How I Invest with David Weisburd

Latest Episodes:

E103: Alex Hormozi - Private Equity’s Next Billionaire? Oct 15, 2024

Show notes

Alex Hormozi, entrepreneur and founder of Acquisition.com, joins David Weisburd to share his journey of building a $150 million net worth. He discusses the lessons learned from losing his fortune twice, the importance of controlling revenue streams, strategic risk-taking in business, insights into scaling businesses, and the mindset required for long-term success. Hormozi also explains how he leverages his social media presence to drive deal flow and growth for Acquisition.com.

The 10X Capital Podcast is part of the Turpentine podcast network. Learn more: turpentine.co

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X / Twitter: @dweisburd (David Weisburd) @AlexHormozi (Alex Hormozi)

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LinkedIn: David Weisburd: https://www.linkedin.com/in/dweisburd/ Alex Hormozi: https://www.linkedin.com/in/alexhormozi/

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Links: Acquisition: https://www.acquisition.com/

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Questions or topics you want us to discuss on The 10X Capital Podcast? Email us at david@10xcapital.com

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Timestamps

(0:00) Episode Preview (0:39) From Management Consultant to Gym Mogul (4:14) The Big Exit and New Ventures (5:09) The Birth of Acquisition.com (6:00) The Power of Social Media and Brand Building (7:16) Investment Strategies and Business Models (17:33) Skill Acquisition and Compounding (27:08) Transactional vs Relational Business Dynamics (31:15) Understanding Opportunity Costs and A-Players (31:51) The Importance of Reinforcement Loops (32:16) Unlocking Discretionary Effort (33:21) Power of Immediate Rewards (34:23) Behavioral Conditioning in Business (35:37) Hiring for Attitude and Intelligence (38:02) The Role of Trauma in Behavior (39:30) The Meta Skill of Learning (40:40) Aligning Incentives and Delegation (41:17) The Founder Mode and Soft Skills (44:32) Operationalizing Culture and Feedback (46:47) Personal Growth and Business Strategy (57:53) Closing remarks

E102: Interview w/Kellogg School of Business Dean Oct 10, 2024

Show notes

Francesca Cornelli, Dean at Northwestern University - Kellogg School of Management sits down with David Weisburd to discuss how private equity firms handle CEO turnover, why private equity firms benefit from enlightened disagreement and diverse opinions, and the importance of mentorship in private equity.

The 10X Capital Podcast is part of the Turpentine podcast network. Learn more: turpentine.co

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X / Twitter: @dweisburd (David Weisburd) @KelloggSchool (Northwestern University - Kellogg School of Management)

LinkedIn: Northwestern University - Kellogg School of Management: https://www.linkedin.com/school/kellogg-school-of-management/ Francesca Cornelli: https://www.linkedin.com/in/francesca-cornelli/ David Weisburd: https://www.linkedin.com/in/dweisburd/

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Links: Northwestern University - Kellogg School of Management: https://www.kellogg.northwestern.edu/

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Questions or topics you want us to discuss on The 10X Capital Podcast? Email us at david@10xcapital.com

TIMESTAMPS:

(0:00) Episode Preview (1:13) Path to becoming dean of Kellogg School of Business and defining its culture (4:20) Practical tips for enlightened disagreement and commonality in negotiations (5:47) Impact at London Business School and research in private equity (7:18) Insights on private equity from academic research (11:24) CEO turnover in private equity and case studies (14:36) Industry-academia collaboration and future of business education (17:35) Closing remark

E101: Lessons from University of Texas ($70B) and Stanford Endowment ($40B) Oct 08, 2024

Show notes

Mark Shoberg, CIO & Partner at Capital Creek Partners sits down with David Weisburd to discuss the keys to successful institutional investing, how large should an endowment be for optimal returns, and how to build the perfect investment platform for family offices and endowments.

