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Michael Gayed

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54

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2021-10-24

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2021-10-24

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1

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1. “So, if you follow me on Twitter at lead lag report, there's a line that I say a tweet that often gets a lot of engagement, which is arguably a derivative of one of Farrell's rules, which is opportunity always exists when the crowd thinks it knows an unknowable future. The rule that that's probably most tied to for Farrell is if everybody thinks one way it's going to be the exact opposite, which is basically an argument for contrarianism to some extent. Then one always to me resonated because the one commonality that everybody has in this industry is nobody can predict tomorrow. I always, and I really do believe this, no amount of intelligence increases the clarity of one's crystal ball. I want to see all these DCF models, all these macro models for stocks in 2018 to see if they anticipate COVID, or if they anticipated Lehman Brothers or the Summer Crash of 2011 or anything that was a tail event in markets, which often define generations of returns candidly. So if you have that viewpoint that nobody can predict,”

   2021-10-24 · We Study Billionaires · TIP390: Quantitative Investing Tactics w/ Michael Gayed · IDENTIFIED FROM THE TRANSCRIPT

2. “And investing about perseverance and having gone through the personal and professional pain and really kind of resetting my future course, that lesson of perseverance is what got me to where I am today, whether it's where I hoped it would be or not is irrelevant. I kept on moving forward because I had no choice.”

   2021-10-24 · We Study Billionaires · TIP390: Quantitative Investing Tactics w/ Michael Gayed · IDENTIFIED FROM THE TRANSCRIPT

3. “The book back and republished it. So it kind of grew up under a lot of the getting sort of a lot of osmosis, so to speak, from his passion for markets, every single dinner conversation, there would be some talk about some stock or some macro event or something. And I'm just a kid trying to play my Game Boy at the time, right? So you get that. And then, you know, I joined the family firm after I graduated from college. My father was a CIO, chief investment officer. He passed away in 08. Lehman Brothers happens. My whole world's in shambles between the personal pain plus the professional disaster, right? Because I had no name. I had no credibility. I had no connections. And who am I? I'm a guy that just got my CFA charter in 08. My father passes and Lehman Brothers House. So it's like an unbelievable time in my life. And the question you ask, which is, what's the one thing I kind of learned most from my father is you got to find a way to persevere. He has a quote in his book Intermarket.”

   2021-10-24 · We Study Billionaires · TIP390: Quantitative Investing Tactics w/ Michael Gayed · IDENTIFIED FROM THE TRANSCRIPT

4. “I appreciate that question because there is sort of a family history to this industry that I so dearly love. So my father worked in the late mid to late 80s at Merrill Lynch and was on the same team as Bob Farrell. Now for anybody that is old enough, I may recognize that name, you may be familiar with Farrell's 10 rules, which if you Google them for all the newer investors, I encourage you to take a look at those rules. It was sort of this legendary technician at the time. This was before the era of the internet when you could overlay a moving average instantaneously with click above button. So my father worked on his team. He wrote two books on markets. One of them was on the crash of 87, which he predicted would happen two months before it did. That's why he wrote the book afterwards. And then wrote this book Intermarket Analysis and Investing in 1990 was never a runaway bestseller. But after he passed away, I decided to honor his memory, got the right”

   2021-10-24 · We Study Billionaires · TIP390: Quantitative Investing Tactics w/ Michael Gayed · IDENTIFIED FROM THE TRANSCRIPT