Q: Nicolai, prior to your leadership of Norges, you founded and led the investment firm AKO Capital and then took time out to earn a Masters degree in Organisational and Social Psychology — and I note you studied with Professor Michael Muthukrishna, at the London School of Economics, who also contributes to this report. It’s not often we see those in finance pursuing advanced studies in the social sciences, let alone when they are far along into a successful career. What prompted this? How have those studies informed your work at Norges and the performance of the fund?
Nicolai Tangen: I’m a die-hard believer in lifelong learning. I think that the historic way of learning, where you go to university and then you work for the rest of your life, is obsolete. I decided to take time off to get a degree in art history at 36, and another in social psychology at 50. Before I studied at the LSE, I read constantly about social psychology and its impact on risk-taking. So, I just decided to study it in a more structured way. That has had a big impact on my work at Norges, because I really focused on topics that were relevant for management.
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