The 10X Capital Podcast is part of the Turpentine podcast network. Learn more: turpentine.co

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X / Twitter: @dweisburd (David Weisburd) @shoberg (Mark Shoberg) @CapitalCreekTX (Capital Creek Partners)

LinkedIn: Capital Creek Partners: https://www.linkedin.com/company/capital-creek-partners/ Mark Shoberg: https://www.linkedin.com/in/mark-shoberg/ David Weisburd: https://www.linkedin.com/in/dweisburd/

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Links: Capital Creek Partners: https://www.capitalcreek.com/

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Questions or topics you want us to discuss on The 10X Capital Podcast? Email us at david@10xcapital.com

TIMESTAMPS:

(0:00) Episode Preview (2:19) Comparing solo and team approaches in investment management (4:18) Venture investments and the allure of spinouts (6:57) Analyzing the pros and cons of anchoring a fund (8:29) Exploring first call alpha and the dynamics of LP relationships (11:29) Balancing economic arrangements between LPs and GPs (14:29) The critical role of partnerships in successful investing (17:06) Strategies for portfolio construction in large endowments (18:15) Delving deeper into market timing and portfolio allocation (21:40) Tailoring real estate investments for tax-exempt entities (24:26) Understanding scale in endowments and its impact (28:38) Introducing Capital Creek Partners and their objectives (30:04) Customized portfolio construction for diverse clients (31:51) The art of sourcing managers and managing legacy relationships (34:57) Closing remarks

E100: CIO of $2.9 Billion University of Illinois Endowment Oct 03, 2024

Show notes

Travis Shore, CIO at University of Illinois Foundation sits down with David Weisburd to discuss how CIOs can adapt to the next big change in time, the critical mistakes made in mastering risk in uncertain markets, and identifying which strategy may save your endowment in the next crisis.

The 10X Capital Podcast is part of the Turpentine podcast network. Learn more: turpentine.co

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X / Twitter: @dweisburd (David Weisburd) @uofi_foundation (University of Illinois Foundation)

LinkedIn: University of Illinois Foundation:https://www.linkedin.com/company/universityofillinoisfoundation/ Travis Shore: https://www.linkedin.com/in/travis-shore-cfa-34a05712/ David Weisburd: https://www.linkedin.com/in/dweisburd/

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Links: University of Illinois Foundation: https://uif.uillinois.edu/

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Questions or topics you want us to discuss on The 10X Capital Podcast? Email us at david@10xcapital.com

TIMESTAMPS:

(0:00) Episode Preview (1:28) Evolution of University of Illinois endowment and investment philosophy (3:09) Navigating herd behavior and the financial crisis impact on strategy (6:32) Evaluating venture managers and approach to asymmetric risks (8:34) Investor vs. allocator roles and decision-making in teams (11:18) Leadership principles and the value of iterative decision meetings (14:28) Developing institutional knowledge and asset allocation flexibility (17:49) Managing market cycles, risk, and liquidity (22:21) Adapting to market changes and liquidity management strategies (25:36) Governance's impact on endowment performance and board relations (30:36) Addressing bias in growth strategies and investor re-ups (33:11) Transition challenges to a CIO role and asset allocator decision-making (36:41) Closing remarks

E99: How to Pick Top Decile Venture GP’s Oct 01, 2024

Show notes

Albert Azout, Managing Partner at Level Ventures sits down with David Weisburd to discuss how to spot unicorn founders early in Venture Capital, what separates great fund managers from the rest, and digging deep into the role of data in unpacking venture fund performance.

The 10X Capital Podcast is part of the Turpentine podcast network. Learn more: turpentine.co

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X / Twitter: @dweisburd (David Weisburd) @levelvc (Level Ventures)

LinkedIn: Level Ventures: https://www.linkedin.com/company/level-ventures/ Albert Azout: https://www.linkedin.com/in/albertazout/ David Weisburd: https://www.linkedin.com/in/dweisburd/

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Links: Level Ventures: https://levelvc.com/

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Questions or topics you want us to discuss on The 10X Capital Podcast? Email us at david@10xcapital.com

