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2019
Podcast
André Bourbonnais – Blackrock Long-Term Private Capital (First Meeting, EP.03)
by Ted Seides
André Bourbonnais is a Managing Director at Blackrock and Global Head of its newly launched Long-Term Private Capital business, a...
2019
Endowment
Higher Ed
Research on University Board Members and Endowments
If you're a fund manager in private equity or venture capital, your alma mater might call on you to serve...
2019
Sovereign Wealth Fund
Integrating ESG to Investment Decision Making
by Ashby Monk
Investors still struggle to integrate ESG into their decisions. Why? 1) They can't evaluate the ESG data quality, and 2)...
2019
Sovereign Wealth Fund
Malaysia’s Sovereign Wealth Fund Investing in Tech
by Ashby Monk
Malaysia's Khazanah appears set to bolster its technology investing chops. I expect this may also mean bolstering or expanding its...
2019
Sovereign Wealth Fund
Angola’s Sovereign Wealth Fund New Lease on Life
by Ashby Monk
Angola's SWF has a new lease on life, albeit smaller, which is still noteworthy given all the shenanigans over the...
2019
Podcast
Richard Lawrence – Overlook Investments Group (First Meeting, EP.03)
by Ted Seides
My guest on today’s First Meeting is Richard Lawrence of Overlook Investments Group, one of the top managers of...
2019
Carnegie Mellon
Private Equity
Carnegie Mellon Research on Private Equity IRR
A couple of Carnegie Mellon professors looked into how private equity funds have used subscription lines of credit to improve...
2019
Panama’s Sovereign Wealth Fund – One of the Newest
by Ashby Monk
An update on one of the newest SWFs on earth (Panama) in an article with an update on the...
2019
Ashby Monk’s Tweet Storm on Consultant Misaligned Incentives
by Ashby Monk
https://twitter.com/sovereignfund/status/1146454035655880704 https://twitter.com/sovereignfund/status/1146454040210837509 https://twitter.com/sovereignfund/status/1146454044040282112 https://twitter.com/sovereignfund/status/1146454048230400000 https://twitter.com/sovereignfund/status/1146454051875258368 https://twitter.com/sovereignfund/status/1146454056405102593 https://twitter.com/sovereignfund/status/1146454059781541889 https://twitter.com/sovereignfund/status/1146454063254347777 https://twitter.com/sovereignfund/status/1146454067318681600
2019
Power of External Strategic Partnerships
by Ashby Monk
Ashby Monk's latest paper on knowledge management in institutional investment focuses on the power of external strategic partnerships to...
2019
Podcast
Ash Williams – Florida SBA’s Reigning Chief (EP.104)
by Ted Seides
Ash Williams is the Executive Director and CIO of the Florida State Board of Administration, where he oversees $200...
2019
Monthly Email
Capital Allocators Monthly – June 2019
by Ted Seides
Announcements and Gratitudes * We've added a new stream of content to the blog. Stanford Professor Ashby Monk (see Episode 29)...
2019
Budget
Newbury College
Schools are shutting down throughout the country. Some of the conditions contributing to this perfect storm are of the institutions’...
2019
Emory
Endowment
A year ago Emory University hired a new Chief Investment Officer. In his role as CIO, [Srinivas “Srini”] Pulavarti will...
2019
Columbia
Endowment
Compensation at Columbia Endowment
How much does a Chief Investment Officer at an Ivy League school make? Endowment chiefs at Ivy League and other...
2019
Pods
Sam Sicilia – Seizing on a Long Time Horizon at HostPlus (EP.103)
by Ted Seides
Sam Sicilia is the Chief Investment Officer of HostPlus, Australia’s AUZ 37 billion ($25B USD) Superannuation Fund. Sam joined HostPlus...
2019
Endowment
Mount Holyoke
Be the First CIO at Mount Holyoke Endowment
There is an opportunity to become the first Chief Investment Officer for one of the oldest Seven Sisters schools. Mount...
2019
Endowment
Yale
David Swensen to Teach Future Fund Managers at Yale
Are you a couple of years out of college? Do you want to become a fund manager? There is a...
2019
Venture Capital
Scott Kupor Spilling Venture Capital Secrets
Scott Kupor, who is the Managing Partner of Andreessen Horowitz, just published a book called Secrets of Sand Hill Road....
2019
Stanford
Venture Capital
Stanford GSB on Venture Capital Secrets
The world of venture capital was mostly overlooked till recently. Now the Stanford Venture Capital Initiative at the business school...
2019
Podcast
Martin Whittaker – JUST Capital (First Meeting EP.02)
by Ted Seides
Martin Whittaker is the founding CEO of JUST Capital, a non-profit created by a group of concerned, influential leaders, including...
2019
Harvard
Philanthropy
Should a school return a gift years after accepting it? When asked for the gift policy, [University spokesperson Jonathan L.]...
2019
Hedge Fund
Risk Management
Understanding Hedge Fund Risks
There are risks to all forms of investing, especially in hedge funds. The Principles and Best Practices for Hedge Fund...
2019
Due Diligence
Hedge Fund
Proper Hedge Fund Due Diligence
The Principles and Best Practices for Hedge Fund Investors report was issued during the financial crisis ten years ago. In...
2019
Hedge Fund
Portfolio Management
If you want to build a hedge fund program, you can study a report issued ten years ago by the...
2019
Pods
Jon Wertheim – Sports AND… (EP.102)
by Ted Seides
Jon Wertheim is a sports journalist and author who has a passion for psychology and economics. He is the Executive...
2019
Foundation
Venture Capital
Irvine Foundation CIO Tim Recker on Venture Capital
Last year Tim Recker was asked whether venture capital was in a bubble. Back to venture, is it a bubble?...
2019
Endowment
Texas PSF
Texas Permanent School Fund History
The Texas Permanent School Fund was one of the first sovereign wealth funds ever created. The Texas Permanent School Fund...
2019
ILPA
Investing
ILPA Due Diligence Questionnaire Template
If you are fundraising for your first fund, the Institutional Limited Partners Association (ILPA) prepared a template due diligence questionnaire...
2019
Cornell
Venture Capital
Josh Wolfe on Science Fiction at Cornell
Josh Wolfe, the founder of Lux Capital, spoke to students at Cornell earlier this year on the type of startups...
