Legg Mason Capital Management's Chief Investment Strategist, Michael Mauboussin, offers his findings on concepts that we believe savvy investors should be considering today.
Untangling Skill and Luck
How to Think About Outcomes—Past, Present, and Future
July 15, 2010 - 
Read
It’s All about Managing for Value
Comments based on a presentation at the CFO Executive Summit,
May 18, 2010
June 11, 2010 - 
Listen Read
The Colonel Blotto Game
Transitivity and How to Win When You’re an Underdog
May 5, 2010 - Listen Read
A Surge in the Urge to Merge
M&A: Trends and Analysis
January 12, 2010 - Read
See for Yourself
The Importance of Checking Claims
December 2, 2009 - Listen Read
Investment Committees
How to Build a Team to Make Good Decisions
September 1, 2009 - Listen Read
What Do We Need to Fix?
Protecting Against Ourselves
July 16, 2009 - Listen
Read
In Defense of Shareholder Value
Setting the Record Straight on What Shareholder Value
Really Means
June 4, 2009 - Listen
Read
Long-Term Investing: How I Learned to
Stop Worrying and Ignore Volatility
Excerpts from Comments to the Greenwich Roundtable
December 15, 2008 -
Read
What Biology Can Teach You about Today’s Market
An Interview with Doug Erwin
November 20, 2008 -
Read
Show Me the Money
Why Cash Flows Are More Important Than Earnings
November 3, 2008 -
Read
Where from Here?
Long-Term Opportunities Amidst the Fear
October 29, 2008 -
Listen Read
The Sociology of Markets
Financial Institutions, Incentives, and Asset Pricing
July 15, 2008 - Listen Read
The Failure of Arbitrage
Leverage, Liquidity, and the Persistence of Inefficiency
May 14, 2008 - Listen Read
ROIC Patterns and Shareholder Returns
Sorting Fundamentals and Expectations
January 18, 2008 - Listen Read
Fat Tails and Nonlinearity
Diversity Breakdowns and Invisible Vulnerability
December 20, 2007 - Listen Read
Death, Taxes, and Reversion to the Mean
ROIC Patterns: Luck, Persistence, and What to Do About It
December 14, 2007 - Listen Read
Was Harry Potter Inevitable?
Cumulative Advantage, Counterfactuals and the Halo Effect
September 7, 2007 - Listen Read
What You See and What You Get
Why Cash Flows Are More Important Than Earnings
July, 23, 2007 - Listen Read
Turtles in Omaha
The Mindset of Great Investors
May, 23, 2007 - Listen Read
Explaining the Wisdom of Crowds
Applying the Logic of Diversity
March 20, 2007 - Listen Read
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