Ted with Patrick O'Shaughnessy – Lessons from the World’s Elite Money Managers (Capital Allocators, EP.184)
Mar 22, 2021
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In a captivating chat with Patrick O’Shaughnessy, a renowned podcaster and author, the conversation dives into the essence of investing and leadership. They reflect on the evolution of the podcast and the storytelling skills that enhance interviewing. The discussion spans navigating contemporary investment complexities, the role of technology in asset allocation, and the journey of writing a second book. Touching on aspirations to engage investment legends and the importance of parental sacrifice, this conversation is both insightful and heartfelt.
The podcast started as a project with no specific goals and evolved into a popular platform for conversations with leaders in the money management industry.
Valuable lessons on interviewing, decision making, and leadership were highlighted, emphasizing the importance of clear purpose, active listening, and effective feedback.
The Capital Allocators book originated from the desire to curate valuable insights from podcast interviews and expanded to cover decision making, leadership, management, and negotiation.
Deep dives
The Evolution of the Capital Allocators Podcast
The podcast host, Ted Sides, reflects on the journey of the Capital Allocators podcast and discusses the inception and early days of the show. He shares how the podcast started as a project with no specific goals and evolved into a popular platform for conversations with leaders in the money management industry. Sides highlights the improvement in his interview style and the diverse range of guests that have been featured on the podcast, including CIOs, managers, and thought leaders. He also mentions upcoming episodes focusing on private equity, expressing his excitement for the upcoming interviews.
Lessons on Interviewing, Decision Making, and Leadership
Ted Sides discusses the valuable lessons he has learned from his guests on the topics of interviewing, decision making, and leadership. He emphasizes the importance of having a clear purpose for each interview and the value of active listening and effective feedback. Sides also shares insights on the decision-making process, highlighting the science behind portfolio construction and the challenges of governance in institutional investing. He further explores the role of technology in the investment industry, noting its impact on information efficiency and risk management. Additionally, Sides touches on the evolution of managers in both public and private markets, focusing on improvements in security selection, portfolio optimization, and behavioral bias in trading.
Writing the Capital Allocators Book
Ted Sides discusses his decision to write the Capital Allocators book and the motivations behind it. He explains how the book originated from the desire to curate and organize the valuable insights he gained from his podcast interviews. Sides shares that he initially intended the book to serve as a personal roadmap for his own future endeavors in the investment industry. However, as he delved deeper into the topics of decision making, leadership, management, and negotiation, he decided to expand the book's scope. He also mentions including a compilation of his favorite quotes from the podcast episodes in the book.
The Appeal of Private Equity Investments
Many retired hedge fund professionals are investing in private equity as they see it as an attractive investment opportunity. Despite the expensive pricing environment, these professionals believe in the potential for growth and improvement in private businesses. The success of private equity managers lies in their unique investment strategies, their collaboration with CEOs and operating partners, and their ability to navigate the current market conditions.
Effective Leadership in Investing
Leadership plays a crucial role in the investment industry, whether at the allocator, manager, or operating level. Effective leaders exhibit certain core tenets, such as having a clear vision, setting and adhering to high standards, effective communication, and providing inspiration and motivation. Successful leaders emphasize the importance of a shared vision and core principles within their organization. Leadership principles and practices can be learned from a variety of sources, including the military and sports coaches, with a focus on vision, standards, communication, and inspiration/motivation.
My new book – Capital Allocators: How the world’s elite money managers lead and invest – releases tomorrow. I’ve been on a bit of a podcast tour the last few weeks, appearing on some of my favorite shows. I thought it would be fun to share an interview about the book here, so I asked Patrick O’Shaughnessy to interview me for the show. Our conversation covers the journey of the podcast itself and lessons from the book about interviewing, leadership and investing. Pick up a copy at Amazon, and if you like what you read, there’s more behind the podcast and the book. All listeners can sign up for our free mailing list and receive a compilation of the top quotes from each of the first 150 episodes of the show. And for those interested in more, our premium content includes a weekly email, further connectivity to guests on the show, and a whole lot more. Sign up for both at capitalallocatorspodcast.com. Learn More Subscribe: Apple | Spotify | Google Follow Ted on twitter at @tseides or LinkedIn Subscribe Monthly Mailing List Read the Transcript
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