Capital Allocators – Inside the Institutional Investment Industry

Latest Episodes:

2023 Top Episode #1: Seth Klarman – Timeless Value Investing, EP.328 Dec 29, 2023

Show notes

We're counting down the top 5 episodes of 2023.

The number one episode of the year, and the number one episode of all time, Seth Klarman – Timeless Value Investing. Seth's uncommon wisdom and sole podcast appearance combined to make this year's chart topper one for the ages.

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2023 Top Episode #2: Dmitry Balyasny – Multi-Strategy Platform at BAM, EP.341 Dec 28, 2023

Show notes

We're counting down the top 5 episodes of 2023.

Number three covered private credit and number two covers the other most topical strategy of the year – multi-manager platform hedge funds. Weighing in at number two is Dmitry Balyasny and his discussion of multi-strategy platforms at BAM.

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2023 Top Episode #3: Kipp deVeer – The World of Private Credit at Ares, EP.329 Dec 27, 2023

Show notes

We're counting down the top 5 episodes of 2023.

At number three, Kip DeVeer and the world of private credit at Ares. The subject of private credit was top of mind for investors, and Kipp shared his experience and wisdom in this tour of the space.

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2023 Top Episode #4: Stan Miranda – Modern Endowment Model at Partners Capital, EP.334 Dec 26, 2023

Show notes

We're counting down the top 5 episodes of 2023.

Coming in at number four is Stan Miranda, the modern endowment model at Partners Capital. Stan's original insights shine in this story of the powerhouse OCIO he founded with Paul Dimitruk 20 years ago.

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Year in Review 2023 (EP.358) Dec 25, 2023

Show notes

It's that time of year when I share my annual letter and a rundown of the top episodes of 2023.

Like last year, we'll be counting down the top 5 episodes each day this week.

Tune in throughout the week to find out which episodes were played more than any other from last Thanksgiving to this one.

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2023 Top Episode #5: Gregg Lemkau – The Evolution of MSD, EP.291 Dec 25, 2023

Show notes

We're counting down the top 5 episodes of 2023.

Kicking us off at number five, is Greg Lemkau, the evolution of MSD, episode 291. I can't say I'm surprised by this one. Greg is beloved far and wide in the industry and all kinds of people came out of the woodwork when this release.

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Gary Sernovitz - Inside the CIO Seat (EP.357) Dec 18, 2023

Show notes

Gary Sernovitz is Managing Director at Lime Rock Partners, an oil and gas-focused private equity firm that manages $10 billion, where he runs the firm's investor relations and business development efforts. He is also the author of The Counting House, a fictional story about a CIO who oversees a $6 billion college endowment. After twenty years of observing CIOs, Gary brings his pointed, witty writing with a nuanced understanding of someone sitting in the CIO seat. Our conversation discusses the perspective Gary brings to his latest book, the challenges of serving as a CIO, and insights from two decades of manager meetings. Sitting outside the CIO seat, Gary shares a side of the CIO role that many experience, but few are comfortable discussing on the podcast.

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Thomas Haugaard - Hard Currency Emerging Markets Debt at JHI (EP.356) Dec 14, 2023

Show notes

Today's Sponsored Insight features, Thomas Haugaard, a portfolio manager on the Emerging Markets Debt Hard Currency team at Janus Henderson Investors where he helps manage $1.3 billion just one year into the team's tenure at JHI. Thomas spent the last decade in the strategy with the same team, a prior decade in emerging markets research, and a decade before that in academia studying emerging markets.

Our conversation covers Thomas' path to investing, the opportunity set and misconceptions of hard currency debt, and his team's approach to the sector.

This is our third sponsored insight from Janus Henderson, following conversations with Daniel Grana on emerging market equities and Andy Acker on biotech. Those insights are replayed in the feed.

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[REPLAY] Andy Acker - Empty Rooms: Investing in Biotech at Janus Henderson (Capital Allocators, EP.274) Dec 14, 2023

Show notes

On today's show we'll discuss another empty room – an opportunity ignored by most investors because they either don't want to or can't participate. Andy Acker is a Portfolio Manager at our anchor sponsor, Janus Henderson Investors, where he manages the firm's healthcare strategies. Janus Henderson is a global asset manager with $300B in assets under management, and Andy oversees the firm's Global Life Sciences strategy and its Biotechnology strategy. Biotech stocks have been crushed despite significant advances in drug development, making it a proverbial empty room with only specialists and contrarians left standing. Our conversation starts with Andy's path to becoming a healthcare investor, scientific innovation over his time at Janus Henderson, translation of science into commercial success for businesses, and the 90/90 rule for how stocks behave. We then turn to his investment process across filtering ideas, research, assessment of management teams and commercial success, portfolio construction, trading around names, and private crossover investing. We close with Andy's perspective on opportunities and risks to the space from here, and green shoots he sees that might fill seats in the empty room. For full show notes, visit the episode webpage here. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

[REPLAY] Daniel Graña – Janus Henderson Investors Emerging Markets Equity (Manager Meetings, EP.13) Dec 14, 2023

Show notes

Today's episode of Manager Meetings is our first sponsored show, with our friends at Janus Henderson Investors. I had the chance to speak with Daniel Graña, who is responsible for Janus Henderson's emerging markets equity strategy. Janus Henderson is a leading global asset manager with $400 billion under management. Our conversation covers some stories of the wild west early days in emerging markets, Daniel's strategy focusing on the intersection of good companies with good governance and good countries, portfolio construction, application of the process to China, benefits of aligning with a large organization when tackling emerging markets, and the case for emerging markets today. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

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