Mala Gaonkar - Founder of SurgoCap Partners | Podcast | In Good Company | Norges Bank Investment Management

Mala Gaonkar, founder of SurgoCap Partners, discusses her investment strategies, emphasizing the importance of identifying businesses with long-duration moats and integrating technology insights across various sectors. Gaonkar stresses the value of small, collaborative teams and data-driven decision-making to counter biases. She highlights AI's transformative role in medical technologies, such as improving imaging accuracy and surgical procedures, and its potential to contain healthcare costs. Drawing from her experiences at Lone Pine, she underscores systemic thinking over siloed approaches, caution against financial leverage, and the need to revisit past investment decisions to avoid sunk cost bias. Gaonkar also shares her involvement in philanthropy, particularly in leveraging behavioral data to improve healthcare service delivery.

Outlines

Part 1: Investment Philosophy, Strategy

Part 2: Decision Making, Bias Mitigation

Part 3: Moats, Sectors, Execution

Part 4: Background, Diversity, Philanthropy

Part 5: Creativity, Habits, Mindset

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Mala Gaonkar - Founder of SurgoCap Partners | Podcast | In Good Company

Norges Bank Investment Management

Part 1: Investment Philosophy, Strategy

SurgoCap's Investment Strategy: Identifying Great Businesses with Long Duration Moats

Technology's Role in Business and SurgoCap's Focus on Intersections

Leveraging Data Science to Debias Investment Decisions

The Impact of AI on Medical Technology and Healthcare Costs

Concentration and Quality: SurgoCap's Investment Philosophy

Part 2: Decision Making, Bias Mitigation

System Two Thinking and the Importance of Context in Investing

Investing in Private Companies and Generating Investment Ideas

Idea Validation, Bias Mitigation, and Thoughtfully Missing Out

Team Collaboration, Red Flags, and Emotional Balance in Investing

Part 3: Moats, Sectors, Execution

Defining Quality: Moats, Incremental Returns, and Capital Allocation

Chip Stack, Medical Technologies, and Systemic Moats

Real-Time Data and the Limits of AI Disruption

Investment Time Horizons and the Challenges of Shorting

The Importance of Valuation and Lessons from Lone Pine

NVIDIA, Sunk Cost Bias, and Revisiting Missed Opportunities

Part 4: Background, Diversity, Philanthropy

The Impact of Multicultural Background on Investment Perspective

Being a Woman in the Investment World and the Meritocratic Nature of the Business

Philanthropy: SurgoHealth and Data-Driven Healthcare Solutions

Part 5: Creativity, Habits, Mindset

Creative Work: Narrative, Context, and Systemic Thinking

Curiosity, Openness, and Humility: Key Traits for Success

Staying Curious, Morning Routine, and Relaxation

Mala Gaonkar - Founder of SurgoCap Partners | Podcast | In Good Company

Norges Bank Investment Management

Part 1: Investment Philosophy, Strategy

00:00SurgoCap's Investment Strategy: Identifying Great Businesses with Long Duration Moats

SurgoCap's Investment Strategy: Identifying Great Businesses with Long Duration Moats

01:30Technology's Role in Business and SurgoCap's Focus on Intersections

Technology's Role in Business and SurgoCap's Focus on Intersections

03:40Leveraging Data Science to Debias Investment Decisions

Leveraging Data Science to Debias Investment Decisions

06:01The Impact of AI on Medical Technology and Healthcare Costs

The Impact of AI on Medical Technology and Healthcare Costs

08:40Concentration and Quality: SurgoCap's Investment Philosophy

Concentration and Quality: SurgoCap's Investment Philosophy

Part 2: Decision Making, Bias Mitigation

10:22System Two Thinking and the Importance of Context in Investing

System Two Thinking and the Importance of Context in Investing

13:16Investing in Private Companies and Generating Investment Ideas

Investing in Private Companies and Generating Investment Ideas

15:11Idea Validation, Bias Mitigation, and Thoughtfully Missing Out

Idea Validation, Bias Mitigation, and Thoughtfully Missing Out

17:01Team Collaboration, Red Flags, and Emotional Balance in Investing

Team Collaboration, Red Flags, and Emotional Balance in Investing

Part 3: Moats, Sectors, Execution

19:02Defining Quality: Moats, Incremental Returns, and Capital Allocation

Defining Quality: Moats, Incremental Returns, and Capital Allocation

20:33Chip Stack, Medical Technologies, and Systemic Moats

Chip Stack, Medical Technologies, and Systemic Moats

23:12Real-Time Data and the Limits of AI Disruption

Real-Time Data and the Limits of AI Disruption

24:20Investment Time Horizons and the Challenges of Shorting

Investment Time Horizons and the Challenges of Shorting

26:27The Importance of Valuation and Lessons from Lone Pine

The Importance of Valuation and Lessons from Lone Pine

28:51NVIDIA, Sunk Cost Bias, and Revisiting Missed Opportunities

NVIDIA, Sunk Cost Bias, and Revisiting Missed Opportunities

Part 4: Background, Diversity, Philanthropy

31:13The Impact of Multicultural Background on Investment Perspective

The Impact of Multicultural Background on Investment Perspective

33:29Being a Woman in the Investment World and the Meritocratic Nature of the Business

Being a Woman in the Investment World and the Meritocratic Nature of the Business

34:48Philanthropy: SurgoHealth and Data-Driven Healthcare Solutions

Philanthropy: SurgoHealth and Data-Driven Healthcare Solutions

Part 5: Creativity, Habits, Mindset

38:03Creative Work: Narrative, Context, and Systemic Thinking

Creative Work: Narrative, Context, and Systemic Thinking

40:19Curiosity, Openness, and Humility: Key Traits for Success

Curiosity, Openness, and Humility: Key Traits for Success

41:12Staying Curious, Morning Routine, and Relaxation

Staying Curious, Morning Routine, and Relaxation