Capital Allocators – Inside the Institutional Investment Industry
Allocator and asset management expert, Ted Seides, conducts in-depth interviews with leaders in the institutional investing industry. Guests include Chief Investment Officers from leading allocators, asset managers, strategists, thought leaders, and many more. Our mission is to learn, share, and help implement the process of premier investors. Learn more and join our community at capitalallocators.com.
info_outline
Ashby Monk – Total Portfolio Approach and the Future of Asset Owners (EP.480)
01/12/2026
Ashby Monk – Total Portfolio Approach and the Future of Asset Owners (EP.480)
Dr. Ashby Monk is the Executive and Research Director of the Stanford Research Initiative on Long-Term Investing. Over the last two decades, Ashby has worked closely with some of the world’s largest sovereign wealth funds and pension funds on governance, organizational design, technology, and investment strategy. He is also a co-founder of KDX Management, a venture capital firm focused on investech, a co-founder of several startups in the space, and a repeat past guest on the show. His first and most recent appearances are replayed in the feed. Our conversation explores the increasingly popular Total Portfolio Approach, Ashby’s perspective on the role of AI and data in the investment office of the future, including his work with , a very cool relationship intelligence platform, and examples of innovation at Saudi Arabia’s Public Investment Fund and the New Mexico State Investment Council. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39585590
info_outline
[REPLAY] Ashby Monk – Investor Identity, Navigation, and Resilience (Capital Allocators, EP.312)
01/12/2026
[REPLAY] Ashby Monk – Investor Identity, Navigation, and Resilience (Capital Allocators, EP.312)
Dr. Ashby Monk is the Executive & Research Director of the Stanford Research Initiative on Long-Term Investing. Ashby has studied and advised the largest asset owners in the world for more than twenty years with a particular interest in how to improve outcomes for their beneficiaries and the world. Ash also serves as the Head of Research at Addepar, a fintech company that helps investors make smarter decisions. He has twice appeared on the show – as the 29th guest back in 2017 and again two years ago – and those conversations are replayed in the feed. Our conversation starts with a recent paper Ashby published called Investor Identity: The Ultimate Driver of Returns. We discuss the descriptors of identity and enabling factors that determine each investor’s fingerprint. From there, we dive into technology as an enabler and how technological innovation can improve returns. We then turn to ESG investing and another of Ashby’s recent papers, Submergence = Drawdown + Recovery, that discusses the importance of considering the combined drawdown and recovery period in making investment decisions. For full show notes, visit the episode webpage . Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39585640
info_outline
[REPLAY] - Ashby Monk – Asset Giant Futurist (Capital Allocators, EP.29)
01/12/2026
[REPLAY] - Ashby Monk – Asset Giant Futurist (Capital Allocators, EP.29)
Dr. Ashby Monk is the Executive and Research Director of the Stanford University Global Projects Center. He is also a Senior Research Associate at the University of Oxford, a Senior Advisor to the Chief Investment Officer of the University of California, and the co-founder of Long Game. Ashby advises sovereign wealth funds and large pension funds, and is involved with a bunch of fin tech companies, all of which attempt to create innovative solutions to fixing the financial future for individuals, pensions and countries in the years ahead. Our conversation starts with Ashby’s early work experience and path through academia, and flows into an exploration of next generation, lower cost approaches to active management for large asset owners. We touch on investing in public equity, private equity, venture capital, and hedge funds using examples from the Canadian and Australian pensions, New Zealand Super Fund, and University of California endowment. Lastly, we discuss Long Game, an innovative company seeking to improve personal savings in the U.S. Ashby is a passion-driven, creative thinker who rightfully has the ear of some of the most important pools of capital in the world. His ideas will change the way you think about allocating capital. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39585660
info_outline
Mike Gitlin – The Century of Capital Group (EP.479)
01/05/2026
