Capital Allocators – Inside the Institutional Investment Industry Ashvin Chhabra – The Aspirational Investor (Capital Allocators, EP.260)
Jul 4, 2022
Ashvin Chhabra, President and CIO of Euclidean Capital and author of "The Aspirational Investor," shares his journey from physicist to investment strategist. He introduces the innovative "Beyond Markowitz" portfolio framework, tailored for high net worth individuals and institutions. The conversation explores the ethical challenges in finance, the transformative impact of technology on wealth management, and a critical view of endowment strategies. Ashvin also discusses the influence of human behavior on investing and his evolving thoughts on Bitcoin.
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Early Life and Physics
- Ashvin Chhabra's childhood dream was to be a physicist, inspired by Asimov and Einstein.
- Chess proficiency secured him admission into St. Stephen's College to pursue physics.
Transition to Finance
- Ashvin transitioned from physics to finance, landing a job at First Chicago in fixed income derivatives trading.
- He declined a trading book, recognizing traders had a "free option" on firm capital, incentivizing excessive risk-taking.
Genesis of Goals-Based Investing
- At J.P. Morgan, Ashvin helped build an early robo-advisor, driven by the internet's disruption of traditional finance.
- This experience led to the genesis of goals-based investing, focusing on the purpose of money and individual financial goals.
