Capital Allocators – Inside the Institutional Investment Industry Ted on Alt Goes Mainstream (EP.458)
52 snips
Sep 8, 2025 
In this engaging discussion, Michael Sidgmore, a Partner at Broadhaven Ventures specializing in the fusion of finance and technology, delves into a variety of compelling topics. Listeners will explore David Swensen's enduring legacy in investment, the intriguing dynamics between private equity and hedge funds, and the crucial impact of behavioral biases in selecting managers. Sidgmore also emphasizes the importance of authentic connections in the investment community and examines how AI is reshaping decision-making and content strategies in asset management.
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Early Education Under David Swenson
- Ted joined Yale out of college and worked for David Swenson early in his career.
- He learned investment discipline and first-principles thinking from daily exposure to Swenson's process.
Separate Market Beta From Manager Alpha
- Apply first principles: identify what the market gives (beta) and what you can extract (alpha).
- Use low-cost diversified exposures for beta and reserve active efforts for genuine alpha sources.
Dispersion Makes Manager Selection Critical
- Private markets show wider dispersion, so top-quartile managers drive outsized returns.
- The wealth channel lacks the institutional depth to consistently identify and access those top quartile managers.