Podcast · 9 episodes
Hard Lessons
by Morgan Stanley · English
A new series where iconic investors reveal the critical moments that have shaped who they are today.
Latest episodes
Brad Jacobs: Question Deeply, Act QuicklyHard Lessons episode with CEO Brad Jacobs on out-of-consensus investing, fast execution, and communicating pivots; includes one successful “off-consensus” deal (Conway) and one major “stinker”…27 Aug 2026 · 20 min
Jean Eric Salata: Find the Comeback in the SetbackJean Eric Salata (EQT Group) discusses “hard lessons” from setbacks and two out-of-consensus investment calls—one successful (Nord Anglia Education) and one that initially failed (India…13 Jul 2026 · 22 min
Bonus: I Say Economy, You Say…with Stan DruckenmillerA bonus “Hard Lessons” episode featuring macro investor Stan Druckenmiller on how to invest in real time, what macro data misleads, and what risks and themes matter.18 Jun 2026 · 12 min
All episodes
Brad Jacobs: Question Deeply, Act QuicklyHard Lessons episode with CEO Brad Jacobs on out-of-consensus investing, fast execution, and communicating pivots; includes one successful “off-consensus” deal (Conway) and one major “stinker”…27 Aug 2026 · 20 min · 10 chapters
Jean Eric Salata: Find the Comeback in the SetbackJean Eric Salata (EQT Group) discusses “hard lessons” from setbacks and two out-of-consensus investment calls—one successful (Nord Anglia Education) and one that initially failed (India…13 Jul 2026 · 22 min · 10 chapters
Bonus: I Say Economy, You Say…with Stan DruckenmillerA bonus “Hard Lessons” episode featuring macro investor Stan Druckenmiller on how to invest in real time, what macro data misleads, and what risks and themes matter.18 Jun 2026 · 12 min · 6 chapters
Rick Rieder: The Market Doesn’t Care If You’re RightRick Rieder argues markets are driven by emotion and crowd psychology, so being “right” often matters less than managing risk, liquidity, and having an exit plan.9 Apr 2026 · 25 min · 13 chapters
Stan Druckenmiller: Invest, Then InvestigateIn this episode, legendary macro investor Stan Druckenmiller discusses critical moments from his early career, portfolio construction, and insights on investing with Iliana Bouzali from Morgan…27 Feb 2026 · 36 min · 17 chapters
Lauren Hochfelder: Predict How People Will Live TomorrowA series where iconic investors reveal the critical moments that have shaped who they are today.19 Feb 2026 · 25 min · 12 chapters
Jean Hynes: Dig Deep and Hold Your PositionA series where iconic investors share critical moments that shaped their careers.12 Feb 2026 · 22 min · 11 chapters
Jon Gray: Stay Calm, Stay Positive, Never Give UpStay Calm, Stay Positive, Never Give Up3 Feb 2026 · 22 min · 9 chapters
Introducing Hard LessonsA new series where iconic investors reveal the critical moments that have shaped who they are today, sharing both successes and failures.29 Jan 2026 · 1 min · 1 chapter