In his recent interview on the On Brand With Donny Deutsch Podcast, Steve Cohen says adaptability is crucial for successful investing over decades. Here’s an excerpt from the interview:
I think the key is you can’t stay static. You have to be adaptable. You have to look forward.
I’ve seen so many people over the years that had pretty good runs along the way but kind of didn’t change and didn’t kind of… cuz the world changes. What worked in the 80s or 90s didn’t work in 2000, didn’t work in 2010, and they went out of business. And I kept evolving and kept upping my game. Changing my game. And that’s what it took to stay in business.
I used to drive my management teams crazy because we’d be doing really well and I’d just want to tear down my firm and totally change it, and that’s kind of what it took to keep going. Because I was looking around the corner and saying I knew what was coming and I knew that what we had today wasn’t going to work in five/ten years.
For all the latest news and podcasts, join our free newsletter here.
Don’t forget to check out our FREE Large Cap 1000 – Stock Screener, here at The Acquirer’s Multiple: