Mikhail Samonov – Lessons from Two Centuries of Financial History | #502

Today’s guest is Mikhail Samonov, CEO of Two Centuries Investments, which was established to create long term wealth for investors through its blend of innovative and behaviorally focused investment strategies.

In today’s episode, Mikhail walks through what led him to focus so much on ‘long history’ in his research. He shares lessons learned from studying two centuries of financial returns, including momentum and asset allocation. He also spends time explaining how he’s using AI to study intangible value and company cultures. 

(1:29) - Welcome Mikhail to the show

(2:30) - Why such a focus on long-history?

(3:04) - Two Centuries of Price-Return Momentum; Two Centuries of Multi-Asset Momentum

(12:41) - Investors often underestimate risks, ignore history

(18:11) - Investment comfort zones vary by generation

(25:15) - Innovation and creativity are crucial for quantitative investors

(34:26) - Applying research on intangibles using NLP

(41:00) - CultureLine uses AI to analyze workplace culture, aiding investors and enhancing ESG models

(45:46) - Story about Steve Jobs adding "creative" to Apple's 10K

(49:46) - Deep dive into asset allocation strategies and their long-term resilience; A Century of Asset Allocation Crash Risk

(59:42) - Why investors underestimate drawdowns

(1:03:54) - What investment belief Mikhail holds that most of his professional peers do not

(1:07:09) - Mikhail’s most memorable investment

Learn more about Mikhail: Two Centuries; CultureLine; LinkedIn; Twitter

-----

Follow Meb on Twitter, LinkedIn and YouTube

For detailed show notes, click here

To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com

-----

Sponsor: Today's episode is sponsored by YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. YCharts offers a suite of intuitive tools, including numerous visualizations, comprehensive security screeners, portfolio construction, communication outputs, and market monitoring. Visit YCharts to start your free trial and be sure to mention "Meb" for 20% off your subscription. (New clients only)

Sponsor: Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here.

Follow The Idea Farm: Twitter | LinkedIn | Instagram | Tik Tok

-----

Interested in sponsoring the show? Email us at [email protected]

-----

Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. 

-----

Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! 

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