(0:00) Episode Preview (1:39) Data-driven approach to investing and predicting top-performing managers (3:20) Building social capital and early investment indicators (4:38) Follow-on investments, market timing, and macro factors (6:33) Ownership strategies and discipline in seed investments (8:13) Offensive strategy and value-add for GPs (10:18) Evolution of Level VC's value-add approach (13:16) Flywheel effect in investment networks (14:31) Learnings from Coda Capital and systematic sourcing (16:03) Recognizing great founders and contextual quality of GPs (17:07) Fund size control, co-investing, and portfolio construction (20:28) Collaboration, differentiation, and venture capital insights (22:11) Closing remarks

E98: How the $3.5 Billion University of Rochester Endowment Invests Sep 26, 2024

Show notes

Rob Rahbari, Senior Investment Officer and Assistant Treasurer at University of Rochester sits down with David Weisburd to discuss the hidden potential that diverse fund managers offer, the missing ingredient in a successful investment strategy, and what role will diversity, equity, and inclusion play in the future of institutional investing.

The 10X Capital Podcast is part of the Turpentine podcast network. Learn more: turpentine.co

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X / Twitter: @dweisburd (David Weisburd) @UofR (University of Rochester) @RobRahbari (Rob Rahbari)

LinkedIn: University of Rochester: https://www.linkedin.com/school/university-of-rochester/ Rob Rahbari: https://www.linkedin.com/in/robrahbari/ David Weisburd: https://www.linkedin.com/in/dweisburd/

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Links: University of Rochester: https://www.rochester.edu/

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Questions or topics you want us to discuss on The 10X Capital Podcast? Email us at david@10xcapital.com

TIMESTAMPS:

(0:00) Episode Preview (3:17) Portfolio construction and generalist strategy pros and cons (6:27) Macro factors and their impact on investments (7:37) Real assets, fixed income, and real estate strategies (8:52) Venture portfolio insights and GP relationship management (11:21) Selection criteria for new managers and common pitfalls (13:34) Addressing bias and complexity in investment strategies (15:40) Doug Phillips' unique approach to investing (18:13) Investing at the University of Rochester and IADEI initiative (20:51) Embracing market cycles and diverse managers (22:27) Closing remarks

E97: How Institutional Investors Access Crypto Sep 24, 2024

Show notes

Drew Myers, Co-Founder and Managing Partner at CrossLayer Capital sits down with David Weisburd to discuss the key to small funds thriving in pre-seed investing, how time diversification tame crypto volatility, and identifying persistent top quartile crypto funds.

The 10X Capital Podcast is part of the Turpentine podcast network. Learn more: turpentine.co

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X / Twitter: @dweisburd (David Weisburd)

LinkedIn: CrossLayer Capital: https://www.linkedin.com/company/crosslayer-capital/ Drew Myers: https://www.linkedin.com/in/drew-myers-8764aa22/ David Weisburd: https://www.linkedin.com/in/dweisburd/

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Links: CrossLayer Capital: https://www.crosslayercap.com/

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Questions or topics you want us to discuss on The 10X Capital Podcast? Email us at david@10xcapital.com

TIMESTAMPS:

(0:00) Episode Preview (2:01) Investment strategy: emerging vs. established managers and fund structures (4:20) Identifying alpha in venture and liquid crypto investments, comparison to biotech (6:12) Diligence and alignment in GP-LP relationships; lessons from Makena Capital (10:37) Approach to VC China strategy and parallels in crypto; early market mistakes (16:01) Divergent interests between GPs and LPs; systematic frameworks and investment theses (18:27) Portfolio construction and diversity with idiosyncratic bets (22:12) Pre-seed investments and their impact on return profiles (24:11) Managing risk in volatile markets and differentiating managers (27:26) Persistence of top quartile returns and market cycle impacts (29:30) Advice for institutional LPs entering crypto; regrets and lessons at Crosslayer (33:33) Closing remarks

E96: “100% Alpha Portfolio” - Levy Family Partners Sep 19, 2024

Show notes

Michael Wallach, Vice President of Investment at Levy Family Partners sits down with David Weisburd to discuss the unexpected challenges of working at a family office, how to leverage expert insights to drive high-impact investments, and critical mistakes LPs should always avoid.

