Capital Allocators – Inside the Institutional Investment Industry Chas Cocke - From Allocator to Manager (Capital Allocators, EP.224)
Nov 29, 2021
Chas Cocke, founder of LB Partners and former co-founder of Investure, shares his unique journey from allocator to direct stock picker. He reflects on transformative lessons learned at UVIMCO and emphasizes the key traits of successful investors, particularly in identifying hidden growth like in MoneyGram. Cocke discusses his innovative digital infrastructure index, BYTE, and explores the balance between confidence and humility in investment strategies, along with personal insights on trust and the perception of time.
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Early Investment Experiences
- Chas Cocke's first investment experiences involved collecting and analyzing baseball cards in his youth.
- His early stock picks included GE, Microsoft, Cisco, and Thiokol, driven by his interest in the burgeoning airbag industry.
Career Start
- Cocke's interest in finance led him to investment banking, but he quickly realized it wasn't his passion.
- He transitioned to UVIMCO, UVA's endowment, after learning about an opening from his mother.
UVIMCO's Hedge Fund Focus
- At UVIMCO in 2002, the endowment had a significant allocation to hedge funds (55%), contrary to common practice.
- Cocke's focus was on long-short equity hedge funds and concentrated long-only managers.