2019
Podcast
Capital Allocators Presents: First Meeting with Ted Seides
by Ted Seides
I'm excited to announce the launch of a spinoff of capital allocators called first meeting. First meeting episodes will be...
2019
Podcast
Patrick O’Shaughnessy – O’Shaughnessy Asset Management (First Meeting, EP.01)
by Ted Seides
Patrick O’Shaughnessy is the CEO of O’Shaughnessy Asset Management, the host of the Invest Like the Best podcast, and a...
2019
Columbia
Endowment
Job Duties at Columbia Endowment
What are the responsibilities of a Director of Investments inside an endowment? Ongoing development of the portfolio, including the contribution...
2019
Duke
Endowment
Three years ago, Congress asked 56 schools to provide more information on their endowments. Duke responded. Like many educational, cultural...
2019
Endowment
Stanford
Stanford CIO Rob Wallace on the Endowment
Last week Rob Wallace gave a brief interview on the endowment with the school newspaper. You can think of the...
2019
Dartmouth
Endowment
Ivy League schools these days are billion-dollar enterprises. The College reported over $1.435 billion in total revenue, including $404 million...
2019
Monthly Email
Capital Allocators Monthly – May 2019
by Ted Seides
Announcements and Gratitudes * Last month I wrote that I'm looking for my next opportunity to manage capital. I received...
2019
Pods
Khe Hy – Radical Shift from Investing to Purpose (EP.101)
by Ted Seides
Khe Hy rose to be one of the youngest Managing Directors at Blackrock’s hedge fund of funds business. In his...
2019
Foundation
Portfolio Management
Job Duties at the Packard Foundation
There are a few roles open at the David and Lucile Packard Foundation. Do you have a background in private...
2019
Endowment
Harvard
Three years ago, Congress asked 56 schools to provide more information on their endowments. Harvard published their response online. The...
2019
Endowment
Vanderbilt
Vanderbilt CIO Anders Hall on Due Diligence
When talking to an institutional investor during due diligence, a fund manager should expect to be analyzed as a person....
2019
CFA Institute
Investing
CFA Institute Book on Manager Selection
If your job is to evaluate fund managers, the CFA Institute published a book on manager selection. The task of...
2019
Morehouse
Philanthropy
Paying It Forward at Morehouse College
For commencement speakers worldwide, it will be difficult to top this. Then their commencement speaker went off-script with an extraordinary...
2019
Endowment
MIT
Three years ago, Congress asked 56 schools to provide more information on their endowments. One of those schools, MIT, published...
2019
Endowment
UCLA
UCLA CIO Justin Barton on Emerging Managers
If you are a new fund manager, what type of investor should you look for? There are so many different...
2019
Foundation
Venture Capital
Carnegie Corporation CIO Kim Lew on Venture Capital
A few years ago Kim Lew was asked whether venture capital was in a bubble. The very nature of venture...
2019
Pods
Tim Recker – Concentration at the James Irvine Foundation (EP.100)
by Ted Seides
Tim Recker is the Chief Investment Officer of the $2.4 billion James Irvine Foundation. He joined the foundation in...
2019
Endowment
Stanford
Former Stanford CIO Laurie Hoagland on Alternatives
Fourteen years ago, a profile of Laurie Hoagland was published on Institutional Investor. Laurie was the first CEO of Stanford...
2019
Columbia
Investing
Columbia Business Professors on Investment Edge
Any young analyst searching for investment opportunities should focus on discovering their edge. We want to hammer home this point...
2019
Endowment
Harvard
Restructuring Pay at Harvard Endowment
How much does a University President make? How about an endowment chief? Who makes more? Faust Made $1.7 Million in...
2019
Endowment
Princeton
Enhancing Manager Selection at Princeton Endowment
Last year Andy Golden, the President of Princeton University Investment Company (PRINCO), advised how we should invest. Look beyond long...
2019
Pods
Michael Mauboussin – Who’s on the Other Side? (EP.99)
by Ted Seides
Michael Mauboussin is the well-known investment strategist currently plying his wares at Blue Mountain Capital. He joined me for the...
2019
Investing
Wharton
Blockchain Conference Discussing Crypto at Wharton
The Penn Blockchain Club at Wharton held their second annual conference on blockchain and cryptocurrencies. Ari Paul, the Chief Investment...
2019
UCLA
University
One Hundred Years of Education at UCLA
UCLA is celebrating its centennial this year. The seeds of today’s UCLA were planted in the 1881 creation of the...
2019
Boston Children's
Endowment
Boston Children’s CIO Phil Rotner on Investment Strategy
A couple of years ago, Phil Rotner shared what distinguished his team's investment strategy. I think that when one looks...
2019
CFA Institute
Endowment
CFA Institute Primer for Investment Trustees
The CFA Institute published a second edition of its primer for investment trustees a couple of years ago. The book...
2019
Pods
Jon Hirtle – The Pioneer of OCIO (EP.98)
by Ted Seides
Jon Hirtle is the Executive Chairman at Hirtle, Callaghan & Co., a $20 billion Outsourced CIO business he founded in...
2019
Monthly Email
Capital Allocators Monthly – April 2019
by Ted Seides
Announcements and Gratitudes * I’m looking to bring together what I’ve been developing the last two years - managing a...
2019
Endowment
Yale
Yale CIO David Swensen on Investment Track Records
A couple of years ago, David Swensen was interviewed at the Council on Foreign Relations. Near the end, he was...
2019
HBS
Private Equity
HBS Research on Unequal Private Equity Pay
Endowments invest in private equity funds through partnerships. They look for small teams of investors who have worked together and...
2019
Endowment
UVA
Former UVIMCO CIO Larry Kochard on Asset Allocation
Last year, Larry Kochard shared how his views changed on asset allocation from a decade ago when he wrote the...
2019
CFA Institute
Endowment
CFA Institute Primer on Alternatives
The CFA Institute published a primer on alternatives. It defines alternative investments as anything that is not an ordinary stock...
2019
Pods
Matt Levine – Money Stuff (EP.97)
by Ted Seides
Matt Levine writes Money Stuff, a brilliant daily financial newsletter on Bloomberg View. His column discusses current events in corporate...
2019
Investing
Wharton
Oaktree Howard Marks on Emotions at Wharton
Last year Howard Marks was interviewed as part of an Investor Series named after him at Wharton. At the Wharton...