Mike Gitlin – The Century of Capital Group (EP.479)
Today’s episode continues our ongoing mini-series covering organizations that have proven to be great training grounds of talent. There may be none larger and quieter than Capital Group, the $3.2 trillion global asset manager whose 650-person investment team and 9,400 associates have historically experienced a fraction of the turnover of industry norms. My guest is Mike Gitlin, the CEO of Capital Group, known for its long-term philosophy, private ownership, and multi-manager investment system. Founded in 1931 by Johnathan Bell Lovelace, Capital Group is one of the industry's largest and most enduring active managers. Mike joined the firm as a lateral hire in 2015, after more than two decades across the buy side, sell side, hedge funds, and global markets. Our exploration of Capital Group covers Mike’s path through the investment industry, Capital’s approach to recruiting and training talent, ownership model, client-centric focus, Capital System investment model, organization of a large, global team, and new product development. We close with Capital Group’s five-year strategic plan as it approaches the firm’s hundred-year anniversary in 2031. I’ve been fascinated by Capital for most of my life, as it was the professional home for my uncle, the late Jim Rothenberg, for his entire 45 year career. It is a privilege for me to share this conversation with memories of Uncle Jim in mind. Learn more about our Strategic Investments: , , and . Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39585510
info_outline
Top 5 of 2025: #1: Howard Marks
12/29/2025
Top 5 of 2025: #1: Howard Marks
We’re counting down the top 5 episodes of 2025. Coming in at #1 is the legend, Howard Marks from Oaktree. I waited a while to have Howard on the show to capture a moment where one of his Memos particularly caught my eye. That happened when he wrote 'Gimme Credit' earlier this year. We dive into his thoughts on the implications of the growth of private credit for investors. With that, I hope you sprint to the finish line of this year with all the gusto in your soul, and come out on the other side of the ball drop with renewed excitement, aspirations, and energy for the year ahead. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39502200
info_outline
Top 5 of 2025: #2: Ian Charles
12/29/2025
Top 5 of 2025: #2: Ian Charles
We’re counting down the top 5 episodes of 2025. At #2 is Ian Charles from Arctos Partners. Before founding Arctos alongside Doc O’Connor to dominate the sports investing sector, Ian spent his career creating liquidity solutions in private markets. Arctos’ second strategy goes back to his roots, providing solutions for GPs. In all of his work, Ian is intensively research and data-driven, and he brings that to bear to describe the current state of private market businesses. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39501955
info_outline
Top 5 of 2025: #3: Tim Sullivan
12/29/2025
Top 5 of 2025: #3: Tim Sullivan
We’re counting down the top 5 episodes of 2025. Coming in at #3 is Tim Sullivan. Tim joined the Yale Investments Office in 1986, a year after David Swensen arrived, and retired this year. In his 39 years in the saddle, he led Yale’s private equity investing, which was the biggest return driver in the biggest success story over the last four decades. He shares four decades worth of wisdom and insights in our conversation. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39501670
info_outline
Year in Review 2025 (EP.478)
12/22/2025
Year in Review 2025 (EP.478)
For this year's annual review, our CEO Hank and I cover investment trends across private and public markets and top-of-mind issues for allocators. We then discuss highlights of the podcast and our efforts to improve discoverability of great episodes, outstanding asset management fintech products, and Capital Allocators University. With the Year in Review, we also kick off our countdown of the most popular episodes of 2025. We’ll drop two this week and the top three next week. Wishing you a relaxing, enjoyable, and very happy holiday! Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39464775
info_outline
Top 5 of 2025: #5: Adrian Meli
12/22/2025
Top 5 of 2025: #5: Adrian Meli
We’re counting down the top 5 episodes of 2025. Coming in at #5, is Adrian Meli from Eagle Capital. It’s a fun, nuanced exploration of applying the most sophisticated tools of hedge fund investing to long only public equities. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39464825
info_outline
Top 5 of 2025: #4: Alex Sacerdote
12/22/2025
