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Invest Like the Best with Patrick O'Shaughnessy
Sam Hinkie – Data, Decisions, and Basketball - [Invest Like the Best, EP.88]
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Show Notes
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I came across this week’s guest thanks to the overlap of three passions of mine: data informed investing, value creation, and basketball. Sam Hinkie worked for more than a decade in the NBA with the Houston Rockets, and then most recently as the President and GM of the Philadelphia 76ers. He helped launch basketball's analytics movement when he joined the Houston Rockets in 2005, and is known for unique trade structuring and a keen focus on acquiring undervalued players. Today, he is also an investor and advisor to a limited number of young companies in which he feels his experience can improve outcomes.
Please enjoy this unique episode with Sam Hinkie.
Show Notes
– (First Question) Advantages of having a long view and how to structurally harness one
– Using technology to foster an innovative culture
– Empire of the Summer Moon: Quanah Parker and the Rise and Fall of the Comanches, the Most Powerful Indian Tribe in American History
– Favorite example of applied innovation from Sam’s career
Most fun aspect of doing data analytics early on the Houston Rockets
Is there anything more important than courage in asymmetric outcomes
– How does Sam know when to let the art of decision making finish where the data started
Pros and cons of a contrarian mindset
– Where he wanted to apply his knowledge in sports when first getting out of school and how his thinking is best applied in the current sports landscape
– How does he think about trying to find the equivalent of mispriced assets in the NBA
– Where tradition can be an impediment to innovation
– What did the team and workflow of the team look like in the front office
The measure of truth in a sports complex
– What were the early factors coming out of the data that helped to shape NBA teams
– Best tactics for hiring
– Process of recruiting spectacular people
– Thoughts on fostering a good marriage
– Picking your kids traits in your spouse
– Selfish Reasons to Have More Kids: Why Being a Great Parent is Less Work and More Fun Than You Think
– What kind of markers does he look for when evaluating long term investment ideas
– His interest in machine learning
– What’s more exciting, the actual advances in machine learning or the applications that can be imagined as a result
– International Justice Mission
– How he got started teaching negotiations and some of the points he makes in that class
– Effective techniques for negotiating
– Is negotiating contentious, do you need empathy
– A Rorschach test of Sam based on his reading of Lessons of History (book)
– Biggest risk Sam took in his career
– Biggest risks Sam took while with the 76ers
– Do people undervalue asymmetric outcomes in the NBA – The players Sam has enjoyed watching over the years
– Why Robert Caro is a favorite author of his
– Kindest thing anyone has done for Sam
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