By
Borsgade
In this interview, Cliff Asness addresses the difficulty of assessing an investment strategy during challenging times. He cautions against two extremes: abandoning a strategy prematurely due to short-term losses or rigidly clinging to it without adapting when needed.
Cliff praises Warren Buffett’s resilience in adhering to his principles despite setbacks, emphasizing that while markets may evolve, core investment principles tend to change more gradually. However, he acknowledges that investors must be prepared to adapt in the rare instances of structural market shifts.
He underscores the importance of continuous improvement in all market conditions. During difficult periods, investors should critically evaluate their strategies to discern whether problems are temporary or indicative of a fundamental change.
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The above has been prepared by Børsgade ApS for information purposes and cannot be regarded as a solicitation or recommendation to buy or sell any security. Nor can the information etc. be regarded as recommendations or advice of a legal, accounting or tax nature. Børsgade cannot be held liable for losses caused by customers’/users’ actions – or lack thereof – based on the information in the above. We have made every effort to ensure that the information in the above is complete and accurate, but cannot guarantee this and accept no liability for errors or omissions.
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In this interview, Mohnish Pabrai shares his investment philosophy and life lessons. Using personal examples from his investment career, he demonstrates how major setbacks – including a large loss in a startup before launching his fund and the significant portfolio decline during the 2008 financial crisis – ultimately strengthened his investment approach and led to substantial gains afterward.
In their recent report ‘First Eagle Reflections’, the team at First Eagle outlines key market developments and future expectations, focusing on macroeconomic trends, sector performance, and notable companies.
Their insights highlight the dynamic nature of the global economy and the importance of strategic positioning across sectors and geographies.
In his 2025 Annual Investor Presentation, Bill Ackman provides his view on Pershing Square Holdings (PSH) strategic roadmap. Bill also shares his in depth thoughts on the portfolio and key business developments in the companies he owns such as Nike, Brookfield and Uber.
In this interview, British investing icon Terry Smith, the manager of the UK’s largest stock fund Fundsmith, shares his lessons after a lifetime of investing. Terry delves into the skills, personality traits, and principles that propelled him from humble beginnings to the top of the investing world.
