Searching...
14 results for “investment mistakes”
...investment, and so there's a period of time where that illiquidity is not an issue for them for those reasons. Leverage is a real risk. There's no way to overstate it. It really is the thing that can get people in trouble, and I think a lot of the ri
30:47 / 31:49
from transcript30:47 – 31:49
Because I think you may find that it's very hard to find the winners, and you may not find the winners often enough to pay for the losers or the mediocre. You have to be very, very realistic about what competitive advantage do you have in terms of ac
33:33 / 34:51
from transcript33:33 – 34:51
One of the things that has attracted value from the culpas experience has been a tendency to be too procyclical. If you think back to the time of the financial crisis, various assets were liquidated, this was taken off. That was done in part because
0:00 / 1:02
from transcript0:00 – 1:02
Clearly, we wanna avoid the high flyers that crash back to Earth, and let's be clear, professionals are not that much better at this than retail. We all love to look down our nose at this crazy Reddit retail, but the pros are often just as bad. Acade
9:04 / 10:21
from transcript9:04 – 10:21
...investments are you avoiding like the plague? Anything with a high level of leverage and or illiquidity. We have a higher tolerance for mark to market volatility and think that is risk. I mean, things moving around a lot is definitely a risk, but it'
1:09:44 / 1:10:51
from transcript1:09:44 – 1:10:51
of the world, so I'll invest in emerging managers. Because I think you may find that it's very hard to find the winners, and you may not find the winners often enough to pay for the losers or the mediocre. You have to be very, very realistic about wh
33:00 / 34:10
from transcript33:00 – 34:10
...plenty of years to perform or not perform before you pass judgment. So what are some dumb reasons to sell? While most investors aren't waiting long enough before evaluating their funds, they're also guilty of another cardinal sin of investing that's
5:14 / 6:23
from transcript5:14 – 6:23
...out an investment approach than we really do. If the answer is is you only have a couple of quarters to prove that makes money, you better make sure your investment thesis is aligned to that particular horizon. So there's an example of where
27:46 / 28:51
from transcript27:46 – 28:51
If you can handle a minus 50, if you're an endowment and you understand your spending levels and you understand your horizon, which might be multiple lifetimes depending on how you think about it, This is very different than someone trying to manage
29:16 / 30:25
from transcript29:16 – 30:25
...mistakes that you made that you've tried to transfer onto the team? Commodities is a great one. Okay? As we say today, it's a graveyard of failed investment decisions because almost every strategy that we were looking at had commodities in there. And
18:46 / 19:52
from transcript18:46 – 19:52
So you have to go really deep in knowing what you own. We understand the underlying stocks that most of the portfolios have. We get all that data, and then we run it through our factor models to know where we've got over and underweights. Because one
27:40 / 28:47
from transcript27:40 – 28:47
...on performance of investment strategies can arise well within the window of really proving out the thesis. And I think when we do commit, we try to do as good a job as we can to ensure that strategies have the time
26:58 / 28:06
from transcript26:58 – 28:06
So we were modeling out, for example, we did this article recently about the Yale and average endowments going back to 1985 and said, well, look. You know, if you look at the worst year for many of these, and it was 'nine, they did minus 20 something
28:32 / 29:42
from transcript28:32 – 29:42
...we make mistakes all the time, and I would say, you know, certainly a big lesson over time is, like, make sure you understand the bear case on every investment, whether it's a manager or underlying company. And overestimating your ability to whether
50:13 / 51:19
from transcript50:13 – 51:19
Have a podcast?
Run your podcast through Clypt
Get ranked clips, hooks, and ready-to-post copy from your own episodes. Free to try.