How I Invest with David Weisburd

In this engaging discussion, Alexander Russ, Senior Managing Director at Evercore, delves into the intricacies of fundraising in private markets. He highlights why a strong first close can set the tone for success and shares the three essential rules: preparation, control, and narrative. Alexander explains how LPs are motivated by excitement rather than discounts and emphasizes the importance of relevance and tailored outreach. He cautions against weak first closes, suggesting that a well-engineered momentum strategy can make or break fundraising efforts.

In this conversation, Dr. Gregory W. Brown, a finance professor and director of the Institute for Private Capital, dives into the complexities of measuring private market returns. He highlights the challenges of risk-adjusted evaluations and why alternative investments remain under-researched. Brown explains the Kaplan–Schoar PME method for better comparisons and reveals that buyouts often outperform public markets, while venture capital struggles with alpha. He also discusses the importance of fund size, geography, and individual partner skills in driving returns.

Hamilton Reiner, CIO of J.P. Morgan's U.S. Core Equity Team, shares his insights from over 30 years in finance. He explains how using options can instill discipline and manage risks rather than being mere speculation. Hamilton highlights the behavioral mistakes investors make, the importance of staying invested, and how rebalancing can significantly enhance long-term results. He emphasizes that understanding volatility and having a risk-based approach is key to navigating market cycles effectively, offering wisdom on compounding and patience in investing.

In a compelling discussion, Patrick Ewers, founder of Mindmaven and an early LinkedIn employee, reveals why relationships are the cornerstone of professional success. He highlights how urgent tasks often overshadow building meaningful connections, leading to missed opportunities. Patrick shares practical strategies like delegation for effective relationship management, empowering leaders to save time and enhance their authenticity. He emphasizes the importance of follow-ups and provides insights on how thoughtful interactions can strengthen bonds over time.

Jamie Lee, Co-founder and Managing Partner of Tamarack Global, dives into the secrets of spotting unicorn founders. He reveals how founder referrals are the most reliable indicators of success. Jamie discusses the importance of hedge-fund-level research and the role of intuition in investment decisions. He highlights the booming humanoid robotics market and how preempting rounds can lead to bigger wins. With insights from his experience at Coatue, he emphasizes that taking risks and trusting your gut are crucial for aspiring investors.

Brian Neider, Managing Partner at Lead Edge Capital, shares his experience scaling a growth equity firm from $52M to $5B. He discusses the competitive advantage of having 700 high-net-worth LPs who actively support portfolio companies. Brian emphasizes the importance of disciplined metrics in decision-making and highlights the challenge of managing underperforming 'walking dead' companies. He also underscores the necessity of exit planning from day one, ensuring that transparency and education compound trust with LPs for long-term success.

In this discussion, Alfred Lee, Deputy Chief Investment Officer at Q Wealth Partners and former portfolio manager at BMO, shares insights on modern portfolio strategies. He explains why alpha generation is more challenging than ever and the need for alternatives in investment frameworks. Alfred also delves into the significance of inflation and its impact on real assets, and introduces his innovative 50-30-20 portfolio model. Through his experiences, he outlines the importance of liquidity planning and emphasizes diversifying across private investments for better crisis resilience.

In a captivating discussion, Peter Madsen, Director and CIO of Utah's sovereign wealth fund, shares his journey from London hedge funds to building SITFO from scratch. He emphasizes the importance of mean reversion in tough markets and how factor-based strategies can balance public and private investments. Peter explains the shift away from small caps, the appeal of micro-VC funds, and the innovative use of AI in manager selection. With a focus on purpose-driven investing, he reveals how SITFO adapts to changing market dynamics while prioritizing long-term stewardship.

Philip Benjamin, Co-founder and Managing Partner of Colzen Capital, dives into innovative pre-IPO liquidity strategies influenced by his fourth-generation real estate background. He reveals how the 2008 financial crisis reshaped his perspective on investing. Philip discusses how Colzen helps founders gain liquidity without selling, tackle executives' exercise challenges, and achieve downside protection. He also touches on the emerging asset class's growth, the concept of structural alpha, and the importance of aligning incentives with founders for mutual success.

In this engaging discussion, Rennick Palley, the founder of Stratos and a former research associate at Sanders Capital, shares insights on building top-decile crypto funds. He dives into the shift from momentum to fundamental investing in crypto and emphasizes the importance of fund size and position sizing to avoid portfolio disasters. Rennick also explores Bitcoin’s role as digital gold, the implications of gold outpacing Bitcoin, and the necessity of decisive action in investing. His expertise combines mathematical rigor with practical insights for navigating the volatile crypto landscape.