James Montier
The Navigator
Judgement in the fog, money, risk and the call others cannot make.
James Montier is The Navigator by way of humility. The GMO asset allocation team member and behavioural finance author steers by systematically mapping what he cannot know, conceding that he can identify unsustainable conditions while remaining blind to their timing. Rather than predicting destinations, he charts the risk terrain itself, and his re-bias framework builds processes designed to traverse human fallibility instead of pretending it away.
“My job is to think about all the places we could be wrong, whether that's at the micro level or indeed at the macro level. I spend all my time worrying about what the models are missing.”
“If you cannot de-bias, then re-bias. It's incredibly hard to stop people being people. The best thing is to design a process that will allow them to benefit from those same behavioral pitfalls.”
“I simply don't know when something is going to unravel. I can often see the unsustainable nature of what is happening, but it doesn't tell me anything about timing.”
Masters in Business: “James Montier on Fear and Investment (Podcast)”
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