5: $300B LCP’s Dan Mikulskis on The State of Story in the Fund Industry | Why Fund Mgrs Need to Differentiate (For Real) | How Allocators Influence the Future for Boutiques
Billion Dollar Backstory
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The Importance of Having an Extra Layer in Your Portfolio
The big changes that I've seen in my sort of 20 years in the industry is moving from portfolios of stocks to portfolios of funds. The asset management mindset becomes dominated by packaging and distributing these things called funds, which people pay escalating amounts of money to keep going. And there is too much emphasis on this idea that I am buying a fund and that fund has this expected return, this risk, this characteristics and stuff. So we should focus more on the human, on the fact that you're buying a human. We'll hear more later in the show now back to the program.
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