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15 results for “investment risk”
...is one risk management instrument that is more or less always liquid and always tradable, and having expertise to use that instrument is really important. This is why you put a monoline private equity guy out there in Mexico who just knows how to do
44:58 / 46:01
from transcript44:58 – 46:01
...risk are you willing to bear? So try to simplify that into max drawdown. So if 2008 repeats and your portfolio is down 20%, 30%, Does the institution have the ability to withstand that, and do all the people around the table have the willingness to w
5:55 / 7:01
from transcript5:55 – 7:01
...risk. There's shortfall risk, which is the probability that over time you will just not meet your liability stream. So you need to have a portfolio that gives you a fighting chance to get there over long periods of time. And that's just a candid conv
10:35 / 11:40
from transcript10:35 – 11:40
...risk of loss. See complete disclosures at public.com/disclosures. You know, so much in finance and these questions, whether we're talking about the university's board having a manager or having an endowment manager, whether we're talking about the en
15:44 / 16:45
from transcript15:44 – 16:45
...and risk parameters as a language that you can talk about with, in our case, our board and our investment committee.
59:14 / 1:00:19
from transcript59:14 – 1:00:19
...and investment committee. And there's a lot of nuance and details that go into that. We've tried to boil it down into we wanna understand four key risks. So the first we call enterprise. Is this a university? What's your spending rate? Are there any
5:10 / 6:16
from transcript5:10 – 6:16
...risk. There's shortfall risk, which is the probability that over time you will just not meet your liability stream. So you need to have a portfolio that gives you a fighting chance to get there over long periods of time. And that's just a candid conv
9:40 / 11:07
from transcript9:40 – 11:07
...risky. So we we actually have had, unusual for us, hedge. We've got if you were to dig deep enough, you'd say, oh, I bet you they've got a lot of investment in China. Yeah. We do. And so maybe we wanna take that RMB exposure down a little bit because
1:05:56 / 1:07:03
from transcript1:05:56 – 1:07:03
...parameters as a language that you can talk about with, in our case, our board and our investment committee. And we have this very open conversation with the board. And so the sort of scenario we're talking about is, well, if equity markets are doing
59:14 / 1:00:21
from transcript59:14 – 1:00:21
...takers in rates. We have directional risk takers in FX. We have some that do it in equity. Those that we are giving that lever to can do it in a way that is appropriately risk managed, that for us is appropriately sized within the portfolio. And most
37:26 / 38:43
from transcript37:26 – 38:43
...and risk parameters as a language that you can talk about with, in our case, our board and our investment committee. And we have this very open conversation with the board. And so the sort of scenario we're talking about is, well, if equity markets a
59:58 / 1:01:17
from transcript59:58 – 1:01:17
...about risk in the portfolio on that basis. We don't know whether any of those scenarios will play out, and the most likely outcome is some other one will play out completely that we haven't even thought of. So it's important to be humble about this.
58:32 / 59:33
from transcript58:32 – 59:33
...risks are you worried about? Let's set aside the geopolitical. We could talk about that all day. The big risk that I see in markets that I think is ignored is the risk of illiquidity, and I see it in all sorts of places. I see it with private equity
38:11 / 39:41
from transcript38:11 – 39:41
...that leverage and or illiquidity can cause. And just think a lot of strategies that look good in the rearview mirror, look very risk controlled, often have a lot of leverage and we think are at real risk of having a major issue even though they haven
1:10:30 / 1:11:32
from transcript1:10:30 – 1:11:32
...risk. A major world war that engulfs The United States, that would be considered a risk. A major, major fundamental currency decline,
30:48 / 31:58
from transcript30:48 – 31:58
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