Activist hedge fund manager Mick McGuire sat down with CNBC's Kate Kelly from the sidelines of the Sohn San Francisco Investment Conference for an exclusive educational interview on investing, running a hedge fund and some of the lessons he's learned from his career.
"I have a bias towards valuing a business based on the cash earnings that a company generates, and as soon as you deviate from that, you quickly become caught up in viewing the market as a casino," he said.
In this candid conversation, McGuire, who was previously a partner at Bill Ackman's Pershing Square Capital Management before starting his own hedge fund, Marcato Capital Management, also discusses:
- His strategy to generate excess returns.
- How to identify potential investment opportunities.
- The hedge fund managers that have influenced his investment style.
- The key characteristic of successful investors.
The full interview is available only to PRO subscribers.