The Meb Faber Show - Better Investing
Indexing Nevada PERS: Steve Edmundson’s $60 Billion Strategy | #527
Mar 29, 2024
Steve Edmundson, CIO of Nevada's $60 billion retirement system, discusses the simplicity of indexing all publicly traded asset classes. He shares insights on cultural approach, private markets, and impact of higher interest rates. Emphasizes quality asset allocation, fee reduction, and managing a $60 billion portfolio. Explores strategies for high-quality bias in asset allocation and navigating bizarre market landscape with zero interest rates. Discusses indexing, rebalancing, and disciplined investment strategies in market movements.
49:04
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Quick takeaways
- Steve Edmundson prioritizes simplicity over complexity in managing Nevada PERS' $60 billion fund.
- In a rising interest rate environment, public pension funds like Nevada PERS can optimize asset allocation for long-term growth.
Deep dives
Steve Edmondson's Approach to Investment Simplification and Long-Term Thinking
Steve Edmondson, the Chief Investment Officer of Nevada purrs, manages over $60 billion with an emphasis on simplicity over complexity. He highlights the importance of asset allocation and maintaining a disciplined, patient approach to investment. Edmondson's strategy focuses on high-quality assets like large-cap US companies and developed market securities, ensuring a diversified and efficient portfolio. He values a long-term outlook, advocating for a fundamental and straightforward method of investing.
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