Capital Allocators – Inside the Institutional Investment Industry

David Morehead – Top Down Allocation at Baylor (EP.381)

Apr 22, 2024

01:08:46

Snipd AI

David Morehead, CIO at Baylor University, shares insights on top-down allocation in institutional investing. He discusses his unique approach, risk management, portfolio construction, and manager selection. The podcast also covers his diverse finance career, investment categories, manager selection process, personal hobbies, and the power of kindness in professional growth.

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Quick takeaways

David Morehead emphasizes a top-down investment approach aligning with economic cycles and credit market conditions.

Prioritizing risk management and quality assets, Baylor's portfolio focuses on downside protection and resilience during downturns.

Manager selection at Baylor involves prioritizing humility and flexibility, seeking partners who can adapt to market dynamics.

Deep dives

Investment Platform Overview

TenEast offers access to private markets, providing opportunities in private credit, real estate, venture capital, and private equity. The team, led by Michael LaFell, emphasizes co-investment by committing personal capital to each opportunity. With a track record of over a decade in investing across 350+ transactions, they focus on diligencing and monitoring investments meticulously.

Learning from Larger Endowments and Foundations

00:48

Long-Term Investing in Small Caps Amid Market Conditions

01:48

Continuous Portfolio Evaluation for Maximizing Returns

01:35

Choosing Managers for Investment Portfolio

01:10

Introduction

2min

Exploring Capital Allocation with David Moorhead at Baylor University and Introduction of ChatGP Ted AI Tool

3min

Navigating a Diverse Finance Career Path

25min

Navigating Investment Categories and Strategies in Institutional Portfolios

10min

Navigating Investment Manager Selection

24min

Personal Hobbies, Safety Tips, and Pet Peeves Revealed

2min

Professional and Personal Guidance, Life Lessons, and the Power of Kindness

4min

David Morehead is the CIO at Baylor University, where he oversees the $2.2 billion endowment. David came to Baylor thirteen years ago after an eighteen-year investment career that spanned every aspect of public markets investing. He created an approach to investing at Baylor that is quite different from others in the seat. David recently started sharing his insightful perspectives on the craft on Twitter/X under the handle @CIO_Baylor.

Our conversation covers David’s background and path to Baylor, the three styles of endowment management pursued in the industry, and the thematic top down approach he employs. We discuss his implementation of that approach across risk management, portfolio construction, private markets, manager selection, and turnover.

Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

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