TIP794: Keynes And The Markets w/ Kyle Grieve
We Study Billionaires - The Investor’s Podcast Network
Probability Updating and Position Management
Kyle outlines his approach to bear-case probabilities and updating positions as businesses de-risk or deteriorate.
Kyle discusses the investing evolution of John Maynard Keynes and the timeless lessons modern investors can draw from his successes and failures.
IN THIS EPISODE YOU’LL LEARN: 00:00:00 - Intro 00:03:50 - Why John Maynard Keynes is such a fascinating case study in evolving as an investor 00:08:28 - A key resource that helped him think of assets from a bottom-up approach 00:10:59 - Why Keynes's experiences of going broke multiple times helped shape him into a long-term thinker 00:17:13 - How he thought about speculation and investing, and used that to beat the market 00:28:16 - How he improved his temperament, overcame overconfidence, and adopted a long-term mindset 00:36:21 - His thoughts on diversification and reducing risk 00:41:30 - Why he believed that markets were social systems, and the errors that exposed investors to 00:50:25 - What he thought about short-term volatility 01:01:16 - Why Keynes used adaptability as such a powerful tool 01:03:50 - Six impactful takeaways
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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