2019
Endowment
Mount Sinai
Mount Sinai CIO Scott Pittman on Alternatives
There is a trend in the asset management world to reclassify the traditional asset classes in a portfolio. We favor...
2019
Endowment
U. Illinois
University of Illinois CIO Ellen Ellison on Agriculture
One overlooked aspect of endowments is that each of them support a unique school with its own history and idiosyncrasy....
2019
Endowment
Williams
Williams CIO Collette Chilton on Manager Selection
When managing a portfolio at an endowment, most recognize two key components to investment returns: asset allocation and manager selection....
2019
Pods
David Zorub – The Path to a Hedge Fund Launch (EP.96)
by Ted Seides
David Zorub is the founder of Parsifal Capital, a new hedge fund he is launching later this year. Before founding...
2019
Endowment
Higher Ed
Endowments Finally Investing in Crypto
More than a year ago Ted Seides shared why endowments should venture into crypto. Yet new ideas inevitably enter the...
2019
Stanford
Venture Capital
Michael Moritz on the VC Long Game at Stanford GSB
Earlier this year Michael Moritz shared how Sequoia Capital does venture capital at the Stanford Business School's View from the...
2019
Foundation
Philanthropy
GMO Founder Foundation Fighting Climate Change
According to Jeremy Grantham, the founder of GMO, you can divest from oil and not lose money. https://youtu.be/NFWS26xRs6s He sees...
2019
Endowment
Harvard
New Harvard Endowment Website on Divestment
Harvard Management Company has a new website. There you will find a description of their new investment approach. HMC’s generalist...
2019
Pods
Paul Rabil – Lacrosse and Entrepreneurship (EP.95)
by Ted Seides
Paul Rabil is the co-founder and CEO of the Premier Lacrosse League or PLL, a new tour-based league of the...
2019
Institutional Investor
Why David Swensen is the Roger Federer of Investing
by Ted Seides
This article originally appeared here in Institutional Investor on April 12, 2019. In his seminal 1975 research paper “The Loser’s Game,” Charley...
2019
Endowment
U. Michigan
Charlie Munger on Bitcoin at Michigan Ross
More than a year ago the Dean of Michigan Ross sat down with Charlie Munger and asked him about Bitcoin....
2019
Endowment
Yale
Yale Endowment on Puerto Rican Debt
How does Yale's endowment invest in Puerto Rican debt? Yale does not directly invest in Puerto Rican debt; it invests...
2019
Bowdoin
Endowment
A thousand dollars and a thousand acres is all it took to endow a school 225 years ago. Bowdoin’s endowment...
2019
Endowment
IAS
IAS CIO Mark Baumgartner on Hedge Fund Fees
A couple of years ago, the Chief Investment Officer for the Institute of Advanced Study (IAS) was asked about fees...
2019
Pods
Ted Seides – Interviewing and Manager Meetings (EP.94)
by Ted Seides
A few months ago, Marcel van de Hoef interviewed me on his podcast, The Meeting Strategist. He created Meeting Strategist...
2019
Endowment
UTIMCO
Fossil Fuels on University Lands at Texas Endowment
Students are urging the UT System to divest from fossil fuels. Over the next few years, we must begin to...
2019
Endowment
MIT
MIT CIO Seth Alexander on 3 Ways to Earn High Returns
The investment office at MIT share the three ways they earn high returns on their portfolio. On a long-term basis,...
2019
Endowment
Yale
Yale CIO David Swensen on 3 Basic Tools for Investors
A few years ago David Swensen lectured on the three basic tools that every investor has to manage and grow...
2019
Endowment
Notre Dame
Notre Dame CIO Scott Malpass on Team Stability
Notre Dame's first Chief Investment Officer has been at the job for more than 30 years. He built a team...
2019
Capital Allocators Monthly – March 2019
by Ted Seides
A few announcements before my favorite content this month. * Sign up here to receive our new weekly blog focusing on Endowment...
2019
Pods
Dan Ariely – Investing in Irrationality (EP.93)
by Ted Seides
Dan Ariely is a leading behavioral economist, author, entrepreneur, and investor. He is the James B. Duke Professor of...
2019
Endowment
U. California
Job Duties at University of California Endowment
There are quite a few roles open at the investment office for the University of California. Read the job descriptions...
2019
Endowment
U. Michigan
University of Michigan CIO Erik Lundberg on Alternatives
It takes time to build a relationship with fund managers who consistently create value, especially those that invest in alternatives....
2019
Foundation
Philanthropy
Industrial Wealth Behind Philanthropy
Art museums are breaking ties with the Sackler family and are no longer accepting gifts from them. Guggenheim Museum Says...
2019
Bowdoin
Endowment
Bowdoin CIO Paula Volent Art of Investing
To the uninitiated, investing seems like a lot of number crunching. But after enough time practicing it you realize that...
2019
Ted Seides Has Made His Mark, but He Feels like He’s Just Getting Started
by Ted Seides
My friend Jon Brolin, founder of Edenbrook Capital and adjunct professor of value investing at Fordham's Gabelli School of Business,...
2019
Pods
Jordi Visser – Next Generation of Manager Allocation (EP.92)
by Ted Seides
Jordi Visser is the President & CIO of $1.7 billion Weiss Multi-Strategy Advisers, an asset management firm with a 40-year...
2019
Endowment
Princeton
Princeton Doubles Net Assets Since Financial Crisis
Most schools have recovered since the financial crisis a decade ago. How the wealthiest colleges manage their endowments in a...
2019
Endowment
Harvard
Commercializing Research at Harvard
The effort to commercialize research has a long, haphazard history in higher ed. But schools such as Harvard, Stanford, and...
2019
Foundation
Real Estate
Trinity Church Real Estate Holdings
Unlike other places of worship in Manhattan that have to sell their air-rights to get by, Trinity Church has been...
2019
Higher Ed
Philanthropy
Warren Buffett once said that it takes 20 years to build a reputation and only 5 minutes to ruin it....
2019
Pods
Manny Friedman – EJF on Economic Opportunity Zones (EP.91)
by Ted Seides
Manny Friedman is the founder of EJF Capital. Manny discussed his background and his nuanced take on markets last summer...
2019
Endowment
Stanford
"Some companies are born in the classroom. Terry Winograd looks like an academic, with bushy white hair and a mustache...
2019
Endowment
UTIMCO
"The majority of UT System’s endowment is separated into two funds — the Permanent University Fund [PUF] and the Long...
