Episode · Invest Like the Best · 2021-06-01
Patrick O'Shaughnessy & Dennis Lynch: books mentioned on Invest Like the Best #228
Dennis Lynch - Delivering Alpha in Adapting Markets - [Invest Like the Best, EP. 228]
My guest today is Dennis Lynch, Head of Counterpoint Global, where he oversees over $100bn in AUM and boasts one of the strongest track records of any public investor.
Dennis Lynch recommended The Money Game by George J. W. Goodman and Moneyball by Michael Lewis, discussed The Little Book That Beats the Market by Joel Greenblatt and Antifragile by Nassim Nicholas Taleb, and read The Ethical Algorithm by Michael Kearns and others for a book club. Patrick O'Shaughnessy discussed Expectations Investing by Michael J. Mauboussin and others.
Books mentioned, in the order they came up
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The Money Game
The Money Game by George J.
Recommended“starting as far back as like The Money Game, which is a fun book from the 70s that sort of gives you a perspective on what it can be like to be a public investor and the volatility that goes along with that.”
Where to get it
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Moneyball
Moneyball by Michael Lewis is a bestselling non-fiction book examining how the Oakland Athletics baseball team used data-driven analytics and mathematical models to compete against wealthier franchises.
Recommended“I mean, things like Moneyball is a great look at how to take a different approach or different analytical view of what other people have conventionally already sorted through and maybe made mistakes in the process.”
Where to get it
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The Ethical Algorithm
The Ethical Algorithm by Michael Kearns and Aaron Roth explores the integration of fairness, privacy, and accountability into modern artificial intelligence and machine learning systems.
Book club“We all read a book called The Ethical Algorithm by Michael Kearns last year as part of our book club. He came in and we're talking about sort of the benefits of AI and or algorithmic approaches to the market.”
Where to get it
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Expectations Investing
Expectations Investing by Michael J.
Discussed“I was just reading the latest update to Michael's book, Expectations Investing, which was so fun for me because it was actually literally the first investing book that I read that I would consider of consequence that started to shape my worldview 15 years ago.”
Where to get it
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The Little Book That Beats the Market
Discussed“I think not soon thereafter, maybe in the mid-2000s, Joel Greenblatt wrote a book called Little Book That Beats the Market that was sort of a very basic ROIC type of calculation or sorted large population stocks based on like ROIC-esque calculation and some sort of free cash flow-esque metric.”
Where to get it
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Antifragile
Antifragile by Nassim Nicholas Taleb explores how certain systems, leaders, and organizations not only survive shocks and volatility but actually improve because of them.
Discussed“You think about the anti-fragile framework and the scene to lab. And, you know, I really like that. It shows the power of language to do. In that book, he talks about the fragile and what people think.”
Where to get it
Other mentions in this episode (1) — ad reads, self-promotion and passing references, never counted
“If you think about the big short, which is an awesome story and awful time, but people certainly enjoy the story behind the willingness to be different of the people like Michael Burry, etc. The reality is they made a very specific bet”