Indexing, Active Risk Budget, and New Flows

Nicolai Tangen is the CEO of Norges Bank Investment Management, the world’s largest sovereign wealth fund. He is responsible for managing $2.1 trillion. That's roughly 1.7% of every listed company on earth.

In this episode, we explore the intersection of massive wealth, high-speed decision-making, and the psychological traits required to survive the AI revolution.

-----

Approximate Timestamps:

(00:00) Introduction

(01:09) What Are You Leaning Against?

(03:17) Tech Sector Evolution

(04:15) The AI Bubble

(05:44) Will AI Replace Humans in Investing?

(06:24) Lessons on Listening

(09:15) American vs. European Mindset

(12:09) Prime Minster For a Day

(14:27) Most Important Data

(16:00) Speed and Agility

(17:05) Ad Break

(18:35) Using Urgency as a Tool

(20:12) Can You Teach People to Change Their Minds?

(22:14) Positive and Negative Comments

(22:56) Testing Assumptions Before a Big Investment

(25:07) Attitude Towards Risk

(28:33) What’s Gotten Harder in Investing?

(29:07) The Rise of Passive Investing

(33:42) Why Did You Take This Job?

(35:04) Ad Break

(36:14) Sovereign Wealth Funds

(38:24) Voting Against Elon Musk’s Pay Package

(39:08) Building Long-Term Thinking

(43:17) Slowing Down Decisions

(45:13) Seeking Out Disagreement

(48:08) Hiring Checklist

(49:15) 140 Conversations To Prepare For A Huge Role

(53:33) CEO Evaluation

(01:01:25) What is Success For You?

------

Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

------

Follow Shane Parrish:

X: ⁠⁠⁠⁠⁠⁠https://x.com/shaneparrish⁠

Insta: ⁠https://www.instagram.com/farnamstreet/⁠

LinkedIn: ⁠https://www.linkedin.com/in/shane-parrish-050a2183/⁠

Follow Nicolai Tangen:

LinkedIn: https://www.linkedin.com/in/nicolai-tangen/?originalSubdomain=no

Learn More: https://www.nbim.no/en/about-us/leader-group/leadergroup-persons/nicolai-tangen/

------

Thank you to the sponsors for this episode:

+Granola AI, The AI notepad for people in back-to-back meetings: https://www.granola.ai/shane

Check out the Granola Notes

+Download The League App today and find your perfect match! https://click.theleague.com/qmhm/0vdzsmj5

+Shopify: https://shopify.com/knowledgeproject

Learn more about your ad choices. Visit megaphone.fm/adchoices