2019
Endowment
Harvard
Harvard Vineyards Environmental Review
"Harvard’s foray into wine country is part of a broader shift in the Central Coast of California toward large investors...
2019
Endowment
Yale
"Yale’s venture capital program, one of the first of its kind, is regarded as among the best in the institutional...
2019
Pods
Thomas Russo – All About Google (EP.90)
by Ted Seides
Tom Russo is the Managing Member of Gardner Russo & Gardner. Last week, Tom talked in detail about his holding...
2019
Harvard
Philanthropy
Harvard Medical School $200 Million Blavatnik Gift
"With today’s gift, [Len Blavatnik] now ranks among the leading benefactors in Harvard history. The $200-million pledge is not quite...
2019
Endowment
Yale
"Swensen’s endorsement of crypto assets is significant because he’s considered a pioneer in institutional investing, having managed one of the...
2019
Endowment
Texas PSF
Texas Permanent School Fund in Alternatives
"The changes triggered a transformation of the Permanent School Fund. In 2006, the fund as a whole was relatively conservative,...
2019
Barron's
Capital Allocators Named in Barron’s Best Podcasts in Business and Finance
by Ted Seides
Recognized alongside How I Built This, Invest Like the Best, and Masters in Business. Here's the article
2019
Endowment
Penn State
CIO Job Requirements at Penn State
"Penn State has several requirements for finding its new CIO, who will report to David Branigan, the university’s executive director...
2019
Pods
Thomas Russo – All About Berkshire Hathaway (EP.89)
by Ted Seides
Tom Russo is the Managing Member of Gardner Russo & Gardner. Tom and I sat down in Episode 16 to...
2019
Monthly Email
Capital Allocators Monthly – February 2019
by Ted Seides
As always, please feel free to forward this email to friends. You can sign up to receive our new weekly...
2019
Endowment
Penn
Penn President Triples Endowment
"She's overseen record fundraising and a more than tripling of the endowment. [University President Amy] Gutmann has raised more than...
2019
Foundation
Payout
Ford Foundation on Endowment Management
"Earning high returns isn’t just a matter of bragging rights — endowment income supports the missions of nonprofit institutions, whether...
2019
Endowment
Higher Ed
"Since 2011, Barrett’s boutique has found new leaders for the endowments of Harvard, Stanford, Dartmouth, and Emory, among many other...
2019
Endowment
Harvard
Harvard President on Divestment
"Harvard presidents have long maintained that the University’s endowment is not an appropriate tool for enacting social change despite persistent...
2019
Pods
Matt Botein – Flexible Investing and Institutional Challenges (EP.88)
by Ted Seides
Matt Botein is the Co-Founder and Managing Partner of Gallatin Point Capital, a $1.5 billion private investment company he founded...
2019
Columbia
Endowment
Cook Children’s New CIO from Columbia Endowment
"The Cook Children’s Health Care System has hired a senior investor from Columbia University’s endowment as its new chief investment...
2019
Endowment
Endowments Return 8.2% in 2018
"Other than the upturn at the University of Texas system, which saw a jump of 16.4 percent, the list of...
2019
Endowment
Foundation
Cambridge Associates on Cryptoassets
"Most large institutions have steered clear of the 10-year-old, $120 billion industry because it’s largely unregulated and cryptocurrencies have been...
2019
Foundation
"Baupost is also well known as a distressed-debt investor, profiting from trades such as Lehman Brothers Holdings Inc.’s bankruptcy. In...
2019
Pods
Rahul Moodgal – Master Fund Raiser (EP.87)
by Ted Seides
Rahul Moodgal has spent 20 years as a fund raiser across long only strategies, hedge funds, fund of funds, customized...
2019
Harvard
Philanthropy
Harvard Breaking Higher Ed Fundraising Record
"All but the first fiscal year of the capital campaign saw annual fundraising totals in excess of $1 billion. Last...
2019
CNBC
by Ted Seides
Ted appeared on CNBC to discuss off-the-run investment opportunities.
2019
Endowment
UTIMCO
UTIMCO CIO Britt Harris First Year at Endowment
“‘I’d heard that endowments were in general strong performers, but they are even stronger than I had anticipated,’ Harris admits....
2019
Higher Ed
Philanthropy
College Giving in 2018 Up 7.2%
"The S&P 500 Index’s 14 percent return in the period may have helped encourage giving from a variety of donors....
2019
Campus
Columbia
Columbia Building Manhattanville Campus
"Today, the heart of industrial Manhattanville, which is sandwiched between Broadway and 12th Avenue at the end of West 125th...
2019
Pods
Chris Ailman – CalSTRS’ Venerable CIO (EP.86)
by Ted Seides
Chris Ailman is the chief investment officer of the $220 billion pool for California State Teachers' Retirement System (CalSTRS). He...
2019
Institutional Investor
The Price That Makes Hedge Funds a Steal
by Ted Seides
This article originally appeared here in Institutional Investor on January 31, 2019 Hedge funds are expensive. Would you buy them...
2019
Johns Hopkins
Philanthropy
Johns Hopkins $1.8 Billion Bloomberg Gift
"I have always been grateful for that opportunity. I gave my first donation to Hopkins the year after I graduated:...
2019
Endowment
UTIMCO
Texas Endowment Billion Dollar Royalties
“Mineral rights are also seen as a relatively low-risk way to get exposure to energy and generate income compared with...
2019
Foundation
Portfolio Management
Hewlett Foundation CIO on Fund Managers
"We've got a fairly mature portfolio. This means we don't have a lot of new managers in and out of...
2019
Monthly Email
Capital Allocators Monthly – January 2019
by Ted Seides
As always, please feel free to forward this email to friends. Here Ye, Here Ye We crossed ONE MILLION downloads...
2019
Institutional Investor
What Happened When I Met Jack Bogle
by Ted Seides
This article originally appeared here in Institutional Investor on January 31, 2019 The Vanguard founder espoused low-cost index investing. I...
2019
Endowment
Harvard
Harvard CIO Narv Narvekar on Endowment Changes
"In a refinement, or perhaps a restatement, of his description of the duration of that transition, [CEO] Narvekar wrote that...
2019
Pods
Steve Kuhn – Life After Hedge Funds (EP.85)
by Ted Seides
Steve Kuhn is a retired hedge fund manager. He spent two decades in the industry, specializing in mortgage-backed securities at...
