James Montier resource page with a huge collection of articles and Prior to that , he was the co-Head of Global Strategy at Société Générale and has been the. James Montier, GMO. James is a member of GMO’s Asset Allocation team. Prior to joining GMO in , he was co-head of Global Strategy at Société Générale. I met James Montier at a value investment seminar in Italy in Montier ride again motions James Montier leaving Societe Generale to.

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James was kind enough to put me on his distribution list and I really looked forward to each of his articles as they always taught me something. Pirates, Spies and Short Sellers.

I met James Montier at a value investment seminar in Italy uames where he presented. In the article The psychology of bear markets published in Decemberduring the brunt of the bear market James Montier writes about that the mental barriers to effective decision-making in bear market s are as many and varied as those that plague rationality during bull markets but that they more pronounced as fear and shock limits logical analysis. Our minds are suited for solving problems related to our survival, rather than being optimised for investment decisions.

jamse If nothing fit the criteria for investing, then cash was the default option. Its a great summary of a lot of his previous work in a presentation format, summarised in bullet points and graphs. I modified a few things but the content was put together almost entirely by Tim.

We all make mistakes when we make decisions. James Montier makes a strong argument that the mess in the US economy and housing market was not caused by a black swan event unpredictable but rather was sadly predictable.

Although, James Montier does not have his own fund, he has valuable information. An enormous amount of evidence suggests that investors are generally hopeless at forecasting. He points out that this is why they are all overoptimistic and how you can avoid falling into the same trap. The problems experienced by the quant funds in August may help highlight some of these issues. Never Miss A Story! The Advent of A Cynical Bubble James Montier geneale the nature and underlying psychology of four different kinds of bubbles.


It makes no sense to forecast, the importance of a margin of safety, avoid trying to time the market and buy cheap insurance. Subscribe to ValueWalk Newsletter. Montier is the author of four market-leading books: The Little Book of Behavioral Investing: Lessons from behavioural finance and for corporate governancewrote at the end of January James Montier says even though it is tempting socidte believe bad behaviour is the result of a few rotten individuals.

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However, the overwhelming psychological evidence suggests that if you put good people into bad situations they usually turn bad. He found, unsurprisingly, that only a very small minority shows the required level of strategic generalw to beat the gun. Be sure to add it to your RSS reader.

In the article he explains a simple short screen with surprising montied shown through back testing in the USA and Europe. In November article titled Only White Swans on the Road to Revulsion James Montier makes the argument that that the housing bubble and the crisis following its collapse was not an monfier event but rather the result of over optimism and the illusion of control, two classic human behavioural mistakes.

Or, Ten Lessons Not Learnt from the financial crisis.

Montier quits SocGen for hedge fund | Reuters

He gave me permission to post on Value Walk. He also gives a few short ideas from his shorting screen. James Montier explains why the efficient markets theory is dead but still lives because of academic inertia.


You can also find it under Current Value Investors.

James Montier Resource Page

The answer in general is no but they can be improved by learning to look for evidence that disagrees with us, and seek to disprove our ideas, rather than illustrate them with supportive evidence. He argues that investors focusing on sectors rather than stocks are barking up the wrong tree. Because such markets lack fundamental support, they are liable to precipitous declines. The Evolutionary Foundations of Heuristics and Biases James Montier in December writes that a catalogue of biases that cognitive psychologists have built up over the last three decades seem to have stem from one of three roots — self-deception, heuristic simplification including affectand social interaction.

The credit for this page goes to my colleague and friend, Tim.

James Montier | Value Invest

He found that on gemerale professional investors are using between one and two steps of strategic thinking in forming their expectations. At the Value Investing Congress incopies of the book were handed out to all partcipants. To us, the current market environment is largely a greater fool market. I wanted to inform the readers that there is a new permanent page on Value Walk devoted mojtier James Montier Below is the page.

It creeps into almost every discussion on finance.

And them he goes on to systematically take the model apart with real life examples and evidence. Value plus quality seems to make sense. The list below gives a top ten list for avoiding the most common investment mental pitfalls. Send me ocassional third party offers Yes No. James wrote that fifteen stocks in the U.

Last modified: December 27, 2019