Capital Allocators – Inside the Institutional Investment Industry

Michael Mauboussin, Head of Consilient Research at Counterpoint Global, dives deep into decision-making during financial crises. He discusses frameworks for navigating turbulent markets and the psychological effects of stress on investments. Drawing from historical insights, he explores the economic implications of pandemics. Mauboussin also examines market dispersions, the shift from public to private equity, and the importance of personal balance, including exercise, as vital during stressful times. Plus, there’s a fascinating comparison of player development in baseball versus other sports.

Michael Mauboussin, an investment strategist at Blue Mountain Capital, shares insights on the intricacies of investing. He emphasizes the importance of focusing on process over outcomes and discusses the four types of investment edges. Mauboussin highlights key behavioral traits of portfolio managers and the impact of group dynamics on market efficiency. He also explores the role of data analytics in both investing and sports, drawing fascinating parallels with lacrosse. His research reveals how understanding these elements can unlock better investment strategies.

Michael Mauboussin, Director of Research at BlueMountain Capital and an expert in decision-making, shares insights from his rich career in finance and academia. He delves into the paradox of skill in investing, discussing the balance between luck and skill that shapes outcomes. Mauboussin highlights the importance of diverse teams for optimizing investment decisions while cautioning against consensus-driven choices. He also explores the impact of data analytics in sports and cross-disciplinary approaches at the Santa Fe Institute, emphasizing the need for collaboration in understanding complex systems.

James Aitken, a leading macro strategist, dives deep into the systemic risks facing the financial system, especially during crises. He discusses vulnerabilities from past bubbles and the added pressures of health crises and geopolitical tensions. Aitken emphasizes the complex interplay of central bank actions and market dynamics in navigating these challenges. He also sheds light on the liquidity issues in credit markets, urging a cautious yet strategic approach for investors while offering a hopeful outlook on financial recovery.

Greg Fleming, the founding CEO of Rockefeller Capital Management, shares his remarkable journey from law to finance, highlighting key leadership lessons amid the 2008 financial crisis. He discusses the marriage of technology and personalized client interactions in asset management, along with the firm's strong commitment to ESG investing. Fleming reflects on his bond with Yankee legend Derek Jeter and their shared philanthropic efforts. He also emphasizes the importance of routine for personal growth and the evolving landscape of finance shaped by technology.

Christie Hamilton, Head of Investments at the $2 billion Children’s Health Medical Center of Dallas, shares her unique journey in institutional investment and the power of Twitter as an educational tool. She discusses the strategic asset allocation tailored to enhance children's health, emphasizing governance in manager selection. Christie also reveals her investment pet peeves and life lessons, showcasing the emotional challenges in decision-making and the importance of clear communication and relationships in driving success.

Mike Mauzé, General Partner at VMG Partners, shares insights from his impressive private equity career dedicated to transforming consumer brands. He discusses his journey from banking to private equity, emphasizing adaptability and the importance of relationships. The conversation dives into VMG's investment strategies, sourcing criteria, and exit strategies within the CPG landscape. Mauzé also addresses globalization's impact on brand development and shares personal lessons about health and community service, offering a well-rounded view of his professional philosophy.

Doug Phillips, CIO of the University of Rochester, shares insights from his two-decade journey managing a $2.6 billion endowment. He discusses the evolution of investment strategies, emphasizing the importance of asset allocation and manager sourcing. Key topics include the balance between private equity and hedge funds, challenges faced with real assets, and the critical role of stakeholder relationships. Doug also delves into learning from past decisions to refine future strategies while maintaining a long-term focus amid fluctuating markets.

Dan Rasmussen, Founder and portfolio manager at Verdad Advisers, aims to replicate private equity success in public markets. He discusses his research exposing risks in private equity, critiquing its overhyped returns. The conversation dives into Verdad’s strategies for portfolio construction and stock screening, emphasizing data analysis and CEO quality's surprising lack of predictive power on performance. Rasmussen also shares insights on preparing for economic downturns and the value of patience in investing, blending personal reflections with investment acumen.

A thrilling announcement kicks off the discussion of a live event set for June 18th in NYC. Some of the brightest minds in investing, including Michael Mauboussin and Annie Duke, will join to share insights. Exclusive ticket options, including discounted Founder’s Class Memberships and coveted Golden Tickets for a special dinner, add excitement. It's a unique opportunity to engage directly with past guests and industry experts.