2019
Endowment
Ivy League
Ivy League Endowments 2018 Performance Analysis
"Fiscal year 2018 was a stronger year for Ivy endowment performance than fiscal year 2017. Traditional outperformers continued to outperform,...
2019
Endowment
Harvard
Harvard Vineyards Thirst for Water in California
"The county supervisors issued an emergency moratorium on new agricultural wells starting Aug. 27, 2013—not just wells in the affected...
2019
Amherst
Endowment
Amherst CIO Mauricia Geissler on Fund Managers
"Moving to a broader asset allocation structure/model is probably one of the most significant shifts over the last 15 years....
2019
Endowment
Stanford
Stanford CIO Rob Wallace on Endowment Purpose
"The endowment is actually a collection of more than 7,000 individual gifts from donors. These generous gifts are meant to...
2019
Pods
Donna Snider – Inside the Investment Process at the Kresge Foundation (EP.84)
by Ted Seides
Donna Snider is a Managing Director at the $4 billion Kresge Foundation, where she has worked for ten years...
2019
Foundation
Private Equity
Pittsburgh Foundation on PE Funds
"We look for consistency of fund size, the experience of the team and consistency regarding how they approach their investment...
2019
Stanford
University
"When railroad magnate and former California Gov. Leland Stanford and his wife, Jane Lathrop Stanford, lost their only child, Leland,...
2019
Endowment
Princeton
Princeton CIO Andy Golden on Investment Returns
“Princeton aims for a 10 percent annualized return, which is close to the long-term return for the S&P 500, not...
2019
Higher Ed
History
"Another source of strength was that this disparate collection of largely undistinguished colleges and universities had succeeded in surviving a...
2019
Pods
Ron Biscardi – Putting Hedge Funds in Context (EP.83)
by Ted Seides
Ron Biscardi, the Co-Founder and CEO of Context Capital Partners and a Partner and Board Member of Context Summits. Ron sits...
2019
Endowment
Notre Dame
Notre Dame CIO Scott Malpass Humble Beginnings
"The story goes that [Scott Malpass] came back to campus with $20 in his pocket and needing a job and...
2019
Endowment
Research
New Study on Endowments Large and Small
"The study was based on the IRS filings of 28,696 endowments and foundations. In addition to comparing university endowments to...
2019
Endowment
Harvard
Harvard Monetizing Campus Real Estate
“Fourthly, in strictly monetary terms, the University is holding land it values at $969 million in its most recent financial...
2019
Endowment
UTIMCO
UTIMCO CIO Britt Harris on Endowment Strategy
"Our strategy for being among the best endowments is to: - Have a clearly defined culture that is extreme. -...
2019
Pods
Jean Hynes – Inside Wellington Management (EP.82)
by Ted Seides
Jean Hynes is a Managing Partner at Wellington Management, where she one of three people responsible for the governance...
2019
Endowment
Yale
Yale CIO David Swensen on Fund Managers
"We want people who are maniacally focused on beating the markets, generating superior investment returns. That’s an incredibly important distinction...
2019
Endowment
Yale
I am thrilled to share with you here on the Capital Allocators blog interesting articles and publications on University endowments....
2019
Pods
Jennifer Prosek – Branding an Asset Management Firm (EP.81)
by Ted Seides
Jennifer Prosek is the founder and CEO of Prosek Partners, a leading international public relations and financial communications consultancy...
2019
Monthly Email
Capital Allocators Monthly – December 2018
by Ted Seides
Every year we turn over the calendar and start fresh. Some years it feels daunting. This time, maybe not...
2018
Top 10 Episodes of Capital Allocators in 2018
by Ted Seides
Please enjoy this countdown of the top 10 most downloaded episodes of Capital Allocators in 2018 (and top 5 most...
2018
Pods
by Ted Seides
Thanks to you, this little pet project interviewing great leaders in the investment industry will cross one million...
2018
Pods
Tim McCusker – Consistency and Creativity at NEPC (EP.80)
by Ted Seides
Tim McCusker is the Chief Investment Officer at NEPC, an investment consultant that advises on $1 trillion in assets...
2018
Pods
Brent Beshore – Micro Buyout Adventur.es (EP.79)
by Ted Seides
Brent Beshore is the founder and CEO of Adventur.es, an investment firm that buys small family-owned businesses with the...
2018
Pods
Tom Bushey – Launching a Hedge Fund (EP.78)
by Ted Seides
Tom Bushey is the founder of Sunderland Capital, a Boston-based hedge fund he started in 2016. Tom graduated from...
2018
Monthly Email
Capital Allocators Monthly – November 2018
by Ted Seides
Please feel free to forward this email to friends and colleagues. Readings are few in quantity, very high in...
2018
Pods
Mark Baumgartner – Luck, Risk and Uncertainty at the Institute for Advanced Study (EP.77)
by Ted Seides
Mark Baumgartner is the CIO of the Institute for Advanced Study, where he oversees a $1 billion portfolio that...
2018
Pods
Annie Duke – Thinking More in Bets (EP.76)
by Ted Seides
Annie Duke is a decision-making expert, former world-famous poker player, and author of the best seller, Thinking in Bets. ...
2018
Pods
Michael Lombardi – Leadership Through Football (EP.75)
by Ted Seides
Michael Lombardi is a thirty-year veteran of professional football, including as a General Manager and a three-time Super Bowl...
2018
Pods
Jeffrey Solomon – Grief and Goodness in Squirrel Hill (SPECIAL EPISODE)
by Ted Seides
Last week, the senseless and tragic events at the Tree of Life Synagogue in Pittsburgh left me and many...
2018
Monthly Email
Capital Allocators Monthly – October 2018
by Ted Seides
I've been on the speaking circuit of late. Great to catch up with lots of investors and allocators and...
2018
Pods
Karl Scheer – Competing Sensibly as CIO of the University of Cincinnati (EP.74)
by Ted Seides
Karl Scheer is the Chief Investment Officer of the University of Cincinnati’s billion-dollar endowment. Before taking the helm at...
2018
Pods
Andrew Tsai – Catching a Theme on the Chalkstream (EP.73)
by Ted Seides
Andrew Tsai is the Chief Investment Officer of Chalkstream Capital Group, which he founded in 2003 to manage the...
