Capital Allocators Monthly – July 2019

Announcements and Gratitudes

* Special thanks to sponsor Barings, whose Streaming Income podcast digs below the headlines to find out what’s really going on in public and private asset markets around the world.  Check it out on your favorite podcast platform.

* If you know any companies involved in asset management or luxury goods that would benefit from addressing our high quality audience, we have a limited number of sponsor spots available in Q3 and Q4. Please reach out to me if interested.

 

Reading (Ordered by reading time: tweets first, books last, and blog posts and articles in between) 

1.  Ashby Monk, Tweet Storm on Consultants.  Nothing like sarcasm alongside a healthy dose of truth.

2.  Carl Richards.  Carl writes the Sketch Guy column for the New York Times and offers visual depictions of financial and behavioral truths.  Sign up to receive his articles in your mailbox at behaviorgap.com.

3.  Rob Day, Too Big to Succeed.  The challenging math of investing a large pool of capital.

4.  Nick Maggiulli, Eating Your Own Cooking.  Ask your managers how they invest their own money (especially outside of their fund). Let me know if you find something interesting.

5.  Timothy Keller, The Meaning of Marriage. I can’t recommend this book highly enough.  Whether you are single, married, divorced, or widowed, you’ll learn important lessons about love and marriage. I have recommended this book daily since reading it a few weeks ago.  Warm shout out to Brent Beshore for the fantastic recommendation.

Bonus:  The Lost Art of Quoting Movie Lines.  Oh yes, this is me.

 

Listening
Capital Allocators
Episode 103:  Sam Sicilia – Seizing on a Long Time Horizon at HostPlus
CIO of Australia’s highest performing Super Fund walks through the investment process.

Episode 104:  Ash Williams – Florida SBA’s Reigning Chief
Legendary pension CIO Ash Williams shares his long family history in Florida and what it takes to overcome institutional challenges.

Episode 105:  Jon Harris – Investing in People at AIM
Jon describes the philosophy and implementation of a people-focused approach to investing in private equity and hedge funds.

First Meeting
First Meeting Episode 3:  Richard Lawrence – Overlook Investments
This replay of a Capital Allocators conversation from two years ago manifests the long shelf-life of a great investment process.

First Meeting Episode 4:  André Bourbonnais – Blackrock Long-Term Private Capital
André walks through the strategy, advantages, and challenges of Blackrock’s new permanent capital private equity fund

Best of the Rest
Malcom Gladwell’s Revisionist History.  Gladwell’s new season starts with a clever questioning of the predictive accuracy of the LSAT in assessing the future success of lawyers.

Have a good one,
Ted