Top 5 of 2025: #4: Alex Sacerdote
We’re counting down the top 5 episodes of 2025. At #4, it’s Alex Sacerdote from Whale Rock Capital. Alex is a passionate TMT investor who describes how he finds companies ascending their S-curve of adoption. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39464855
info_outline
Matthew Dicks – Storytelling Mastery (EP.477)
12/15/2025
Matthew Dicks – Storytelling Mastery (EP.477)
Matthew Dicks is a bestselling author, award-winning storyteller, and consultant on storytelling to Fortune 500 companies, including four of the Mag 7, and nonprofits, including Yale, Harvard, and the FBI. His bestselling books, Storyworthy and its business companion, Stories Sell, are my favorite books on storytelling. Matt spent a decade as a manager at McDonalds, twenty years as a wedding DJ, and will retire this year after 27 years as a middle school teacher. He’s written six fiction and three non-fiction books in total and won a record 62 MOTH StorySLAM competitions and nine GrandSLAM championships. Our conversation starts where it should – with Matt telling a story. We then go through his process of finding great stories, constructing the beginning, end, and path along the way, enhancing elements, and giving presentations. Matt has gifts for both storytelling and teaching, and that combination offers incredible lessons to apply storytelling in our work. After his retirement in June, Matt will be more available to help others tell impactful stories. You can find him at or . Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39374235
info_outline
Josh Wolfe & Brett McGurk – Venture, Geopolitics, and the Next Frontier (EP.476)
12/08/2025
Josh Wolfe & Brett McGurk – Venture, Geopolitics, and the Next Frontier (EP.476)
Josh Wolfe and Brett McGurk are Partners at Lux Capital, a $5 billion venture capital firm that specializes in emerging science and technology companies that turn sci-fi into sci-fact. Josh co-founded Lux and is a repeat past guest on the show. His first appearance from 2018 discusses his story, including phrases: 'chips in shoulders put chips in pockets,' 'failure comes from a failure to imagine failure,' and 'directional arrows of progress.’ Brett joined Lux last year, following a 20-year career in public service where he advised four U.S. presidents and helped shape national security strategy across the Middle East. Our conversation kicks off with Josh’s state of the venture industry and Lux’s positioning within it. Brett then describes his background, sovereign ambitions, and geopolitical risks. We discuss directional arrows of progress across AI, cap-ex maintenance, biology, defense systems, and space. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39279030
info_outline
[REPLAY] Josh Wolfe – Seeing the Lux (Capital Allocators, EP.65)
12/08/2025
[REPLAY] Josh Wolfe – Seeing the Lux (Capital Allocators, EP.65)
Josh Wolfe is the co-founder of Lux Capital, a $1.5 billion venture capital firm formed to support scientists and entrepreneurs who pursue counter-conventional solutions to the most vexing puzzles of our time. Josh’s innovative thought process across his activities offers frameworks and insights applicable across the spectrum of investing. Our conversation covers Josh’s early passion for science and finance, building a competitive advantage in venture capital from scratch, sourcing ideas, conducting due diligence, making investment decisions, constructing portfolios, making exits, learning from mistakes, navigating a challenging private equity environment, posting on Twitter, active vs. passive management, dinner table conversation, and life lessons. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39279660
info_outline
Robert Boucai & James Broyer – Tax-Efficient Multifamily Real Estate at Newbrook (EP.475)
12/04/2025
Robert Boucai & James Broyer – Tax-Efficient Multifamily Real Estate at Newbrook (EP.475)
This Sponsored Insight features Robert Boucai and James Broyer. They are the Co-Founders of Newbrook Capital Properties, a multifamily real estate investment platform built to generate optimal long-duration, tax-efficient income. Robert is also the Founder of Newbrook Capital Advisors, a hedge fund he launched twenty years ago that today manages $1 billion across long-short and long-only strategies. He was born with sensorineural hearing loss and today serves on the Board of the Hearing Health Foundation, which is dedicated to preventing and finding cures for hearing loss. Our conversation covers Robert’s path from real estate to hedge fund investing and back to real estate. We discuss the real estate strategy he designed with James, including alignment, market and asset selection, property improvement, and supply-demand drivers to create durable rental growth. We close with risks, synergies with Newbrook’s public equity business, and plans to scale the real estate platform. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39258555
