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Artwork for Hard Lessons

Hard Lessons

Morgan Stanley
Real Estate
Pharmaceutical Industry
E-Commerce
Hilton Hotels
Blackstone
Claritine
Morgan Stanley
Dot-Com Bubble
Digital Infrastructure
Energy Infrastructure
Life Sciences
Autonomous Vehicles
Investment Strategy
Zetia
Multiple Sclerosis
Biotechnology
Merck
Earnings Quality
Industrial Real Estate
Senior Housing

A new series where iconic investors reveal the critical moments that have shaped who they are today.

PublishesWeeklyEpisodes6Founded2 months ago
Number of ListenersCategories
BusinessInvesting

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Artwork for Hard Lessons

Latest Episodes

BlackRock’s CIO of Global Fixed Income shares what he learned about investment sizing, liquidity and discipline by investing in breakthrough technologies and managing painful losses. He explains what drives long-term returns and why it’s critical to ... more

Legendary macro investor Stan Druckenmiller sits down with Iliana Bouzali, Global Head of Derivatives Distribution and Structuring at Morgan Stanley, to reflect on his early career and how he learned to act decisively and change course quickly when t... more

In this episode of Morgan Stanley’s Hard Lessons, Lauren Hochfelder, Global Head of Real Assets at Morgan Stanley, speaks with Chief Client Officer Mandell Crawley about her out-of-consensus calls and the lessons learned from those transformative con... more

Wellington Management CEO Jean Hynes joins Amy Ellis, Morgan Stanley’s Global Head of Senior Relationship Management, for a candid look at the pivotal investment calls that defined Jean’s career as an analyst and portfolio manager in biotech. One of ... more

Key Facts

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Recent Guests

Stan Druckenmiller
Legendary macro investor, former head of Duquesne Capital
Duquesne Family Office
Episode: Stan Druckenmiller: Invest, Then Investigate
Dan Simkowitz
Co-president of Morgan Stanley
Morgan Stanley
Episode: Jon Gray: Stay Calm, Stay Positive, Never Give Up
Christine Anderson
Head of Corporate Affairs
Blackstone
Episode: Jon Gray: Stay Calm, Stay Positive, Never Give Up

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#125
United States/Business/Investing
Apple Podcasts
#85
United Kingdom/Business/Investing
Apple Podcasts
#247
Canada/Business/Investing
Apple Podcasts
#192
Australia/Business/Investing
Apple Podcasts
#192
Italy/Business/Investing
Apple Podcasts
#25
South Korea/Business/Investing
Apple Podcasts
#25
Hong Kong/Business/Investing
Apple Podcasts
#52
Ukraine/Business/Investing
Apple Podcasts
#74
Brazil/Business/Investing
Apple Podcasts
#77
Hong Kong/Business
Apple Podcasts
#78
Norway/Business/Investing
Apple Podcasts
#82
South Korea/Business
Apple Podcasts
#91
Netherlands/Business/Investing
Apple Podcasts
#102
Switzerland/Business/Investing
Apple Podcasts
#105
South Africa/Business/Investing
Apple Podcasts
#107
Poland/Business/Investing
Apple Podcasts
#109
Japan/Business/Investing
Apple Podcasts
#114
Philippines/Business/Investing
Apple Podcasts
#115
India/Business/Investing
Apple Podcasts
#133
Ireland/Business/Investing
Apple Podcasts
#140
Singapore/Business/Investing
Apple Podcasts
#141
Argentina/Business/Investing
Apple Podcasts
#162
Austria/Business/Investing
Apple Podcasts
#194
Ukraine/Business
Apple Podcasts
#198
Chile/Business/Investing
Apple Podcasts
#212
Russia/Business/Investing
Apple Podcasts
#212
Sweden/Business/Investing
Apple Podcasts
#221
Mexico/Business/Investing
Apple Podcasts
#222
Israel/Business/Investing
Apple Podcasts
#232
Brazil/Business
Apple Podcasts
#233
Switzerland/Business
Apple Podcasts
#249
Denmark/Business/Investing

Talking Points

Recent interactions between the hosts and their guests.

Jean Hynes: Dig Deep and Hold Your Position
Q: What did you learn when Elon opened up down 90%?
Jean emphasized the importance of understanding all potential risks and the financial implications in the pharmaceutical sector when faced with high-risk investments.
Jean Hynes: Dig Deep and Hold Your Position
Q: Can you set the stage now for us on a bet that you made and how it worked out for you?
Jean shares her investment story regarding Claritin and its patent expiration, as well as her belief in Zetia's potential as a complementary treatment for patients who couldn't tolerate higher doses of their statin medications.
Lauren Hochfelder: Predict How People Will Live Tomorrow
Q: What is the hardest lesson you've ever learned?
The hardest lessons involve understanding the interplay between human nature and investing, including the importance of organizational structure and aligning incentives.
Jon Gray: Stay Calm, Stay Positive, Never Give Up
Q: What is the hardest career lesson you've faced?
The loss of a colleague during a mass shooting, highlighting the importance of supporting each other in times of personal and emotional crisis.
Jon Gray: Stay Calm, Stay Positive, Never Give Up
Q: Was there a key lesson from your Hilton investment?
Don't put too much leverage on a great business so you can sustain and survive market downturns.

Audience Metrics

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Frequently Asked Questions About Hard Lessons

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Which podcasts are similar to Hard Lessons?

These podcasts share a similar audience with Hard Lessons:

1. Thoughts on the Market
2. Capital Allocators – Inside the Institutional Investment Industry
3. Exchanges
4. The Markets
5. The Memo by Howard Marks

How many episodes of Hard Lessons are there?

Hard Lessons launched 2 months ago and published 6 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Hard Lessons?

Recent guests on Hard Lessons include:

1. Stan Druckenmiller
2. Dan Simkowitz
3. Christine Anderson

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