Peter Phan from Castlereagh Equity - Mental Models [Throwback]

·2 hr 42 min·5 clips

A former card counter reveals how casino strategies taught him to spot statistical edges in the stock market.

Portfolio manager Peter Phan shares his journey from a Malaysian fishing village to founding Castlereagh Equity, discussing how his experiences with card counting, law, and mental models shape his value investing approach. He explores topics like the efficient market hypothesis, circle of competence, and the importance of management integrity, offering a multidisciplinary perspective on investing as a subset of understanding life.

As heard by us

A combative case for why markets still leave room for outliers.

The episode pushes back hard against the neat version of efficient markets: average results do not explain everything, and outliers still matter.

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Why you'd press play

A forceful rethink of the efficient markets hypothesis, outliers, and why survival logic changes the risk story.

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