Capital Allocators – Inside the Institutional Investment Industry

Brian Bares, founder of Bares Capital Management, shares his journey from early investing lessons inspired by Warren Buffett to bootstrapping a $5 billion asset management firm. He discusses the art of qualitative research in identifying high-growth companies and the shift from a micro-cap strategy to a diversified approach. Key topics include investment decision-making, the critical role of management in M&A, the integration of ESG factors, and personal insights on lifestyle and mindfulness that influence his investment philosophy.

Cade Massey, a Professor at the Wharton School, specializes in judgment under uncertainty and people analytics. He shares fascinating insights on predicting performance, particularly in NFL player evaluations. The discussion covers the importance of data in talent assessment and overcoming cognitive biases in decision-making. Cade also delves into his experiences with Google and Teach for America, highlighting evolving strategies in sports analytics. Valuable advice for NFL draft allocators rounds out this engaging conversation.

Linda Xie from Scalar Capital and Jesse Walden of Variant Fund dive into the dynamic world of NFTs. Xie clarifies what NFTs are and tackles common myths, while Walden illustrates their rich potential across industries. The duo discusses the minting process, the concept of digital ownership, and how DAOs are reshaping creativity and patronage in art and gaming. They also confront the environmental concerns surrounding NFTs, advocating for sustainable practices. A riveting exploration of digital asset evolution!

Yen Liow, Founder and Managing Partner of Aravt Global, brings rich experience from Ziff Brothers Investments to discuss investment philosophies and strategies. He delves into three right tail strategies, highlighting challenges in owning compounders and the nuances of short selling. Yen emphasizes the importance of a structured approach amid market volatility and the psychological aspects of investing. His insights on risk management and team dynamics illuminate the intricate balance of capital allocation in public equity investments.

Dominic Garcia, CIO of New Mexico's Public Employees Retirement Association, shares insights from his extensive experience in public pension management. He discusses the complexities of risk-based investing and the critical separation of alpha and beta in portfolio strategies. Dominic highlights the challenges of achieving return targets in today's low-yield market and innovative approaches to tackle underfunding. He also touches on integrating cryptocurrencies into pension strategies and emphasizes the importance of authenticity and empathy in investment success.

Join Jeff Housenbold, Managing Director at Softbank Investment Advisors and former CEO of Shutterfly, as he shares his rags-to-riches story. He discusses the transformative experiences during his time at eBay and the strategic lessons learned leading the $100 billion Softbank Vision Fund. Delve into the importance of price discipline in venture capital, the evolving landscape of SPACs, and the essential traits for successful organizations. With insights on balancing work and personal life, Jeff offers a treasure trove of wisdom from his remarkable career.

Jenny Heller, President and CIO of Brandywine Group Advisors, shares her wealth of knowledge in institutional investing during this engaging conversation. They explore the unique complexities of genius and eccentricity, the transformative journey from investing to podcasting, and the necessity of adaptability in entrepreneurship. Heller emphasizes the significance of building a brand through relationships and the power of networking, especially highlighted by unique investment opportunities that arose during the pandemic.

Jennifer Heller, President and CIO of Brandywine Trust Group, shares her journey in investment management for families with long-term goals. She discusses her early experiences in microfinance across India and South Africa, which shaped her perspective on investments. The conversation highlights the importance of mentorship, selecting the right managers, and adapting strategies to align with family values. Heller also reflects on the challenges of balancing professional and personal life in finance, emphasizing the necessity of community support and intentional living.

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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.