2018
Pods
Michael Schwimer – Moneyball as an Investment Strategy (EP.72)
by Ted Seides
Michael Schwimer is the CEO of Big League Advance, a company that makes investments in Minor League baseball players...
2018
Medium
Origins of an Investing Podcast
by Ted Seides
Published on Medium on October 14, 2018 Did you find the podcast, or did the podcast find you? On a...
2018
Pods
Michael Batnick – The Best Investors and Their Biggest Mistakes (EP.71)
by Ted Seides
Michael Batnick is the Director of Research at Ritholz Wealth Management, author of the Irrelevant Investor blog, co-host of...
2018
Institutional Investor
What Billy Beane and Jim Simons Have in Common
by Ted Seides
Published in Institutional Investor on September 28, 2018 Major League Baseball’s playoffs are approaching, and I’m left with a...
2018
Pods
Andrew Golden – Princeton University’s Chief Investing Tiger (EP.13)
by Ted Seides
Andy Golden is the President of Princeton University’s Investment Management Company (or PRINCO) for the last 22 years. Having...
2018
Monthly Email
Capital Allocators Monthly – September 2018
by Ted Seides
Investing is simple, but it's not easy. Although I don't trade much, last year I bought Bitcoin in September...
2018
Pods
Raphael Arndt – Australia’s Sovereign Wealth Fund CIO (EP.70)
by Ted Seides
Raff Arndt is the Chief Investment Officer of Australia’s AUZ$145 billion Sovereign Wealth Fund, the Future Fund. He trained...
2018
Pods
Stephen McKeon – Professor of Crypto Security Tokens (EP.69)
by Ted Seides
Stephen McKeon spent six years out of college working in finance for venture-backed startups before returning to graduate school...
2018
Institutional Investor
The Death of Passive Management
by Ted Seides
Published in Institutional Investor on September 9, 2018 Once upon a time, allocators in public markets chose between passive...
2018
Pods
Michael Mervosh – Invest in Yourself (EP.68)
by Ted Seides
Both times I was interviewed (by Khe Hy and Patrick O'Shaughnessy) and shared those conversations on Capital Allocators, I made reference to...
2018
Pods
Sarah Williamson – Focusing Capital on the Long-Term (EP.67)
by Ted Seides
Sarah Williamson is the CEO of FCLTGlobal, a non-profit consortium of large asset managers, allocators, and corporations dedicated to...
2018
Monthly Email
Capital Allocators Monthly (Aug 2018)
by Ted Seides
Back to school, back to work! I'm diving into research on funds investing in Economic Opportunity Zones on behalf...
2018
Pods
Kristian Fok – Australia’s CBUS Superannuation CIO (EP.66)
by Ted Seides
- Kristian Fok is the Chief Investment Officer of Australia’s A46B ($35B USD) Construction & Building Industry Superannuation Fund,...
2018
Pods
Josh Wolfe – Seeing the Lux (EP.65)
by Ted Seides
Josh Wolfe is the co-founder of Lux Capital, a $1.5 billion venture capital firm that targets cutting-edge solutions to...
2018
Pods
Ben Reiter – Moneyball 2.0 (EP.64)
by Ted Seides
Ben Reiter is a senior writer for Sports Illustrated and the author of Astroball: The New Way to Win...
2018
Pods
Roz Hewsenian – Helmsley Trust’s Chief of People and Process (EP.63)
by Ted Seides
Roz Hewsenian is the Chief Investment Officer of the $6 billion Helmsley Charitable Trust. Prior to joining Helmsley in...
2018
Monthly Email
Capital Allocators Monthly (July 2018)
by Ted Seides
A great month to catch up on reading and listening. My favorite reads this month triggered mentions of others...
2018
Pods
Charley Ellis – Indexing and Its Alternatives (EP.62)
by Ted Seides
Investment luminary Charley Ellis is the founder of Greenwich Associates, author of 16 books, and one of the most...
2018
Pods
Manny Friedman – Non-Linear Financial Systems (EP.61)
by Ted Seides
Manny Friedman is the CEO of EJF Capital, a firm he co-founded in 2005 that manages $9 billion with...
2018
REPLAY – Scott Malpass – The Fighting Irish’s Twelfth Man (Capital Allocators, EP.25)
by Ted Seides
This replay is the one of the most downloaded shows from last year, and one that new listeners may have...
2018
Pods
Anthony Scaramucci – It’s Called A Mooch (EP.60)
by Ted Seides
The name Anthony Scaramucci currently has 55% name recognition in the U.S. according to Politico. Anthony has been an entrepreneur...
2018
Pods
Peter Troob – Monkey Business in High Yield (EP.59)
by Ted Seides
Peter Troob is the co-Founder and CIO of Troob Capital Management, an opportunistic investor and family office with particular...
2018
Monthly Email
Capital Allocators Monthly (June 2018)
by Ted Seides
Summer reading time, and this month was a good one. We launched a premium content subscription to Capital Allocators,...
2018
Pods
James Aitken – Macro Strategist Extraordinaire (EP.58)
by Ted Seides
Australian James Aitken is the Founder and Managing Partner of Aitken Advisors, a one-man macroeconomic consultancy based in Wimbledon,...
2018
Pods
Brian Portnoy – From Complex to Simple (EP.57)
by Ted Seides
Brian Portnoy is the Director of Investment Education at $100 billion investment solutions provider Virtus Investment Partners, where he strives...
2018
Pods
Tom Lydon – ETF Trends (EP.56)
by Ted Seides
Tom Lydon is one of the leading experts in the ETF and mutual fund industries. He is the founder...
2018
Pods
Tali Sharot – Optimism, Decisions and Mistakes (EP.55)
by Ted Seides
Tali Sharot is a leading expert on human decision-making, optimism and emotion. A neuroscientist by trade, Tali combines research...
2018
Institutional Investor
by Ted Seides
This article originally appeared in Institutional Investor on June 1, 2018. Allocators want cheaper fees, but they also want the...
2018
Monthly Email
Capital Allocators Monthly (May 2018)
by Ted Seides
Spring is upon us (just in time for summer!). My favorite pieces this month came from social media feeds...
2018
Pods
John Pfeffer – Crypto for Institutions (EP. 54)
by Ted Seides
John Pfeffer is an entrepreneur, investor and author of “An (Institutional) Investor’s Take on Cryptoassets.” He is currently Partner...
