Nicolai Tangen: Managing the Largest Sovereign Wealth Fund in the World | E1122
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- Опубликовано: 8 июн 2024
- Nicolai Tangen is the CEO of Norges Bank Investment Management, the largest sovereign wealth fund in the world with $1.55 Trn in assets, owning on average, 1.5% of every listed company. Tangen was previously Chief Executive Officer and Chief Investment Officer in AKO Capital, which he founded in 2005. Prior to this, Tangen was a partner and senior analyst at Egerton Capital and an equity analyst at Cazenove & Co.
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Timestamps:
(00:00) Intro
(00:31) Childhood Background
(01:21) Discovering a Passion for Finance
(03:50) Biggest Needle-Moving Moment
(04:42) Advice on Pursuing an MBA for the Next Generation
(05:06) Shift to CEO Role
(07:05) Market Expectations Amid Lackluster Returns
(08:51) Investing in Unchanging Favorites
(11:02) What’s on Nicolai’s Mind?
(11:56) Challenges in Long-Term Investing
(14:24) Praises for Sovereign Wealth Fund Approaches
(15:40) Key Economic Metrics for CEOs
(19:12) Future of Data in Central Banking
(20:08) Nicolai’s Content Consumption
(22:32) US Tech Firm Concentration Insights
(25:35) Qualities of The Best Investors
(26:48) Evaluating Regulatory Concerns in Europe
(28:25) "When Will NBIM Hold Bitcoin?"
(29:43) Psychology & Confidence in Investing
(30:47) Climate Costs & Investment Strategies
(32:24) Why People Are Investing in Norway
(33:18) Work & Life Balance Insights
(34:27) Fatherhood & Parenting
(35:19) Building a Culture of Open Communication
(36:31) Most Memorable Meetings with CEOs
(40:50) Quick-Fire Round
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In Today’s Episode with Nicolai Tangen We Discuss:
From Religious Town in Norway to Leading the Largest Sovereign Wealth Fund:
What was Nicolai like as a child? How would his parents have described him?
Why does Nicolai think that loners have a greater chance/ability to make money?
What does Nicolai know now that he wishes he could tell a 20-year-old Nicolai?
The Top 10 Questions:
1. US Tech Firm Concentration: Is Nicolai concerned by the concentration of enterprise value in US tech firms? Have incumbents ever been as strong as they are today?
2. Impact of AI: What does Nicolai believe the impact of AI will be on society and productivity? What is his approach to investing in it moving forward?
3. Bitcoin: Why does Nicolai not want to hold Bitcoin? Why does he not understand it?
4. China: What would need to happen for China to be investable? How will the China situation play out?
5. Europe: Does Nicolai believe Europe is so far behind the US? Why? What can we do to improve?
6. Climate Change: How does Nicolai approach investing in climate? What works? What does not?
7. Sam Altman: Would Nicolai invest in Sam’s new $7Trn project? What are some of Nicolai’s biggest lessons from the time he has spent with Sam?
8. Investment Psychology: How does Nicolai retain a neutral investor psychology? How does he not get too up when doing well and too low when not doing well?
9. Investing Lessons: What are Nicolai’s biggest investment hits and misses? What did he learn from them?
10. The Future: Why is Nicolai so optimistic about the future? What is he concerned about? How will we overcome our greatest challenges?
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Please stop butting in when he's talking, I know you're trying to be personable but it really detracts from the listening experience.
Focus less on the next question, and more on his answers. Go into some of these topics further. Maybe have a lighting round at the end..but try think about quality > quantity. I’m getting question fatigue.
See Tim Ferris interviews for a good example.
Thanks for this one! Great guest.
What a great talk, Nicolai is so sharp and intelligent.
Incredible guest, Harry! Very well done!
Glad you enjoyed it!
let the guy talk harry 😂
Awesome episode Harry, and especially like that it was offline 👌
Nicolai is grteat, but this interviewer is horrible... Interrupting and only allowing 5 sec answers on every question...
What a brilliant person. This guy will go places.
Kind of feels like he has arrived when he runs the largest wealth fund in existence...
To be fair. He was a billionare before he became CEO of the fund. That is literally part of the reason he was hired.
@@davidtobiasseeland6013Millardær i kroner ikke i dollar. Han er god for rundt 800-900 millioner dollar så ikke langt unna
Superb interview! What a pleasure to tune in and listen.
Glad you enjoyed it!
This was a great great podcast, great questions. But as others have stated, let the answers breath a little bit and sometimes felt like Nikolai hurrying thru the answers-
Very, very good questions from Harry!
Awesome interview with a great guest. Some valuable things to think about related to investing. Thank you for sharing this with us!!
Thank you for the support!
Inspiring interview.
Awesome interview👍
Its not about the money its finding something u love to do
Brilliant interview.
Thank you so much for tuning in!
Very good interview, really enjoyed it.
Thanks for listening!
Incredible interview
The host asked a short and concise provoking questions!
And happy is a state of mind !if u like what u do and it makes u happy then your winning
Man that was good. And I’m in Public Investment Fund!
Thank you, glad you enjoyed it!
Nicolai is Norwegian TOP G
Free Gaza from Hamas.
"Greed is good." -Gordon Gecko @ 17:50
wouldyou please make poadcast on the topics of cybersecurity CEO
Ya its not the money its the freedom
It’s a bit arrogant to think that never-ending interrupting would improve the value of the conversation. Even if driven by excitement
Every country should nationalize their primary industries and invest the profits responsibly like Norway has. They've proved you don't have to be an authoritarian country to have working socialist policies.
Cuba nationalized all the primary industries. They're still a sh!th0le.
A sovereign wealth fund is not socialism.
The more I listen to the interruptions, the more I want to say “ shut up!”
Why does Nicolai have a Russian first name?
Nikolai or Nicolai is a very common norwegian name. Had 5 of them just in my year at high-school
It has A greek origin and is in the top 10 list of most common names in norway
loners & inferiority complex
stopwatch deadlines
job requirements
the creativity increases with learning different things or even same things from different people
Respectfully, be silent. Let your guests speak, let them finish their thoughts instead of trying to impress him with your brilliant questions. I’m genuinely annoyed.
Don’t like the host’s views on regulation, Adam Smith, loved EVERYTHING Nicolai thought!! The host thought he was talking to a fellow capitalist bro, thank goodness Nicolai had more common sense.
Stfu let the $1.2Tn guy talk
I reckon he stopped being a loner and being more outgoing because he got handsome. Bloke is a good looking man
You got a list of top 10 questions but no timestamps and I can't find them in the interview. 🫠