info_outline
John Khoury – Asymmetry and Opportunity in Public Real Estate at Long Pond (EP.474)
12/01/2025
John Khoury – Asymmetry and Opportunity in Public Real Estate at Long Pond (EP.474)
John Khoury is the Founder and Managing Partner of Long Pond Capital, a hedge fund that specializes in publicly traded real estate securities. After 15 years in the business, Long Pond is one of the few remaining firms in the niche. Long Pond recently launched an active ETF, ticker: LPRE, which invests in the most attractively priced stocks from Long Pond’s list of the highest-quality real estate businesses. Our conversation covers John’s path into public real estate investing, changes in the investable universe, and the impact of passive flows and pod shops on the sector. We turn to Long Pond’s investment process, focused on identifying and exploiting asymmetry, and cover John’s perspectives on the major real estate sub-sectors. We close with a discussion of Long Pond’s new actively managed ETF. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39200480
info_outline
Michael Kelly – Democratizing Access to the Middle Market at Future Standard (EP.473)
11/24/2025
Michael Kelly – Democratizing Access to the Middle Market at Future Standard (EP.473)
Our continuing exploration of the intersection of private wealth and alternatives takes us to Future Standard, one of the largest distribution platforms bringing the wealth channel exposure to the middle markets. Michael Kelly is Co-President and Chief Investment Officer of Future Standard, a $90 billion alternative asset manager focused on private middle-market strategies for the wealth channel. Michael has been in the alternatives industry for three decades, starting as an analyst under Lee Cooperman and Julian Robertson, helping build FrontPoint Partners, which began the institutionalization of hedge funds, serving as CEO of ORIX USA, where he led the acquisition of $250 billion global asset manager Robeco, and for the last decade turning to the democratization of alternatives. Our conversation covers Michael’s path from working in hedge funds to building alternative asset businesses, including lessons about incentives, leadership, and culture. We then discuss his pivot from the institutional market to the wealth channel, and the growth from a single strategy at Franklin Square with $12 billion in assets to a full suite of strategies under the rebranded Future Standard with $90 billion across private credit, private equity, real estate, infrastructure, and multi-asset investing. Michael also shares his views on performance expectations and what the flood of new capital means for the institutional market. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39129475
info_outline
Daniel Mahr – Glass Box Quant at MDT Advisers (EP.472)
11/20/2025
Daniel Mahr – Glass Box Quant at MDT Advisers (EP.472)
This Sponsored Insight features Daniel Mahr, Head of MDT, the $26 billion quantitative equity investing group at Federated Hermes that oversees a suite of actively managed mutual funds, ETFs, collective investment trusts, and separately managed accounts. Dan joined the firm in 2002 as a junior analyst and took over leadership of the team six years later, guiding its evolution through vast changes in data, computing power, and investment methodology. Our conversation traces Dan’s path from flipping IPOs as a college student to running machine learning models across global equity markets. We discuss the development of MDT’s decision tree framework — a “glass box” approach to stock selection that blends transparency with sophistication — and how the team balances analytical rigor with human judgment. Dan explains lessons from two decades of modeling markets, including the challenges of overfitting and underfitting data, and MDT’s steadfast focus on analytical edge, rather than informational edge. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39096215
info_outline
David Lyon – Hybrid Capital Solutions for Private Assets (EP.471)
11/17/2025
David Lyon – Hybrid Capital Solutions for Private Assets (EP.471)
