Murray Winckler, co-founder & PM at Laurium Capital, was my special guest on the Investment Community podcast. You can listen to the conversation with Murray here.
In this episode, Murray tells:
- How a background in investment banking (running capital raises and underwritings) gives Laurium an edge in event-driven investing.
- How a good investment team is differentiated by how well it does three things: business assessment, financial assessment, and valuation.
- How even fundamental, bottom-up stock pickers need to pay attention to the macro environment.
We also discussed:
- That in the early stages of Laurium’s life, they needed to manage their funds with an acute awareness that any investment accident could pose significant business risk.
- That to safeguard a firm’s culture, you need to be in control of three things: hiring, firing and bonus.
- That when hiring people, how smart they are is only a starting point.