How I Invest with David Weisburd

E205: How to Invest like a Billionaire w/Founder of IEQ Capital

Aug 27, 2025
Guest
Alan Zafran
Alan Zafran, Founder & Managing Partner at IEQ Capital, shares insights from nearly three decades of advising ultra-high-net-worth families. He discusses the strategic 3-12 month cash runway for risk management and the promise of secondaries in volatile markets. Zafran emphasizes the importance of careful GP selection and the nuances of investing in private credit. The conversation also highlights how personal relationships and trust shape financial guidance, especially as investors navigate rising sovereign debt and interest rates.
Ask episode
AI Snips
Chapters
Books
Transcript
Episode notes
ADVICE

Maintain A Cash Runway

  • Keep 3–12 months of spending in cash to weather personal shocks and avoid forced sales.
  • Use that runway to safely increase risk tolerance for longer-horizon holdings.
INSIGHT

Time Horizon Drives Risk Capacity

  • Time horizon determines tolerated risk: retirement accounts can take much more risk if untouched for decades.
  • Cash cushions let the rest of the portfolio pursue higher-return, illiquid or long-term strategies.
ADVICE

Allow Concentration Within A Bigger Portfolio

  • Concentrated positions can be acceptable when they represent a small slice of total wealth and offer tax efficiency.
  • Explicitly assess the holding's role within the full portfolio before concentrating capital.
Get the Snipd Podcast app to discover more snips from this episode
Get the app