Description
Book SynopsisIn 10½ Lessons from Experience, Paul Marshall distils the experience of 35 years of investing, including over 20 years at Marshall Wace, the global equity hedge fund partnership. He describes the disconnect between academic theory and market practice, in particular the reality and persistence of 'skill' - the continuing ability of the best practitioners to beat the market. But he also underscores the prevalence of uncertainty and human fallibility, showing how a successful investment management business must steer a path which recognises both the persistence of skill and the pitfalls of cognitive bias, human fallibility and hubris.
Trade ReviewA diverse and entertaining work. [Paul] has an extraordinary ability to source a good idea from a hundred different places... There are plenty of reasons why we should be interested in hearing what Paul Marshall has to say. -- Christopher Walker * Investment & Pensions Europe *
What a brilliant book...way overdue! Serious investors need to read this! -- Dambisa Moyo, author of * Dead Aid *
Hedge fund titan charts a Quantamental future. * Bloomberg *
A bit of a gem. -- Patrick Hosking, Financial Editor * The Times *
A radical challenge to conventional wisdom on how modern financial markets operate. -- Dame Minouche Shafik, Director of London School of Economics
A terrific read....essential reading for portfolio managers. -- Jonathan Tepper, author of * The Myth of Capitalism *
