It was over a week ago now that I had a conversation with CEO and CIO of Morgan Creek Capital, Mark Yusko. It’s one of the true pleasures of my work: speaking with the sharpest minds in the investment world – from the fine, dignified, and exceptionally bright, right through to the unrefined, rough as guts, look-at-me-wrong-and-I’ll-bust-your-nut folks. What drives my desire and conversations is always the intellect and knowledge behind those who have proven time and again to have an edge.
Mark is one gent who definitely has an edge. What’s more, is he’s extremely likeable, and for a guy who’s as successful as he is, very approachable.
I’d never spoken to Mark before even though we have a number of mutual friends. I’m really glad I managed to connect since it was one of the most enjoyable conversations I’ve had in years. I expect it’ll be the first of many “stress testing” conversations to come. We chatted about a number of things such as:
- One emerging market currency that has been smacked and treated like a failed state.
- The most moronic thing Mark has seen in his entire career (which is saying something).
- The opposite of reflexivity, and a market setup for what will assuredly be a catastrophic outcome, and
- The one bet that Mark is prepared to make over the next decade with anyone. And I’ll gladly join him in this.
You can listen to the first part of the call which I recorded below and I’ll follow up with the second tomorrow. I split it into two in order to make it more digestible, and because we took a break midway through the call anyway, so it provided a good way to present the information to you.
“Today it’s not about information access. It’s about information synthesis – can you determine what’s important?” — Mark Yusko