2018
Pods
Ross Israel – Stable, Predictable Cash Flows (EP.53)
by Ted Seides
Ross Israel is the Head of Global Infrastructure Investments for QIC, Queensland, Australia’s 82B AUZ ($62B USD) investment fund. The...
2018
Pods
Kim Lew – The Carnegie Way (EP.52)
by Ted Seides
Kim Lew is the Vice President and CIO of Carnegie Corporation, where she is responsible for the investment and...
2018
CNBC
2018
Pods
Paul Black – Gratitude, Fun, and Growth Stocks (EP.51)
by Ted Seides
Paul Black is Co-CEO and portfolio manager at WCM Investment Management, a $26 billion manager of global equities that...
2018
Monthly Email
Capital Allocators Monthly (April 2018)
by Ted Seides
I'll be heading the Omaha this weekend for my last annual public drubbing. Stop me and say hello if...
2018
Pods
James Williams – Curating The Getty’s Assets (EP.50)
by Ted Seides
Jim Williams is the Vice President, Chief Investment Officer and Treasurer of the Getty Trust, where he oversees...
2018
Institutional Investor
Your Brain Wants You To Make Bad Decisions. Here’s How To Avoid Them.
by Ted Seides
This article originally appeared in Institutional Investor on April 24, 2018. The human brain is hard-wired to confirm biases, overweight...
2018
Pods
Michael Cembalest – Eye on the Market (EP.49)
by Ted Seides
Michael Cembalest is the Chairman of Market and Investment Strategy for J.P. Morgan Asset & Wealth Management, a...
2018
Pods
Steven Galbraith – In the Boardroom (EP.48)
by Ted Seides
A year ago, I sat down with my friend Steven Galbraith to record the first conversation of Capital...
2018
Institutional Investor
The Edge You May Be Overlooking
by Ted Seides
This article originally appeared in Institutional Investor on April 13, 2018. When it comes to institutional investors, home field can...
2018
Pods
Chris Brockmeyer – On Broadway (EP. 47)
by Ted Seides
Chris Brockmeyer is the Director of Employee Benefit Funds for the Broadway League, the national trade association for...
2018
Monthly Email
Capital Allocators Monthly (March 2018)
by Ted Seides
Having fun with these markets (or weather) yet? The more things stay the same... Reading 1. My latest Institutional...
2018
Pods
Andy Redleaf – Evolution of Markets (EP.46)
by Ted Seides
Andy Redleaf is the Founding Partner of Whitebox Advisors, a $5.5 billion multi-strategy hedge fund launched in 1999...
2018
Pods
It’s Not About the Money (EP.45)
by Ted Seides
Last fall, I sat down with a fellow former hedge fund of funds professional Khe Hy, who left...
2018
Wayne Wicker – Managing for Millions who Matter (EP.44)
by Ted Seides
Wayne Wicker is the Senior VP and CIO of ICMA Retirement Corporation, an asset manager that oversees $50...
2018
Clare Flynn Levy and Cameron Hight – Moneyball for Managers (EP.43)
by Ted Seides
Our exploration of the use of modern data analytics to enhance investment results continues this week with two...
2018
Institutional Investor
by Ted Seides
This article originally appeared in Institutional Investor on March 5, 2018. For years, Ted Seides refused to pay attention to...
2018
Basil Qunibi – Moneyball for Allocators (EP.42)
by Ted Seides
Increased sophistication in manager assessment is an important trend in the search for alpha. My conversations with Michael...
2018
Capital Allocators Monthly (February 2018)
by Ted Seides
The more things change, the more they stay the same. Markets back to the bull, volatility in check, and...
2018
Rick Selvala – Harvesting Volatility (EP.41)
by Ted Seides
Rick Selvala is the co-founder and CEO of Harvest Volatility, a ten-year old manager of a variety of...
2018
Institutional Investor
The Hidden Tax on Private Equity Investors
by Ted Seides
This article originally appeared in Institutional Investor on February 23, 2018. Private equity firms now extracting their extra pound of...
2018
Ali Hamed – Novel Asset Investing (EP.40)
by Ted Seides
Ali Hamed is the co-founder of CoVenture and Managing Partner of the CoVenture VC Fund. CoVenture is an...
2018
Annie Duke – Improving Decision Making (EP.39)
by Ted Seides
Annie Duke is a renown public speaker and decision strategist. For two decades, she was one of the top...
2018
Capital Allocators Monthly (January 2018)
by Ted Seides
I'm going to endeavor to send out an email monthly with writing and podcast updates. Feel free to pass...
2018
Seth Masters – Investment Polymath (EP.38)
by Ted Seides
Seth Masters recently retired from Alliance Bernstein, where he spent 26 years across six different careers. He started as...
2018
Bill Spitz – Seasoned Commodore (EP.37)
by Ted Seides
Bill Spitz was the longtime head of Vanderbilt University’s endowment before retiring, for the first time, in 2007. He...
2018
Michael Mauboussin – Active Challenges, Rational Decisions and Team Dynamics (EP.36)
by Ted Seides
Michael Mauboussin currently is the Director of Research at BlueMountain Capital, a multi-billion dollar hedge fund and asset manager. ...
2018
Institutional Investor
by Ted Seides
This article originally appeared in Institutional Investor on January 5, 2018. Hedge funds grew from a boutique investment area serving...
2018
Margaret Chen – Leadership and Outsourcing the Investment Office (EP.35)
by Ted Seides
Margaret Chen is the Head of CA Capital Management, Cambridge Associates’ $20 billion Outsourced Chief Investment Officer (OCIO) business....
2017
Deep Dive into Hedge Funds (EP.34)
by Ted Seides
I received several emails over the last bunch of months asking for my take on the investing world and...
2017
Chris Acito – Credit Where Credit is Due (EP.33)
by Ted Seides
Chris Acito is the CEO and CIO of Gapstow Capital Partners, a credit-focused investment organization. Chris started his career...
2017
Paul Johnson and Paul Sonkin, The Perfect Investment (EP.32)
by Ted Seides
Paul Sonkin and Paul Johnson are investors, professors, and co-authors of Pitch the Perfect Investment. Paul Sonkin is an...
2017
Meredith Jenkins – A Path to Trinity (EP.31)
by Ted Seides
Meredith Jenkins is the Chief Investment Officer of Trinity Wall Street, where she oversees $5.5 billion of the church’s...
