Wall Street Legend Jim O'Shaughnessy - A Calm Voice in Turbulent Times (EP.222)
My good friend Jim O’Shaughnessy is back for a third appearance on Panic with Friends. He was my very first guest on the show way back in March of 2020, right at the start of the Global Pandemic. He wasn’t panicking then, and he’s not panicking now. I wanted to check in with Jim to see how his spider tingly sense feels around the markets right now. He’s more of a systems guy and doesn’t time the market, but I wanted to get his calm assessment of what the world looks like. One thing the 'yutes' need to keep in mind during this market turmoil is that they’re “time billionaires”. And you should use that to your advantage. You definitely want to exchange that time for risk. I hope you enjoy our wide-ranging conversation on life, family, investing, and the markets. Guest - Jim O’Shaughnessy, Founder, Chairman & Co-Chief Investment Officer, OSAM LLC howardlindzon.com, osam.com, infiniteloopspodcast.com Twitter: @howardlindzon , @jposhaughnessy, @PanicwFriends, @knutjensen linkedin.com/in/james-o-shaughnessy-b072bb #fintech #invest #investment #venturecapital #stockmarket #finance Show Notes: Introduction (00:42) Welcome Jim (08:19) Lake Como, Italy (09:24) A different type of Panic from 2020 (17:26) Strategic and Tactical insights (18:12) Historical perspectives (19:40) A generation raised on zero cost of capital (23:18) Recency bias / Arbitrage human nature (24:35) The Fed (37:10) Everything is psychology at the end of the day (41:40) We socialized losses (43:50) Musk's Twitter deal (52:40) Wrapping up (57:59) Closing thoughts (104:20)