Capital Allocators – Inside the Institutional Investment Industry

Mike Trigg and Sanjay Ayer are key figures at WCM Investment Management, influential in shaping its growth and culture. They delve into how WCM adapted after a challenging 2022, emphasizing the importance of resilience and trust. Topics include integrating AI to enhance research, redefining investment strategies, and expanding into private markets. They also share insights on fostering a strong company culture and their commitment to innovation while navigating changes. This dynamic conversation reveals their vision for the future and the drive to continuously improve.

Paul Black, a key leader at WCM Investment Management, and Mike Trigg, a senior investment professional, share insights on transforming a struggling firm into a $100 billion investment powerhouse. They discuss the importance of culture and unconventional hiring practices, revealing how openness and trust fuel innovation. Paul recounts overcoming significant losses and embracing change, while Mike emphasizes the need for candid communication and fostering a truthful environment. Together, they highlight the role of storytelling in integrating new team members into their unique culture.

Join Paul Black, Co-CEO of WCM Investment Management, as he discusses his unique journey from a $200 million firm to managing multibillion-dollar portfolios. He dives into the art of growth investing, defining great companies by their widening moats and culture, emphasizing the significance of optimism versus traditional value investing. Paul shares lessons from early mistakes and the pivotal shift in WCM's culture, driving home the importance of gratitude and fun in a successful investment environment.

Morgan Housel, a bestselling author and partner at Collaborative Fund, delves into the art of spending money and its psychological impacts. He discusses how personal values should guide spending choices and warns against the pitfalls of envy in consumption. Morgan highlights money's role as a freedom tool rather than just a status symbol and emphasizes the importance of aligning desires with true contentment. Through engaging stories, he challenges listeners to rethink their financial habits and the motivations behind their spending.

Morgan Housel, a partner at Collaborative Fund and bestselling author, opens up about his journey since the success of The Psychology of Money. He discusses the timeless themes in his new book, Same As Ever, including the power of storytelling in finance and how narratives can drive market extremes. Morgan emphasizes the importance of managing expectations for happiness and the role of incentives in shaping behavior. With insights on compounding and risk management, he offers a refreshing perspective on navigating the investment landscape.

Morgan Housel, a partner at Collaborative Fund and author of The Psychology of Money, dives deep into the psychology behind financial decisions. He shares his unconventional journey from ski racing to writing about investing, highlighting the power of narratives in understanding money. Morgan discusses key concepts like luck versus skill, the importance of defining 'enough,' and how patience and compounding drive wealth. He also reveals his personal experiences with stuttering and his simple investment strategy, encouraging listeners to embrace reasonable financial choices.

John Graham, President and CEO of CPP Investments, leads a $730 billion Canadian pension fund. He discusses the evolution of the Canadian investment model and how it adapts to globalization. Graham shares insights on leadership, the balance of active vs. passive investing, and the significance of partnerships. He emphasizes the importance of a holistic approach in portfolio management and touches on climate investing as a financial responsibility. Additionally, Graham reflects on building a resilient organization for future challenges.

Eric Mogelof, Head of Global Client Solutions at KKR, shares his expertise on retirement markets and private investments. He discusses the $40 trillion landscape of defined benefit, defined contribution, and IRA plans. Mogelof highlights the growing appeal of alternatives in 401(k)s, the critical role of target date funds, and the barriers faced by traditional funds in adopting these investments. He predicts a gradual shift towards more private market allocations over the coming decade, especially in managed accounts and custom targets.

Matt Spielman, Founder and CEO of Inflection Point Partners, specializes in executive coaching for investment leaders. He discusses the challenges of leadership, emphasizing the need for empathy, feedback, and a clear organizational vision. Spielman highlights the loneliness faced by top executives and the value of external support. He shares insights on leadership dynamics, the importance of structured onboarding, and how AI can enhance coaching. With a focus on appreciation as a leadership tool, he explores how great leaders can translate personal motivations into collective goals.

In this engaging discussion, Matt Spielman, Founder and CEO of Inflection Point Partners, shares his journey from finance to executive coaching. He reveals his unique 'Piano Man' moment that sparked his passion for talent development. Matt explores goal-setting frameworks, the importance of aligning personal and firm objectives, and the impact of coaching on firm culture. He also addresses challenges like turnover in asset management and shares insights on what defines success and wisdom gained from his career mistakes.