My notes on ‘The Art of Execution’ by Lee Freeman-Shor.

First heard about this book from @IvanTanner4 interview on @Trawlingfor10x

2/ Background: Over seven years, 45 of the world’s top investors were given between $25m and $150m to invest by fund manager Lee Freeman-Shor.

His instructions were simple. There was only one rule. They could only invest in their ten best ideas.

3/ From 2006 to 2013, Lee examined all 1866 investments. What surprised him was only 49% of these investment made money. While some of the most legendary investors only made money 30% of the time.

Yet, almost all of them did not lose money. In fact, they still made a lot of it.

4/ How were they so successful if their ideas were wrong most of the time? Lee discovered successful investing is not about being right per-se.

Success in investing is down to how great ideas are executed.

5/ “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” - George Soros