David Lyon is Managing Director and Head of Capital Solutions at Neuberger Berman, where he oversees $10 billion of AUM and deploys $2-3 billion each year originating large scale financing solutions to premier sponsor-backed companies. Over three decades, David was the first arbitrage analyst at Och-Ziff in the mid 1990s, an associate at one of the then largest private equity firms in the late 1990s, and a fundamental, distressed debt investor at quant hedge fund DE Shaw through the GFC. His experiences offer a deep understanding of both sides of the balance sheet, which he brought together in hybrid capital solutions over the last decade. Our conversation traces his journey, lessons learned along the way, and perspectives on today’s private markets. We then discuss the need for flexible capital solutions to address private equity liquidity challenges, competitive differentiation in the space, and the process for making it happen across sourcing, creating solutions, and managing risk. Along the way, David shares his refreshingly honest views on investor expectations, leveraged capital structures, good and bad investments, and incentives that help navigate an increasingly crowded marketplace. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39028590
info_outline
WTT: The Sydney Sweeney Interview
11/14/2025
WTT: The Sydney Sweeney Interview
Ted breaks down a recent viral video to highlight three important interviewing techniques shared at Capital Allocators University. Read Ted’s blog . Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/39028560
info_outline
Jay Ripley – Emerging Manager Selection at GEM (EP.470)
11/10/2025
Jay Ripley – Emerging Manager Selection at GEM (EP.470)
Jay Ripley is the Head of Investments and Deputy Managing Partner at Global Endowment Management, or GEM, an endowment-style outsourced CIO overseeing $12 billion. Jay joined GEM in 2014, following six years in private equity where he developed an analytical rigor and mindset of an owner-operator. GEM’s Co-CIO Matt Bank joined me on the show last year for a broader discussion of the firm, and that conversation is replayed in the feed. Our conversation dives into manager selection, particularly with early-stage funds. We discuss Jay’s entry into the business, transition from GP to LP, and GEM’s approach to identifying and backing emerging managers across buyouts, venture capital, and hedge funds. Jay shares insights on the evolving landscape for independent sponsors, the challenge of manager selection amid dispersion, and the art of staying early without chasing scale. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/38947110
info_outline
[REPLAY] Matt Bank - "GEMs" of Risk, Asset Allocation, and Manager Selection (EP.419)
11/10/2025
[REPLAY] Matt Bank - "GEMs" of Risk, Asset Allocation, and Manager Selection (EP.419)
Matt Bank is the Deputy Chief Investment Officer at GEM, an OCIO that manages $12 billion for forty clients. GEM was founded in 2007 by investment leaders at The Duke Endowment and Duke University Investment Management Company. Our conversation covers Matt’s path to investing under recent guest David Salem and lessons learned about risk and governance while under his tutelage. We then turn to Matt’s move to GEM and its positioning in the OCIO industry. We cover GEM’s approach to asset allocation and manager selection, and close with Matt’s thoughts on active and passive investing, venture capital, hedge funds, and drivers of success going forward. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/38947150
info_outline
Dave Thornton – Unlocking Venture Access Through Stock Options at Vested (EP.469)
11/06/2025
Dave Thornton – Unlocking Venture Access Through Stock Options at Vested (EP.469)
This Sponsored Insight features Dave Thornton, the Co-Founder and CEO of Vested, a venture secondaries platform that provides liquidity to the long tail of startup employees whose stock options often go abandoned or ignored and seeks to deliver diversified, attractively priced exposure to the top 20% of venture-backed startups. Our conversation covers Dave’s background bridging entrepreneurship and finance, the dynamics of employee stock options, and the development of Vested’s investment strategy. We discuss sourcing deals, predicting success of start-ups with a quantitative model, constructing portfolios, and avoiding risks. We close by touching on the future of liquidity and indexing in venture capital. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/38916965
info_outline
Jeff Aronson – Building Centerbridge Across the Capital Structure (EP.468)
11/03/2025
Jeff Aronson – Building Centerbridge Across the Capital Structure (EP.468)
