paraphrasing Milton Friedm...
Michael Mauboussin
Dec 04, 2020
@MylesUdland Great book!      source
The Psychology of Money
Timeless lessons on wealth, greed, and happiness
Morgan Housel - Sep 08, 2020
Goodreads Rating
Doing well with money isn't necessarily about what you know. It's about how you behave. And behavior is hard to teach, even to really smart people. Money--investing, personal finance, and business decisions--is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don't make financi...
Michael Mauboussin
Aug 17, 2020
Just finished The Psychology of Money by @morganhousel. A wonderful and wise book.      source
Measuring and Managing the Value of Companies (Wiley Finance)
McKinsey & Company Inc. - Jun 29, 2020 (first published in 1990)
Goodreads Rating
McKinsey & Company's #1 best-selling guide to corporate valuation--the fully updated seventh editionValuation has been the foremost resource for measuring company value for nearly three decades. Now in its seventh edition, this acclaimed volume continues to help financial professionals around the world gain a deep understanding of valuation and hel...
Michael Mauboussin
Jul 05, 2020
A lot to like in the McKinsey Valuation book, as always. But this section left me scratching my head. Investors have to deal with the world as it is, not the world as the wish it to be. @AswathDamodaran      source
Creating Shareholder Value
A Guide for Managers and Investors
Alfred Rappaport - Dec 01, 1997 (first published in 1986)
Goodreads Rating
Economist, consultant, and Wall Street Journal contributor Alfred Rappaport provides managers and investors with the practical tools and tests for a corporate strategy that creates shareholder value.The ultimate test of corporate strategy, the only reliable measure, is whether it creates economic value for shareholders. After a decade of downsizing...
Michael Mauboussin
Apr 17, 2020
@wolfejosh @bgurley My career was shaped by a book that one of my fellow trainees casually recommended I read because of a case study on Quaker Oat's acquisition of Stokely-Van Camp (which owned Gatorade, BTW). That book: Creating Shareholder Value by Alfred Rappaport.      source
Confessions of the Pricing Man
How Price Affects Everything
Hermann Simon - Oct 26, 2015
Goodreads Rating
The world s foremost expert on pricing strategy shows how this mysterious process works and how to maximize value through pricing to company and customer.In all walks of life, we constantly make decisions about whether something is worth our money or our time, or try to convince others to part with their money or their time. Price is the place wher...
Michael Mauboussin
Dec 21, 2019
@OmarIsmail_io I know of nothing specific but the best book I know on pricing is “Confessions of a Pricing Man.” The great @BluegrassCap told me about the book.      source
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Leo Polovets
The Outsiders
Eight Unconventional CEOs and Their Radically Rational Blueprint for Success
William N. Thorndike - Oct 23, 2012
Goodreads Rating
”It is impossible to produce superior performance unless you do something different.” — John TempletonWhat makes a successful CEO? Most people call to mind a familiar definition: a seasoned manager with deep industry expertise. Others might point to the qualities of today’s so-called celebrity CEOs—charisma, virtuoso communication skills, and a con...
Michael Mauboussin
Sep 26, 2019
3/Will Thorndike's book, "The Outsiders," was a deep influence on the prize and selection process. Stiritz called it a "classic" in his acceptance speech. It is, and should at the top of the reading list for CEOs and investors. Bonus: Will's a great guy.      source
Thinking in Bets
Making Smarter Decisions When You Don't Have All the Facts
Annie Duke - May 07, 2019 (first published in 2018)
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Poker champion turned business consultant Annie Duke teaches you how to get comfortable with uncertainty and make better decisions as a result.In Super Bowl XLIX, Seahawks coach Pete Carroll made one of the most controversial calls in football history: With 26 seconds remaining, and trailing by four at the Patriots' one-yard line, he called for a p...
Michael Mauboussin
Aug 16, 2019
An awesome book at an awesome price. Buy and read if you have not already!      source
More Heat than Light
Economics as Social Physics, Physics as Nature's Economics (Historical Perspectives on Modern Economics)
Philip Mirowski - Nov 29, 1991 (first published in 1989)
Goodreads Rating
This is a history of how physics has drawn some inspiration from economics and how economics has sought to emulate physics, especially with regard to the theory of value. The author traces the development of the energy concept in Western physics and its subsequent effect on the invention and promulgation of neoclassical economics, the modern orthod...
Michael Mauboussin
Jul 07, 2019
2/Phil Mirowski's book, More Heat than Light, is 30 years old but still fascinating. A complementary read to @ole_b_peters work on "the progenitors of neoclassical economic theory boldly copied the reigning physical theories in the 1870s."      source
COMPLEXITY by M. Mitchell Waldrop
Bad Blood by John Carreyrou
Billion Dollar Whale by Bradley Hope
Blueprint by Robert Plomin
She Has Her Mother's Laugh by Carl Zimmer
Who We Are and How We Got Here by David Reich
Why We Sleep by Matthew Walker
The Fear Factor by Abigail Marsh
Scale by Geoffrey West
Other Minds by Peter Godfrey-Smith
Behave by Robert M. Sapolsky
Superforecasting by Philip E. Tetlock
Thinking, Fast and Slow by Daniel Kahneman
Work Rules! by Laszlo Bock