10½ Lessons from Experience: Perspectives on Fund Management

Product Description In 10½ Lessons from Experience, Paul Marshall distils the experience of 35 years of investing, including over 20 years at Marshall Wace, the global equity hedge fund partnership. He describes the disconnect between academic theory and market practice, in particular the reality and persistence of 'skill' - the continuing ability of the best practitioners to beat the market. But he also underscores the prevalence of uncertainty and human fallibility, showing how a successful investment management business must steer a path which recognises both the persistence of skill and the pitfalls of cognitive bias, human fallibility and hubris. Review A diverse and entertaining work. [Paul] has an extraordinary ability to source a good idea from a hundred different places... There are plenty of reasons why we should be interested in hearing what Paul Marshall has to say. -- Christopher Walker ― Investment & Pensions EuropeWhat a brilliant book...way overdue! Serious investors need to read this! -- Dambisa Moyo, author of ― Dead AidHedge fund titan charts a Quantamental future. ― BloombergA bit of a gem. -- Patrick Hosking, Financial Editor ― The TimesA radical challenge to conventional wisdom on how modern financial markets operate. -- Dame Minouche Shafik, Director of London School of EconomicsA terrific read....essential reading for portfolio managers. -- Jonathan Tepper, author of ― The Myth of Capitalism Book Description The nature of investing is that to be successful you need to constantly adapt. About the Author Paul Marshall is chairman of Marshall Wace and of the management committee of CentreForum.