Jeff Aronson is Co-Founder and Managing Principal of Centerbridge Partners, a $43 billion alternative investment firm he started in 2005 after two decades at Angelo Gordon. Jeff’s career spans forty years of investing across credit and private equity through multiple market cycles, giving him a front-row seat to the evolution of the alternatives industry. Our conversation covers Jeff’s path from law school to distressed investing, lessons learned under mentors John Angelo and Michael Gordon, and the founding of Centerbridge with Mark Gallogly to bridge the worlds of private equity and credit. We discuss the firm’s distinctive model of investing on both sides of the balance sheet in sector teams, building culture and compensation systems to reinforce collaboration, and adapting strategy through changing credit environments. Jeff also shares his perspectives on late-cycle market behavior, the shifting dynamics of private credit, partnerships with insurers and banks, and the challenge of staying differentiated as alternatives become mainstream. From our sponsor, Morningstar Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/38852360
info_outline
Mike Trigg and Sanjay Ayer – The Discipline of Getting Better at WCM (EP.467)
10/27/2025
Mike Trigg and Sanjay Ayer – The Discipline of Getting Better at WCM (EP.467)
Mike Trigg and Sanjay Ayer are Portfolio Managers at WCM Investment Management, a $120 billion investor in growth stocks, where Mike also serves as Co-CEO. I’ve had the opportunity to chronicle the growth of WCM over the years in conversations with Paul Black, Mike, Sanjay, and other members of the team. Paul first joined the show in 2018 when WCM managed $25 billion, and Mike last appeared four years ago with Paul, describing a piece they had just written entitled How to Build a $100 billion Money Manager. That podcast marked a near-term peak in assets for the firm and subsequently offered a great case study in humility, adaptation, and evolution. In this conversation, we unpack how WCM navigated its most difficult stretch of performance in a long time – what they learned from it, and how they came out stronger on the other side. Mike and Sanjay discuss changes to their investment process, like putting the trajectory back in moat trajectory and searching for the cult in culture, retooling the research funnel, integrating AI as a research partner, and expanding into private markets. As always with WCM, a common thread throughout our discussion is doubling down on the firm’s core values to think different, get better, and serve others. From our sponsor, Morningstar Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/38751005
info_outline
[REPLAY] Paul Black and Mike Trigg – How to Build a $100B Money Manager (Capital Allocators, EP.227)
10/27/2025
[REPLAY] Paul Black and Mike Trigg – How to Build a $100B Money Manager (Capital Allocators, EP.227)
Paul Black and Mike Trigg from WCM Investment Management are both past guests on the show who have taken an investment philosophy focused on culture and moat trajectory to turn a once struggling boutique into a $100 billion powerhouse. Paul came on the show a few years ago when WCM had quietly grown to $25 billion in assets, and Mike joined a year ago to dive into their research process. Their colleague Mike Tian shared another perspective earlier this year when he described applying WCM’s moat trajectory discipline to investing in China. In this continued exploration of WCM, we start with the truly unique facts about the firm’s rebirth a decade ago and turn to key features of its success, including embracing change, the importance of culture - alongside some characteristics of toxic cultures, hiring practices, telling the truth, integrating new team members, managing turnover, and transitioning leadership to the next generation. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/38751165
info_outline
[REPLAY] Paul Black - Gratitude, Fun, and Growth Stocks (Capital Allocators, EP.51)
10/27/2025
[REPLAY] Paul Black - Gratitude, Fun, and Growth Stocks (Capital Allocators, EP.51)
Paul Black is Co-CEO and portfolio manager at WCM Investment Management, a $26 billion manager of global equities that he joined when it was a $200 million boutique in 1989. With so much of the institutional world, including my own training, focused on value investing, I was pleasantly surprised to learn about a large, high performing growth stock manager located in a non-descript building in Laguna Beach, California. Our conversation starts with Paul’s trial-by-fire entry into the business and turns to growth stock investing, including defining a great growth company, searching for widening moats, assessing a culture tied to competitive advantage, creating a positive culture, learning from mistakes, identifying tailwinds, and protecting the downside. Paul embodies the principals he preaches and offers some tasty food for thought. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/38751225
