Capital Allocators – Inside the Institutional Investment Industry Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
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Dec 4, 2023 
Nicolai Tangen, CEO of Norges Bank Investment Management and former founder of AKO Capital, discusses his journey managing the world's largest sovereign wealth fund. He shares his insights on investment strategies and the unique challenges of overseeing such vast assets. Tangen emphasizes the importance of corporate culture, sustainable practices, and the integration of AI to enhance fund management. He reflects on how transparency fosters better organizational communication and explores the impact of leadership on long-term investment success.
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Interviewing Technique
- Prepare thoroughly and ask simple questions during interviews.
- Avoid complex questions or trying to appear intelligent; focus on the interviewee.
Investment Path
- Nicolai Tangen's investment journey began with economics studies in Norway and at Wharton, followed by research and hedge fund work.
- He emphasizes the importance of apprenticeship in investing, highlighting his mentors John Armitage and Bill Bollinger.
Investment Lessons
- Focus on understanding good business models, strong balance sheets, and operational leverage.
- Take calculated risks when fear is high, as that's when significant gains are made.