Money Maze Podcast

Joel Greenblatt, a legendary investor and author, shares his wealth of knowledge from over 20 years at Columbia Business School and founding Gotham Asset Management. He emphasizes the importance of patience in investing, detailing how thorough valuation can lead to market recognition. Greenblatt discusses the active versus passive debate, stressing that passive investing suits those less equipped for in-depth analysis. He also highlights learning from investment mistakes and the significance of recognizing market inefficiencies for long-term success.

Mark Delaney, the Chief Investment Officer of AustralianSuper, shares insights from nearly 20 years at Australia's largest super fund. He discusses the evolution of Australia’s pension industry and how consolidation has benefited pensioners. Mark highlights the importance of active management over passive strategies, emphasizing infrastructure as the 'ballast in the boat.' He also explores global equities, private equity preferences, and his unique approach to commodity exposure, all while humorously noting how even markets can't distract him while surfing!

Ian Charles, co-founder of Arctos, dives into the sports investment revolution, highlighting their portfolio that includes Liverpool FC and the Boston Red Sox. He discusses the surge of new investors and the economic dynamics behind major sports franchises. Ian emphasizes the role of data in decision-making, the impact of fan engagement, and the barriers to profitable growth. He also explores the contrasting investment landscapes of North American leagues vs. European football, shedding light on strategic partnerships and the future of sports finance.

Colm Kelleher, Chairman of UBS and a pivotal figure in banking, shares insights from a remarkable career including his tenure as President of Morgan Stanley. He discusses the critical lessons learned during the Great Financial Crisis and the intense pressure of leadership during turbulent times. Colm reflects on UBS's recent Credit Suisse acquisition, the essence of banking culture, and the evolving landscape of the financial sector. He also delves into regulatory challenges, the role of large banks amidst fintech disruption, and the strategic future of UBS.

Thought-provoking, amusing, self-critical, rich with anecdotes, laced with good advice, and large servings of humility, you might not automatically assume I’m describing the book, titled 'On Leadership', just published and written by Sir Tony Blair. The discussion starts with the essential need for a leader to identify the priorities, to determine the plan, and to pursue its execution. Sir Tony Blair discusses meeting roadblocks and responses, and why the leader must stay resolute. He then opines on international affairs today; including thoughts on China, India, Russia and the Middle East. He covers higher education, lessons from Singapore’s ‘economic miracle’, and the challenges of immigration.  He shares perspectives from the Tony Blair Institute, which today advises over 40 countries, how technology can promote major leaps forward, reasons for optimism, why humility is key and why there’s no substitute for hard work! ​​The Money Maze Podcast is kindly sponsored by Schroders, IFM Investors and the World Gold Council. Sign up to our Newsletter | Follow us on LinkedIn | Watch on YouTube

Cliff Asness, Co-Founder and CIO of AQR, shares his insights into the investing world, emphasizing the importance of global diversification. He discusses the intriguing concept of "volatility laundering" in private equity, where infrequent valuations can mislead investors about risk. Asness also explores market efficiency, pointing out its nuances and the U.S.'s recent outperformance. With a personal touch, he reflects on philanthropy, advocating for concentrated giving to maximize impact.

General Sir Patrick Sanders, former Chief of the General Staff of the UK, shares his insights on a host of global threats. He assesses the geopolitical landscape influenced by Russia, China, and North Korea, advocating for a strategic response to their growing assertiveness. Sanders delves into the complexities of Middle Eastern tensions, the need for a containment strategy against Iran, and the importance of maintaining stability amidst evolving alliances. He also explores the role of technology and AI in modern warfare, emphasizing the urgent need for military modernization.

Victor Khosla, Founder and CIO of Strategic Value Partners, oversees $18 billion in credit investments. In this insightful discussion, he shares his journey from an 'Accidental Investor' to a key player in distressed debt markets. Victor compares the U.S. and European financial landscapes, pinpointing emerging opportunities amid private equity challenges. He recounts his experience with Swissport's restructuring and emphasizes the critical need for operational involvement when managing high-yield debts. Khosla also discusses the stability offered by infrastructure investments in uncertain markets.

Chris Wood, global equity strategist, discusses China's ambitions, EM debt, US corporates vs government bonds, and includes gold and bitcoin in his portfolio. He warns against G7 bonds, emphasizes the importance of orthodox monetary policy, and highlights the opportunities in Asian markets. Recorded in June 2024.

Rachel Arnold, Co-Head of Vista Equity Partners' Endeavor Fund, discusses the growth and importance of software companies, AI adoption, operational transformation, and software's economic resilience. The podcast dives into the thriving software industry, investment strategies, and the significance of software investments in business operations.