info_outline
Morgan Housel – The Art of Spending Money (EP.466)
10/20/2025
Morgan Housel – The Art of Spending Money (EP.466)
Morgan Housel is a bestselling author, partner at Collaborative Fund, and Board member of Markel. Morgan’s work focuses on the intersection of human behavior and financial decision making. His first book, The Psychology of Money, has sold 10 million copies since releasing five years ago and is already one of the best-selling investment books of all time. His second, Same as Ever, explores human behaviors that never change, and is rapidly approaching 1 million copies sold. Our conversation discusses Morgan’s latest work, The Art of Spending Money: Simple Choices for a Richer Life. I wanted to get him back on the show to share his thoughts on a subject that affects us all. But I wasn’t expecting to have my mind turning on how Morgan’s insights about envy, aspiration, and contentment also apply to the assessment of money managers and corporate executives. His recently released book is another tour de force, and I suspect, once again, will soon hit the best seller list. From our sponsor, Morningstar Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/38612980
info_outline
[REPLAY] Morgan Housel – Same as Ever (EP.359)
10/20/2025
[REPLAY] Morgan Housel – Same as Ever (EP.359)
Morgan Housel is a partner at Collaborative Fund, blogger about behavior and money, and author of The Psychology of Money. The book has sold 4.5 million copies since its release three and a half years ago and already ranks in the top five best-selling books about finance. Morgan recently published his second book, Same As Ever: A Guide to What Never Changes. Our conversation starts with what happened since his last appearance on the show just before the release of The Psychology of Money. We then turn to his latest magnum opus and discuss some of its themes and stories across storytelling, expectations, compounding, risk, incentives, and people. Morgan’s wisdom, humility, and passion for his work come out in spades. He also happens to be a wonderful person and dear friend. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/38620100
info_outline
[REPLAY] Morgan Housel – The Psychology of Money (Capital Allocators, EP.155)
10/20/2025
[REPLAY] Morgan Housel – The Psychology of Money (Capital Allocators, EP.155)
Morgan Housel is a partner at Collaborative Fund and one of my favorite writers about investing. Morgan recently released his first book, The Psychology of Money, and I’ll go on record and predict it will be a best-seller in short order. Our conversation starts with Morgan’s non-traditional education, his path to writing, and his process for writing each week. We then turn to the book and discuss some anecdotes about luck and risk, greed, compounding, patience, and tail events. We close with two of Morgan’s personal stories – one about his own investing and the other, which seems inconceivable as you listen, about his lifelong challenge with stuttering. Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/38619985
info_outline
John Graham – Evolution of the Canadian Model at CPPIB (EP.465)
10/13/2025
John Graham – Evolution of the Canadian Model at CPPIB (EP.465)
John Graham is the President and CEO of Canadian Pension Plan Investment Board, or CPPIB, which oversees $730 billion Canadian ($530 billion USD) making it the 7th largest pension fund in the world. Geoffrey Rubin, Chief Investment Strategist at CPPIB, was a past guest on the show describing the Canadian model and that conversation replayed a few weeks ago as part of our CIO Greatest Hits Summer Series. Our conversation picks up from my conversation with Geoffrey, discussing the evolution of the Canadian model, buzz about Total Portfolio Approach, onset of global competition, and its impact. We discuss John’s leadership approach to leverage the benefits of CPPIB’s size alongside the challenges of doing so across the internal team, external partnerships, global offices, and governance structure. From our sponsor, Morningstar Learn More Follow Ted on Twitter at or Subscribe to the Access Transcript with Editing and post-production work for this episode was provided by The Podcast Consultant ()
/episode/index/show/tedseides/id/38530200