The Navigator
Judgement in the fog, money, risk and the call others cannot make.
John Authers emerges in this interview as a Navigator, someone who charts meaning through complex financial terrain using journalism as his compass rather than capital. Authers describes his career not as a quest for alpha but as a sustained effort to understand and explain, noting he thinks of himself 'more as a journalist trying to understand what's going on.
“Valid any longer. I was surprised in the book to read him discuss his clients and his own participation in the market. I had no idea that he was a professional investor and an advisor. I assumed he was a professor and or a historian based on how well researched and written the power of gold and against the gods.”
“It's really stop and think about that rationalization, which brings me to something that Related to the correlation and the volatility issue. So when volatility spikes in all correlations go to one, that very much hints at the behavioral issues of market participants, which as much as this book talks about a lot of theories.”
“So, I want to ask Christina a question about something John said earlier that the two gentlemen who won the Pulitzers at Philadelphia Inquirer always go back to their notes and later on in the conversation it's what was written earlier but lacking context to be better understood in the early part of the book there's a quote from I'm sure…”
“So let's talk about three things. One is liquidity, one is correlations. But I have to bring up the portfolio insurance, which was affected via options to be purchased in a crash.”
Money Maze Podcast: “Investing Lessons from 40+ Years at the FT & Bloomberg - With John Authers, Senior Markets Editor at Bloomberg”
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