2017
Larry Mestel – Making Music Royalties Sing (EP.30)
by Ted Seides
Larry Mestel is the Founder and Co-CEO of Primary Wave, one of the largest independent full-service entertainment companies. Primary...
2017
Institutional Investor
by Ted Seides
This article originally appeared in Institutional Investor on October 26, 2017. “The problem with modern portfolio theory is that it’s...
2017
Ashby Monk – Asset Giant Futurist (EP.29)
by Ted Seides
Dr. Ashby Monk is the Executive and Research Director of the Stanford University Global Projects Center. He is also...
2017
Jason Klein – Investing to Cure Cancer (EP.28)
by Ted Seides
Jason Klein is the Senior Vice President and CIO at Memorial Sloan-Kettering Cancer Center, where he oversees the hospital’s...
2017
Ellen Ellison – Playing to Your Strengths (EP.27)
by Ted Seides
Ellen Ellison is the Chief Investment Officer of the University of Illinois Foundation, which she joined in 2013 as...
2017
David Barrett – Searching for Leaders (EP.26)
by Ted Seides
David Barrett is the founder of David Barrett Partners, a leading executive search firm focused exclusively on buy-side asset...
2017
Scott Malpass – The Fighting Irish’s Twelfth Man (EP.25)
by Ted Seides
Scott Malpass is the esteemed Vice President and CIO of Notre Dame University, where he oversees the school's $12...
2017
Jim Dunn – Protect, Perform, Provide (EP.24)
by Ted Seides
Jim Dunn is the CEO and CIO of Verger Capital Management, an Outsourced CIO business whose anchor client is...
2017
Institutional Investor
Why Communication is Key to Active Management
by Ted Seides
This article originally appeared in Institutional Investor on September 1, 2017. If investing is a people business, then creating real...
2017
Dan Egan – Better Investment Outcomes (EP.23)
by Ted Seides
Dan Egan is the Director of Behavioral Finance and Investing at Betterment, the leading robo-advisor overseeing $10 billion in...
2017
Chatri Sityodtong – Warrior Spirit (EP.22)
by Ted Seides
Chatri Sityodtong is the Founder and Chairman of ONE Championship, Asia’s largest sports media property. Chatri started his career...
2017
Richard Lawrence – Compounding in Asia (EP.21)
by Ted Seides
Richard Lawrence is the Chairman and Executive Director of The Overlook Group, a $5 billion investment organization focused...
2017
Kip McDaniel – CIO Whisperer (EP.20)
by Ted Seides
Kip McDaniel is the Chief Content Officer and Editorial Director at Institutional Investor. Prior to joining II a year...
2017
Dan Schorr – Death, Ice Cream, and Entrepreneurship (EP.19)
by Ted Seides
Dan Schorr is the founder of Vice Cream, an early stage company that is bringing back unapologetic indulgence to...
2017
Thomas DeLong – Authentic Leadership (EP.18)
by Ted Seides
Tom DeLong is a renown expert in organizational behavior, leadership, and human development of high performance professionals, the so...
2017
Adam Blitz – Inside Hedge Fund Allocation (EP.17)
by Ted Seides
Adam Blitz is the CEO and Chief Investment Officer of Evanston Capital Management, a $4.5 billion hedge fund...
2017
Thomas Russo – Buy and Hold…and Then What (EP.16)
by Ted Seides
Tom Russo is the Managing Member of Gardner Russo & Gardner, where he manages $11 billion in a...
2017
Reflections – Hardly a Waste of Time (EP.15)
by Ted Seides
A few months ago, an idea came to me to share some conversations with great capital allocators that I’ve...
2017
Chris Douvos – Venture Capital’s Super LP (EP.14)
by Ted Seides
Chris Douvos is Managing Director at Venture Investment Associates, a fund that invests $1B in commitments to venture...
2017
Mario Therrien – The Canadian Pension Model (EP.12)
by Ted Seides
Mario Therrien is Senior Vice President of External Portfolio Management at Canadian asset manager Caisse de dépôt et...
2017
Larry Kochard – Endowment Professor (EP.11)
by Ted Seides
Larry Kochard is the CEO and CIO of the University of Virginia Investment Management Company (UVIMCO), where he provides...
2017
David “Bull” Gurfein – Interdisciplinary Lessons from the Marines (EP.10)
by Ted Seides
David Gurfein, whose nickname “Bull” fits the bill, is a decorated Marine Corps Combat veteran who enlisted at age...
2017
Jeffrey Solomon – Vision, Tenacity, and Empathy (EP.09)
by Ted Seides
Jeffrey Solomon is the President of publicly listed Cowen Group (TK: COWN), a financial services company focused on...
2017
Charley Ellis – Multiple Ways to Win (EP.08)
by Ted Seides
Charley Ellis is one of the most highly regarded experts in the investment business. After spending nearly a decade...
2017
Jenny Heller – Thinking it Through (EP.07)
by Ted Seides
Jenny Heller is the President and Chief Investment Officer of Brandywine Trust Group. Brandywine formed 25 years ago to...
2017
Josh Brown – When Witchcraft Failed (EP.06)
by Ted Seides
Josh Brown is the CEO of Ritholz Wealth Management, a NYC-based financial advisor that helps people align their investments...
2017
by Ted Seides
Today’s show is a little different from my ongoing series of conversations with Capital Allocators. As you probably know,...
2017
Tom Lenehan – Perpetual Thinking at Rockefeller University (EP.04)
by Ted Seides
Tom Lenehan is the Deputy Chief Investment Officer of The Rockefeller University, where he helps lead the management...
2017
Brett Barth – Asset Allocation for Families (EP.03)
by Ted Seides
Brett Barth is a founder, Managing Partner, and Director of Investment Research at BBR Partners. BBR manages north...
2017
André Perold – The Academic Practitioner (EP.02)
by Ted Seides
André Perold is the Chief Investment Officer and Co-Managing Partner at HighVista Strategies, where for the last dozen years...
2017
Steven Galbraith – Five Tool Player (EP.01)
by Ted Seides
Steve Galbraith is an investment manager, brilliant writer, engaging thinker and one of the most well-liked men on Wall...
2016
Forbes
How to Start a Hedge Fund: Interview with Ted Seides
by Ted Seides
This interview originally appeared in Forbes on May 2, 2016. Have you ever wondered what it would be like to...