Patrick O’Shaughnessy is the CEO of O’Shaughnessy Asset Management, the host of the Invest Like the Best podcast, and a great friend.  Patrick’s podcast and widely read monthly mailing list of books, available at investorfieldguide.com, have made him a celebrity of sorts in the investing world. Those familiar with his voice will already know how wide his curious mind travels, but I image far fewer know much about his daily investing activities. Our conversation begins with Patrick’s early start in the business and discovered passion for research. We turn to investing at OSAM, covering four core quantitative factors, how those factors work, the research process to dive deeper into each factor and explore new ones, machine learning, differentiated portfolio construction, and the impact of quants on the market.  We then turn to Patrick’s experience as a podcaster, discussing his conceptual learning loop, lessons from interviewing, and the ways he has applied lessons from the podcast to OSAM’s asset management business. We close by discussing investing in external managers, including a great nugget on probing quantitative strategies. Patrick and I both finished this conversation feeling that we had just scratched the surface, which might be fodder for a Part B down the road.  Regardless, I’m indebted to Patrick for being the catalyst behind the creation of Capital Allocators two years ago, and it was my great pleasure to get him on the other side of the microphone. Learn More Discuss show and Read the Transcript Join Ted's mailing list at CapitalAllocatorsPodcast.com Join the Capital Allocators Forum Write a review on iTunes Follow Ted on twitter at @tseides For more episodes go to CapitalAllocatorsPodcast.com/Podcast

Tom DeLong is a renown expert in organizational behavior, leadership, and human development of high performance professionals, the so called “soft skills” often dismissed in the asset management business. After starting an academic career under the wing of Stephen Covey, Tom found himself recruited by John Mack to work alongside him to develop a positive culture at Morgan Stanley. After eight years in the trenches, he returned to academia as a professor at Harvard Business School, where he has remained the past twenty years. Unlike most of us, Tom’s resume and achievements are unusually difficult to locate online or elsewhere. It was a sign of things to come in our fascinating conversation, which is simultaneously a master class in authentic leadership and a live case study in self-exploration with Tom as his own protagonist. Tom is exactly the type of person he has studied, and strives to be the type of leader he promotes. We discuss the meaning of work, the importance of feedback, the ways high performing professionals derail themselves, the difference between your image and your essence, the omnipresence of insecurity in high achievers, and some techniques to foster deeper conversation in relationships. Learn More Discuss show and Read the Transcript Join Ted's mailing list at CapitalAllocatorsPodcast.com Join the Capital Allocators Forum Write a review on iTunes Follow Ted on twitter at @tseides For more episodes go to CapitalAllocatorsPodcast.com/Podcast