This week, we speak with Andrew Slimmon, managing director at Morgan Stanley Investment Management, where he leads the Applied Equity Advisors team. He is also the lead senior portfolio manager on all long equity strategies for the applied equity advisors team, as well as a member of the Morgan Stanley Wealth Management Global Investment Committee. He began his career at Morgan Stanley in 1991 as an adviser in private wealth management, and later served as chief investment officer of the Morgan Stanley Trust Co.
Slimmon describes his concentrated portfolios — either 30 US stocks or 20 global stocks — as a way to avoid closet indexing. Owning 150-200 names invariably creates a portfolio with a low active share — meaning it is an expensive index-like product.
His approach combines quantitative strategy with behavioral economics. He explains how his popular Slimmon’s TAKE is a way to stay in touch with his investors.
A list of his favorite books is here; A transcript of our conversation is available here Tuesday.
You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here.
Be sure to check out our Masters in Business next week with David Snyderman, Global Head of Alternative Credit + Fixed Income for Magnetar Capital. The firm is a multi-strategy and multi-product alternative investment management firm, managing $14.9 billion in client assets, and has created over $11 billion of net P&L across all strategies since its 2005 inception.
Andrew Slimmon’s Favorite Books
Same as Ever: A Guide to What Never Changes by Morgan Housel
Misbehaving: The Making of Behavioral Economics by Richard Thaler
Thinking, Fast and Slow by Daniel Kahneman
The Laws of Wealth: Psychology and the secret to investing success by Daniel Crosby
