The Meb Faber Show - Better Investing Wendy Li on How To Invest Like Elite Endowments | #566
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Jan 17, 2025 Wendy Li, founder and CIO of Ivy Invest, shares her extensive experience managing billions for New York endowments. She discusses the intricate strategies elite institutions use, balancing risks with evolving alternative investments. Wendy reveals her innovative approach to democratizing endowment-style investing, allowing individual investors access without accreditation. Learn about her 'Windy portfolio' blending public equities and alternatives and insights on liquidity management in today's market, highlighting the growing trend of companies remaining private longer.
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Working at the Met
- Wendy Li's colleagues assumed she would work with art at the Met, not in finance.
- A perk was enjoying the museum's art on Mondays, when it was closed to the public.
Endowment Model Pioneers
- David Swenson popularized the Yale model, which focuses on equity orientation, risk-adjusted returns, and expert managers.
- This model differs from Harvard's, which previously managed alternative investments in-house.
Navigating the 2008 Crisis
- The Met's diversified portfolio, including alternatives, helped them during the 2008 financial crisis.
- Their focus on liquidity allowed them to capitalize on opportunities as markets recovered.