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15 results for “investment philosophy”
...their investment philosophy in the space? Refining investment beliefs. To develop a game plan going forward, investors must think carefully about what they believe. CIOs can consider these critical questions to inform their investment decisions. Firs
3:04 / 4:08
from transcript3:04 – 4:08
I'll give you the answer I would have given to you three years ago, and then I'll give you the answer today. The answer three years ago would have been, we think about asset allocation a little bit differently. We very explicitly and intentionally di
30:45 / 31:48
from transcript30:45 – 31:48
What do you believe about investing that permeates how you think about this challenge of people are giving you a big pot of their money? So one, we have a bunch of philosophical tenets about what we believe about investing. Those are ones that we spe
22:25 / 23:42
from transcript22:25 – 23:42
...investment truly competed against every other single investment. And by the way, we never really fully answered. The asset allocation process today is
35:15 / 36:17
from transcript35:15 – 36:17
opportunity coming in adds value. So some of it is a bottom up understanding of deal sourcing and deal opportunities. You would add a deal if it improves the portfolio, and you wouldn't if it doesn't. You could imagine where you're quite happy with y
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from transcript16:27 – 17:32
...investments, venture capital and private equity, and you mentioned that's not really designed to incorporate that, How does a pool who's trying to implement TPA think about that trade off of the flexibility versus what's historically been the return
17:16 / 18:19
from transcript17:16 – 18:19
...your investment approach? Sure. And I would say these are not revolutionary. They're core tenants, and I would hope that other thoughtful investment firms would have similar ones. But for us, it's long term compounding. It's that diversification is t
35:58 / 37:13
from transcript35:58 – 37:13
...investment decisions? The key is to make sure that you've got the right blend of bottom up input and top down. When I think about the top down, you're thinking about the overall risk levels of the portfolio. You're thinking of the active risk budgeti
44:15 / 45:22
from transcript44:15 – 45:22
How do you apply the same thinking to your own portfolio construction about sizing of commitments and how you build it up across the strategies? Well, I think there's always a temptation to size based on conviction. I was talking to a friend who runs
57:01 / 58:04
from transcript57:01 – 58:04
...investments. That can be difficult because different asset classes think about returns differently. If you're looking at private equity, you'll think about IRRs, you'll think about multiples. If you're looking at infrastructure, you might think about
23:59 / 25:02
from transcript23:59 – 25:02
How do you apply the same thinking to your own portfolio construction about sizing of commitments and how you build it up across the strategies? Well, I think there's always a temptation to size based on conviction. I was talking to a friend who runs
57:01 / 58:04
from transcript57:01 – 58:04
...investment approach to our clients. The endowment model in our definition, and may not be your definition, may not even be David Swensen's definition, but it had three pillars. Number one, high static risk. So static means no market timing, and that
15:00 / 16:04
from transcript15:00 – 16:04
...of investment opportunities, pretty much strategy agnostic in that sense. And then when we find something that seems truly compelling, we pursue it. The rationale behind all that is we simply don't think there are that many opportunities out there th
8:08 / 9:25
from transcript8:08 – 9:25
...on investments that give you the highest likelihood of achieving those goals over time. So not to get overly geeky, I would just change the utility function from maximizing return, which probably isn't the best thing to do, because maximizing return
17:14 / 18:28
from transcript17:14 – 18:28
...have the investment team infrastructure to actively make those tilting decisions. So if you have a whole team built around, let's find the best managers in the world and build a diversified portfolio and figure out how to make that fit together and t
22:31 / 23:34
from transcript22:31 – 23:34
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