The Art of Execution: How the worlds best investors get it wrong and still make millions by Lee Freeman-ShorOver seven years, 45 of the worlds top investors were given between $25 and $150m to invest by fund manager Lee Freeman-Shor. His instructions were simple. There was only one rule. They could only invest in their ten best ideas to make money.
It seemed like a foolproof plan to make a lot of money. What could possibly go wrong? These were some of the greatest minds at work in the markets today - from top European hedge fund managers to Wall Street legends.
But most of the investors great ideas actually lost money. Shockingly, a toss of a coin would have been a better method of choosing whether or not to invest in a stock.
Nevertheless, despite being wrong most of the time, many of these investors still ended up making a lot of money.
How could they be wrong most of the time and still be profitable? The answer lay in their hidden habits of execution, which until now have only been guessed at from the outside world.
This book lays bare those secret habits for the first time, explaining them with real-life data, case studies and stories taken from Freeman-Shors unique position of managing these investors on a day-to-day basis.
A riveting read for investors of every level, this book shows you exactly what to do and what not to do when your big idea is losing or winning - and demonstrates conclusively why the most important thing about investing is always the art of execution.
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His instructions were simple. There was only one rule. They could only invest in their ten best ideas to make money. It seemed like a foolproof plan to make a lot of money. What could possibly go wrong? These were some of the greatest minds at work in the markets today - from top European hedge fund managers to Wall Street legends. But most of the investors' great ideas actually lost money.
Cover of The Art of Execution by Lee Freeman-Shor So, I approached Freeman -Shors book with some trepidation as the subtitle of the book suggests this is a.
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This exercise was done over a 7 year period spanning from June to October , and Freeman-Shor was surprised and shocked after reviewing the results. This meant that the chances of them being right on their ideas were worse than tossing a coin and betting on heads coming up every time! Freeman-Shor was also fascinated that some of his chosen investors could still make a sizable return on capital despite being right in only 1 out of every 3 investments. How could they make lots of money if their ideas are wrong most of the time? Success in investing is down to how great ideas are executed. However, the author also emphasised the vital point about being aware of your own personality and temperament when it comes to adopting and refining money management techniques.
Posted By: Brenda Jubin November 4, In the words of the old saw, investors need to cut [or double down on] their losses and let their winners run. From this position he was able to analyze 1, investments, representing a total of 30, trades, made by 45 leading investors from June to October The key to their success was knowing what to do when they were losing and what to do when they were winning. In brief, the bulk of their success came from wisely managing their positions. When these investors had losing positions, they adopted one of three personae: Rabbits, Assassins, or Hunters. The Rabbits, whom the author wishes he had never hired, exhibited a buy and hope mentality.