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Michael Mauboussin
By admin - Posted on November 5th, 2008
Tagged: Legg Mason strategist Mauboussin believes this will prove to be a good time—and maybe even a great time—to invest for people with time horizons beyond a year or two. While there’s no way to know where the market will be in the short term, many conditions are in place for better performance. More directly, he believes the market at these levels represents substantial value for long-term investors...
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Legg Mason strategist Mauboussin believes this will prove to be a good time—and maybe even a great time—to invest for people with time horizons beyond a year or two. While there’s no way to know where the market will be in the short term, many conditions are in place for better performance. More directly, he believes the market at these levels represents substantial value for long-term investors...
- 1 comment
By admin - Posted on February 12th, 2008
Tagged: Brian Milner chats with Michael Mauboussin, chief investment strategist at Legg Mason, about human nature and the markets
Michael Mauboussin says "What we know is that future asset returns are typically most attractive after asset prices have done poorly and they tend to be less attractive after they [prices] have done well, which is the inverse of what human nature says. Human nature makes you want to buy after things have done well and makes you want to sell when things have done poorly."
Brian Milner chats with Michael Mauboussin, chief investment strategist at Legg Mason, about human nature and the markets
Michael Mauboussin says "What we know is that future asset returns are typically most attractive after asset prices have done poorly and they tend to be less attractive after they [prices] have done well, which is the inverse of what human nature says. Human nature makes you want to buy after things have done well and makes you want to sell when things have done poorly."
By admin - Posted on January 25th, 2008
Tagged: Does an understanding of ROIC patterns help with stock picking? Michael J. Mauboussin answers that question.
Does an understanding of ROIC patterns help with stock picking? Michael J. Mauboussin answers that question.
By admin - Posted on December 16th, 2007
Tagged: Company financial models are often a cornerstone of the stock selection process for fundamental
investors. The model forecasts are based on crucial value drivers like sales growth rates, operating
profit margins, investment capital needs, and economic returns. When done properly, detailed longterm
models are laborious because they require input from a wide range of areas, including historical
corporate performance, firm-specific issues, competitive positioning, and the broader macroeconomic
backdrop.
Company financial models are often a cornerstone of the stock selection process for fundamental
investors. The model forecasts are based on crucial value drivers like sales growth rates, operating
profit margins, investment capital needs, and economic returns. When done properly, detailed longterm
models are laborious because they require input from a wide range of areas, including historical
corporate performance, firm-specific issues, competitive positioning, and the broader macroeconomic
backdrop.
By admin - Posted on September 17th, 2007
Tagged: Our society often associates success with quality. In a fiercely competitive market, the thinking goes, only the best products rise to the surface. Once a product is a hit, whether a blockbuster movie or a bestselling book, we readily point to the attributes that make it so appealing. And the stakes are high: studies show a small minority of winners reap the vast majority of the sales.
Our society often associates success with quality. In a fiercely competitive market, the thinking goes, only the best products rise to the surface. Once a product is a hit, whether a blockbuster movie or a bestselling book, we readily point to the attributes that make it so appealing. And the stakes are high: studies show a small minority of winners reap the vast majority of the sales.
By admin - Posted on March 6th, 2007
Tagged: Michael J. Mauboussin joined Legg Mason Capital Management as Chief Investment Strategist in 2004. Prior to joining LMCM, Michael served as Managing Director and Chief U.S. Investment Strategist at Credit Suisse First Boston. He was also a member of the firm’s Research Review Committee. Michael joined CSFB in 1992 as a packaged food industry analyst. He is the former president of the Consumer Analyst Group of New York and was repeatedly named to Institutional Investor’s All-American Research Team and the Wall Street Journal All-Star survey in the food industry category.
Michael J. Mauboussin joined Legg Mason Capital Management as Chief Investment Strategist in 2004. Prior to joining LMCM, Michael served as Managing Director and Chief U.S. Investment Strategist at Credit Suisse First Boston. He was also a member of the firm’s Research Review Committee. Michael joined CSFB in 1992 as a packaged food industry analyst. He is the former president of the Consumer Analyst Group of New York and was repeatedly named to Institutional Investor’s All-American Research Team and the Wall Street Journal All-Star survey in the food industry category.
By admin - Posted on March 5th, 2007
Tagged: Michael J. Mauboussin joined Legg Mason Capital Management as Chief Investment Strategist in 2004. Prior to joining LMCM, Michael served as Managing Director and Chief U.S. Investment Strategist at Credit Suisse First Boston. He was also a member of the firm’s Research Review Committee. Michael joined CSFB in 1992 as a packaged food industry analyst. He is the former president of the Consumer Analyst Group of New York and was repeatedly named to Institutional Investor’s All-American Research Team and the Wall Street Journal All-Star survey in the food industry category.
Michael J. Mauboussin joined Legg Mason Capital Management as Chief Investment Strategist in 2004. Prior to joining LMCM, Michael served as Managing Director and Chief U.S. Investment Strategist at Credit Suisse First Boston. He was also a member of the firm’s Research Review Committee. Michael joined CSFB in 1992 as a packaged food industry analyst. He is the former president of the Consumer Analyst Group of New York and was repeatedly named to Institutional Investor’s All-American Research Team and the Wall Street Journal All-Star survey in the food industry category.
By admin - Posted on January 30th, 2007
Tagged:
Announced mergers and acquisitions (M&A) deals hit an all-time record in 2006, topping $4 trillion globally. Such activity clearly benefits investment bankers and lawyers, but the impact on investors is not as clear.On the one hand, investors often receive premiums when selling a takeover target, generally a good thing. On the other hand, M&A activity has historically been pro-cyclical, meaning deal activity is fast and furious precisely when stocks have performed well and are at high valuations. Predictably, a period of poor stock market returns has often followed an M&A crest.We need to look no further than the 2000 M&A peak, and subsequent bear market, for evidence of this case.
So what should equity investors make of today’s M&A boom?
Announced mergers and acquisitions (M&A) deals hit an all-time record in 2006, topping $4 trillion globally. Such activity clearly benefits investment bankers and lawyers, but the impact on investors is not as clear.On the one hand, investors often receive premiums when selling a takeover target, generally a good thing. On the other hand, M&A activity has historically been pro-cyclical, meaning deal activity is fast and furious precisely when stocks have performed well and are at high valuations. Predictably, a period of poor stock market returns has often followed an M&A crest.We need to look no further than the 2000 M&A peak, and subsequent bear market, for evidence of this case.
So what should equity investors make of today’s M&A boom?
By webmaster - Posted on November 22nd, 2005
Tagged: Legg Mason's Michael Mauboussin on experts and addresses some basic questions, including: • What is an expert? • What characteristics do experts share? • Where do experts tend to do well and where do they do poorly? • Does the world of investing have experts.
Read the article.
Legg Mason's Michael Mauboussin on experts and addresses some basic questions, including: • What is an expert? • What characteristics do experts share? • Where do experts tend to do well and where do they do poorly? • Does the world of investing have experts.
Read the article.
