Capital Allocators – Inside the Institutional Investment Industry

Brian Portnoy, Director of Investment Education at Virtus Investment Partners, simplifies the world of finance for better decision-making. He explores his journey from academia to hedge funds, reflecting on collaboration and integrity amid market chaos. The discussion contrasts institutional investing with wealth management, highlighting the need for clear communication. Portnoy introduces 'funded contentment' to redefine wealth versus richness and emphasizes the importance of financial education. Plus, insights on luck in investing and his love for reading and board games add a personal touch.

Annie Duke, a decision-making expert and former world-class poker player, shares her fascinating insights on navigating uncertainty. She discusses the challenge of separating valuable information from noise in decision-making and the importance of collaborative thought. Duke highlights cognitive biases, particularly confirmation bias, and promotes a culture of open communication in teams. She shares compelling anecdotes from her poker days, particularly about being a woman in a male-dominated field, wrapping up with lessons from the intersection of poker and strategic decisions.

Sandra Robertson, the savvy CEO and CIO of OU Endowment Management, shares her insights on navigating market challenges. She discusses portfolio calibration amid volatility and emphasizes opportunity assessment in uncertain times. With a focus on strategic adaptability, she introduces a traffic light system for evaluating investment health. The conversation also covers the importance of maintaining productivity and liquidity management during crises, making for an engaging discussion on investment strategies in turbulent markets.

Sandra Robertson, CEO and Chief Investment Officer of OU Endowment Management, shares her remarkable journey from stockbroker to endowment manager. She discusses navigating market volatility and the crucial role of mentorship in her career. Robertson elaborates on strategic asset allocation, including the integration of public and private equity, while addressing the complexities of fees and ESG considerations. Her insights into resource efficiency and innovative investment approaches provide a fresh perspective on modern investment strategies.

Steve Nelson, CEO of the Institutional Limited Partners Association (ILPA), discusses his extensive experience and the vital role of ILPA in supporting limited partners. He shares insights into the current challenges facing private asset allocators, such as communication hurdles and the evolving landscape of impact investing. Nelson emphasizes the need for transparency and structured reporting between limited partners and general partners. He also reflects on the importance of adaptive strategies during turbulent economic times while promoting a proactive approach to capital management.

Eric Peters, Founder and CIO of One River Asset Management, shares his extensive trading journey that began in the Chicago pits. He reveals insights on the shocking fall of Peloton and stresses the importance of risk management in investing. Eric discusses the evolution of investment strategies in today’s volatile market and reflects on how his "Weekend Notes" enhance his engagement with the industry. Balancing work and family life, he emphasizes mentorship's life-changing power.

Mark Baumgartner, CIO of the Institute for Advanced Study, expertly manages a $1 billion portfolio. He shares his strategic approach to navigating financial crises, highlighting the evolution of communication within his team during turbulent times. Mark discusses the significance of trusting existing managers while exploring new opportunities in private credit and distressed assets. He also emphasizes the balance between intuition and data when assessing risks and adapting portfolios, all while maintaining invaluable industry relationships.

Mark Baumgartner, CIO of the Institute for Advanced Study, oversees a $1 billion portfolio aiming for median returns with low risk. He shares his unconventional journey from aspiring rocket scientist to investment management, highlighting how luck and education shaped his career. The discussion dives into risk management strategies, manager selection nuances, and the importance of a disciplined approach during market crises. Baumgartner also reflects on the unique mission of the Institute and the role of curiosity in fostering knowledge and creativity.

Jen Prosek, Founder and CEO of Prosek Partners and a two-time author, shares her insights on branding in the asset management world. She discusses the challenges of marketing, measuring branding success, and managing narratives during tough times. Jen offers fascinating perspectives on raising entrepreneurial children and working with millennials and Gen Z. The conversation emphasizes the importance of emotional intelligence, authentic communication, and the transformative power of asking questions in business.

Ben Inker, head of the Asset Allocation team at GMO, brings nearly thirty years of experience to the table. He shares valuable lessons from his Yale professors and discusses the struggles of value investing in today's tech-driven economy. Among key topics, he highlights the challenges facing value strategies and how government intervention impacts economic stability. Inker also emphasizes the need for critical thinking in investment decisions and reflects on the importance of understanding market dynamics for successful portfolio management.