Robert Hagstrom is a distinguished author and investor with 35+ years of experience in the equity market. Our conversation centers around his gem "The Last Liberal Art", explaining how disciplines such as biology, philosophy, and psychology can help us improve as investors. We also gain new reading inspiration as well as advice for younger listeners.

The episode was recorded on February 2, 2022. For more info about the podcast, go to the episode page.

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Episode Chapters

(00:00) Intro to Robert Hagstrom and the book

(07:07) Benefits of learning from several disciplines

(13:06) Biology - Complex adaptive systems

(17:32) Physics - Market predictions

(19:32) Disciplines for ”The Last Liberal Art 2”

(20:48) Sociology - Self-organization vs. Central banks

(24:22) Psychology - Myopic loss aversion, irrationality, mistakes

(32:03) Philosophy - Pragmatism and Wittgenstein’s Theory of Language

(36:51) Multidisciplinary money management

(40:28) Book inspiration and advice for younger people

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Books Mentioned

Investing: The Last Liberal Art - Robert Hagstrom
Books by Daniel Kahneman & Amos Tversky
The Wisdom of Crowds - James Surowiecki
Tractatus - Ludwig Wittgenstein
Philosophical Investigations - Ludwig Wittgenstein (posthumous)
Narrative Economics - Robert Shiller
The Metaphysical Club - Louis Menand
Oliver Wendell Holmes - Stephen Budiansky
Immunity to Change - Lisa Laskow Lahey & Robert Kegan
Books by Michael Mauboussin
Books about Sherlock Holmes - Sir Arthur Conan Doyle
Strategic Intelligence for American World Policy - Sherman Kent
Arguably - Christopher Hitchens

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More on Robert Hagstrom

EquityCompass: https://equitycompass.com/

Books: https://www.amazon.com/kindle-dbs/entity/author/B000AP8X3Q

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About the podcast

Intro episode: https://www.redeye.se/podcast/investing-by-the-books/817383/0-intro-to-investing-by-the-books

Twitter: https://twitter.com/IB_Redeye

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What is Investing by the Books?

Investing by the Books was founded by Henrik Andersson, Bo Börtemark, Mats Larsson and Michael Persson. It has published hundreds of book reviews in the past 10 years and operates on a non-profit basis.

Visit the website: http://www.investingbythebooks.com/

Follow on Twitter: https://twitter.com/Investbythebook

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What is Redeye?

Redeye is a research-centered boutique investment bank from Stockholm. Founded in 1999, Redeye cultivates investors through timeless knowledge, a humble attitude, and a strong focus on quality.

Visit the website: https://www.redeye.se/

Follow on Twitter: https://twitter.com/Redeye_

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Disclaimer

Notice that the content in this podcast is not, and shall not be construed as investment advice. This information is meant to be informative and for general purposes only. For full disclaimer, visit Redeye.se

#16 Robert Hagstrom: Investing - The Last Liberal Art

Investing by the Books