The 10X Capital Podcast is part of the Turpentine podcast network. Learn more: turpentine.co

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X / Twitter: @dweisburd (David Weisburd)

LinkedIn: Michael Wallach: https://www.linkedin.com/in/mike-wallach-8b75291/ David Weisburd: https://www.linkedin.com/in/dweisburd/

Questions or topics you want us to discuss on The 10X Capital Podcast? Email us at david@10xcapital.com

TIMESTAMPS:

(0:00) Episode Preview (1:51) Investment strategy and differentiation in alpha/beta strategies (3:34) Sourcing and diligence process for direct deals (6:31) Managing portfolio drawdowns and liquidity (8:12) Importance of data room contents for decision making (9:45) Emphasis on reputation in investment decisions (10:53) Asset class allocation and planning (11:47) Key takeaways from experiences at Levy Family Partners (14:21) Pain points for GPs and LPs' leverage points (15:57) Unique advantages and advice for family office operations (17:25) Closing remarks

E95: How to Raise Private Equity in 2024 Sep 17, 2024

Show notes

Les Baquiran, Founder of Alpine Capital Advisors, sits down with David Weisburd to discuss insights on building LP relationships globally. In addition, they discuss reasons GP’s hire placement agents, benefits of family offices as LPs, and non-traditional structures LPs like to invest in.

The 10X Capital Podcast is part of the Turpentine podcast network. Learn more: turpentine.co

X / Twitter: @dweisburd (David Weisburd)

LinkedIn: Les Baquiran: https://www.linkedin.com/in/les-baquiran/ David Weisburd: https://www.linkedin.com/in/dweisburd/ Alpine Capital Advisors: https://www.linkedin.com/company/alpine-capital-associates/

LINKS: Alpine Capital Advisors: https://alpineca.com/

Questions or topics you want us to discuss on The 10X Capital Podcast? Email us at david@10xcapital.com

(0:00) Episode Preview (2:22) Lessons learned working at Park Hill (5:31) The life cycle of working with a GP (8:02) Geographical reach and strategy for Latin America (11:54) Raising capital from LPs in different regions (19:12) Common problems LPs face in the current market (21:22) The impact of illiquidity on LP investment strategies (23:34) Examples of bad behavior by GPs (29:27) Building strong LP-GP relationships (33:10) Les Baquiran's LP roundtables and gatherings (36:47) The nuances of being a placement agent (40:25) Closing remarks

E94: How to Invest $70 Billion Sep 12, 2024

Show notes

Tony Meadows, Partner at Sinefine sits down with David Weisburd to discuss what initial investment choice could make or break your portfolio, when to dive into early-stage investments, and how strategic timing can turn ordinary investments into extraordinary gains.

The 10X Capital Podcast is part of the Turpentine podcast network. Learn more: turpentine.co

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X / Twitter: @dweisburd (David Weisburd)

LinkedIn: Tony Meadows: https://www.linkedin.com/in/tonymeadows/ Sinefine: https://www.linkedin.com/company/sinefine/ David Weisburd: https://www.linkedin.com/in/dweisburd/

LINKS: Sinefine: https://www.sinefine.co/

Questions or topics you want us to discuss on The 10X Capital Podcast? Email us at david@10xcapital.com

TIMESTAMPS:

(0:00) Episode Preview (2:44) Asset class selection and adverse selection in investments (3:25) Partnering strategies and execution in co-investments (4:35) Governance, decentralization, and GP relationships (6:54) Portfolio construction and strategy within private equity (8:34) Impact of check size on venture capital investments (11:20) Pension funds' role and challenges in venture capital (13:10) Benefits, returns, and market coverage for pension funds (14:06) Building a venture capital portfolio for pension funds (15:51) Multistage funds, emerging managers, and fund twos (18:17) Outsourcing strategies and manager performance data (23:52) Criteria and challenges of investing with Sinefine (26:37) Gender dynamics in sourcing and generating alpha (31:16) Portfolio construction and diversification at Sinefine (35:16) Working with pension funds and compensation structures (39:14) Closing Remarks

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