Say goodbye to tired market takes and superficial sound bites. Because here, instead of skimming the surface, we dive into the heart of capital allocation — striking the perfect balance and exposing the subtleties that reveal the topic’s true essence.
Prepare to have your perspectives challenged as we open up the issues that resonate with the hearts and minds of those shaping asset management.
We’ve enlisted the wisdom of visionary leaders in the industry and just like a meticulously crafted wine, we’ll allow their insights to breathe, unfurling their hidden depths and transforming our understanding.
YOUR CO-HOSTS: GET TO KNOW JOHN & CHRISTIE
John L. Bowman, CFA, President, CAIA Association
John oversees the industry leading CAIA Charter, thought leadership and content development, operations, and CAIA's Asia Pacific strategy. John has devoted over 25 years to the asset management industry to recover the narrative of the value that the investment profession brings to society. He is a staunch public advocate for market integrity, long-termism, investor outcomes, diversity, human dignity and educational standards.
Christie Hamilton, Director, Content and Research, CAIA Association
Ms. Hamilton oversees the organization’s thought leadership and external research efforts. Christie brings over 16 years of experience as a practitioner, having built bespoke investment programs on behalf of a variety of institutional investors. She is an outspoken advocate for accessible investment education, fiduciary responsibility, governance, long-termism, diversity, stakeholder management, and transparency.
LISTEN TO OUR EPISODES BELOW!
Episode 8: OCIO: The Phoenix that Keeps Rising with Mark Anson and Sarah Samuels
The Outsourced Chief Investment Officer—once a last resort option for sub-scale capital pools looking to avoid the hassle and cost of building their own investment office to today, a multi-trillion dollar subset of the asset management profession and arguably the hottest structural trend in the industry. Take a listen while we examine: What insights and opportunities led to the creation of this segment of organizations and why has that exploded in the ensuing four decades? What defines a successful OCIO? And why has that trajectory and evolution seemingly reached an inflection point—hyperdrive really-- in the last five years that has redefined the space and encouraged newer, larger entrants?
Episode 7: A New Global Order: Integrating Geopolitics with Anastasia Titarchuk and Marko Papic
After a four decade relative period of global stability, the world order has fractured and grown more unpredictable. The new multi-polar reality poses a major problem for leaders and investors as our traditional guardrails, narratives, and structures seem less useful. How should an investor integrate geopolitical trends into their investment thesis and what pitfalls and common mistakes should we watch out for?
Episode 6: Private Market Regulation: Overreach or Overdue? With Jen Choi and Jon Grabel
In order for the capital markets system to continually grow in its transparency, efficiency and fairness, it needs a combination of free market ingenuity and regulatory protection. With the meteoric rise and importance of alternative investments in the past decade, did the SEC strike that balance correctly with the new Private Advisors Rule? Directionally, probably yes but certainly the details are far from perfect and unintended consequences are inevitable. With an aim to provide a practical guide for the layman practitioner, we explore the history of light touch regulation of private funds, highlight the important elements and implications of the rule, and explain why CAIA joined ILPA and many asset owners in submitting an Amicus Brief to the 5th Circuit Court of Appeals defending the spirit of the rule.
Episode 5: Wine Investing Holiday Special with Matt Parker and Anthony Zhang
This episode had to happen. The origin story of this show necessitated it. And what better timing then to release it as our holiday special when many of you around the world will be sitting around the table with family and friends, breaking bread and sharing a bottle of fine fermented grape juice. But beyond our passion for drinking and socializing around wine, is there an investable asset class here yet? We examine the history of wine investing, the lifecycle of the grape, and the very unique investment characteristics of each stage of the lifecycle. Then we invite two experts, both of which have brought the category to mainstream acceptance in different ways, on either end of that production spectrum to help us think through this burgeoning opportunity set.
Episode 4: Culture: The Irreplicable Superpower with Kim Lew and Jim Dunn
A healthy culture is the oxygen by which you accomplish the work of the organization. It breathes life and vitality into the collective work of the enterprise. It gives meaning and connection to a shared purpose or goal. And it is predictive of sustainable outsized investment performance. And yet, cultivating healthy organizations have rarely been a defining characteristic of the investment industry. Why? And how can we accelerate the profession’s social license with a renewed focus on culture?
Episode 3: Governance Alpha with Chris Ailman and Ashby Monk
Most agree that healthy investment committee governance is table stakes for meeting investment outcomes over the long term and yet, it is probably the least discussed element of the investment management value chain. Why is the pursuit of governance excellence often ignored? Are there models of separation of duties between board and staff that we should be aiming for? Can strong governance actually improve or juice investment returns? Is it a source of alpha that is largely unharvested?
Episode 2: Democratization of Alternatives with Joan Solotar and Fran Kinniry
Democratization is a word loaded with independence, equal access and even Americana, it’s a concept that conjures up a binary and heated debate about fairness and liberty of choice but is democratization always good? Is it the government’s role to restrict individual citizens from what they deem risky assets or should we simply demand standards of transparency and reporting and trust adults with their own money? Listen in to find out more!
Episode 1: Private Market Valuations with Scott Kupor and Andrea Auerbach
Private Markets Valuations…do these quarterly marks properly represent fair value or are they make believe…contrived from the fictional world of GP machinations? Do these interim valuations, as one commentator put it, “not matter;” or as another proclaimed provocatively, are they simply a case of “volatility laundering.” Is the gap or “lag” with public market equivalents relevant…are we anchoring to the right bogey…or arbitrarily comparing objective value to an emotionally manic patient, to paraphrase Warren Buffett? In today’s episode, our inaugural episode of Capital Decanted, we are going to lean in to this divisive and complex topic with some help from Scott and Andrea.