Capital Allocators Monthly Newsletter - January 2023

The most powerful words in the English language for a leader are 'I'm not sure, what do you think?'
Richard Branson


Capital Allocators University. Only a few seats remain for our in-person cohort on March 9th!  Join participants from US and Canadian pensions, E&Fs, and family offices. The agenda can be found on our site.

Allocators: Register for CAU LIVE

10 East Fireside Chat. Ted is hosting a fireside chat with retired hedge fund legends Michael Leffell and Jonathan Kolatch on February 7th at the Harvard Club of New York.

Register for Live Stream

Private Equity Deals Accolades. Private Equity Deals recently got named the #1 podcast for private equity dealmakers. Season 2 starts in February!

Subscribe via Apple

Subscribe via Spotify

Read Article

Ted's blog. We have added a Substack blog for 'What Ted's Thinking'. Access is available on both the website and Substack.

Read Blog on Substack

Hot Jobs to Share

Abilene Christian Investment Management Company, Endowment Investment Analyst. The Investment Analyst will be an integral part of the investment team, providing support for investment and strategy decisions.

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Cedars-Sinai Investment Office. The $3 billion Cedars-Sinai Investment Office is looking for a Managing Director of Private Investments and a Managing Director of Public Investments.

View Postings


1. Small Cap Value:  Opportunity from the downturn. I've allocated some capital to small-cap value in the U.S. Contrarian-minded value investors GMO and Verdad both shared their takes on the attractiveness of the opportunity set.

Read Verdad's 'Dot-Com Redux'

Read GMO's 'Time to Dive Deep into Value'

2. Evaluating Character, Ted Gioia. Music critic and art historian Ted Gioia offers a perspective on evaluating people from a different lens than the investment world.

Read 'The Honest Broker'

3. Misaligned Incentives. U.S. Public Pensions with trillions of dollars are managed by small, poorly compensated teams. The misalignment has led to poor performance and a revolving door of employees for years. Canada and Australia have created organizations with better alignment and far better results. Can the U.S. figure it out?

Read 'Investing Novices are Calling the Shots'

4. The Psychology of Spending, Morgan Housel. Morgan dives into the challenges we face in turning what we "should" do and what we actually do.

Read 'The Art and Science of Spending Money'

5. The Psychology of Eating, Joy Lere. Joy is Brian Portnoy's co-founder at Shaping Wealth and takes a psychologist's perspective on better eating.

Read 'Tipping the Scales'


Capital Allocators Episodes

EP.290 Neal Foard - A 25-year advertising and marketing executive, Neal discusses the art of storytelling.

Go to Episode

EP.291 Gregg Lemkau - CEO of MSD Partners, Gregg discusses the evolution of the organization.

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EP.292 Anthony Scaramucci - Founding and Managing Partner of SKybridge Capital and the SALT conference, Anthony talks about the cycle of another winter and another rebirth.

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EP.293 Shundrawn Thomas - Founder and Managing Partner of Copia Group, Shundrawn discusses going from large money manager CEO to social impact entrepreneur.

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EP.294 John-Austin Saviano - Founder of High Country Advisors, John-Austin discusses emerging managers and IC governance.

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Word from our Sponsors

Stream by AlphaSense. Sean Farrel, Chief Compliance Officer (CCO) of Stream by AlphaSense, provides his unique perspective on the role transcription-based research products can play in lowering compliance risk while enabling effective and efficient investment research in his recent whitepaper, Advancements of Transcript-Based Products for Fundamental Research: The Compliance Perspective.

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Northern Trust. Asset owners are becoming increasingly more complex and powerful in the way they manage their portfolios. EVP and Head of Asset Owners Americas, Melanie Pickett, discusses this complexity, the impacts of trends influencing asset owners, and how Northern Trust is supporting the asset owner community. One of these podcasts should be very familiar!

Listen to Melanie Pickett on Faster-Forward

Listen to Melanie Pickett on Capital Allocators
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