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Capital Allocators Monthly - June 2022

July 1, 2022
"The cure for anything is salt water: sweat, tears, or the sea."

- Isak Dinesen
Announcements
CAU Decision Making Bootcamp. Join us for a one-hour bootcamp on decision
making, one of the most popular classes of Capital Allocators University.

Ted will teach actionable frameworks with special clips from Annie Duke. You'll learn tips to take back to your teams in the investment office.

The bootcamp will be held on Wednesday, July 20th at 11 AM ET. The cost to attend is $250, and Capital Allocators premium members will receive a 50% discount.

If you’re interested in attending and are not yet a premium member, you may want to consider subscribing first and receive our library of transcripts, weekly newsletter, and a whole bunch more (for effectively half off the first year of membership!).
Register for Bootcamp
Premium Sample
Capital Allocators Premium members receive transcripts, gatherings with show guests, weekly email, and early access to Ted's investment blog and Hot Jobs.
History Rhymes with the Downturn. "History Doesn’t Repeat Itself, but it Often Rhymes." This famous expression (never actually said by Mark Twain) is frequently cited when trying to map the market terrain. The current downturn is no exception, with verses that rhyme with aspects of both the tech wreck in 2000 and the financial crisis in 2008.

The potential for revolutionary technology drove the market to price decades of progress in advance for the internet in 1998-2000 and crypto from 2020-2022. An economic contraction in part caused by leverage in the financial system followed the market crash in 2008 and may lurk below the surface again today. While it’s too soon to know the final stanza of this story, highlighting the past and potential paths forward help keep us centered in turbulent times.
Read Ted's Blog & Subscribe to Premium
A Word from our Sponsor
Anchorage Digital. We are grateful to Anchorage Digital for sponsoring Crypto for Institutions 2! As the most advanced crypto platform for institutions, Anchorage Digital is the premier crypto partner. Featuring unparalleled security, Anchorage offers custody, trading, financing, staking, governance, and the first federally chartered digital asset bank. With support for a wide variety of digital assets, Anchorage is trusted by hedge funds, venture capital firms, banks, family offices, fintechs, treasuries, and asset managers. Some of the largest names in finance have announced their path into crypto by investing in Anchorage Digital — Anchorage raised $430M last year, bringing the company’s valuation to over $3B.
Learn More
Hot Jobs to Share
Reminder to check out our new job board for previously shared positions. For employers, send interesting opportunities to team@capitalallocators.com. For job hunters, Premium members get an early look at these Hot Jobs before the rest of the crowd!

Annie E. Casey Foundation. The foundation is looking for an investment analyst to help manage a $2.4 billion global portfolio of marketable investments.


GuideStone Financial Resources. The Dallas-based fund is seeking an Associate Portfolio Manager to lead the research and asset allocation activities.


Local Pensions Partnership Investments. LPPI manages £18.5bn of pension assets for local government pension schemes and is looking to bring on a Senior Analyst for Global Equities.


State of Hawaii EUTF. The state plan is looking for an analyst to work directly with their CIO in managing their multi-billion dollar portfolio.

View Job Board
Reading
Ordered by reading time: tweets first, books last, and blog posts and articles in between.
1. What to Say to Your LPs Right Now. John-Austin Saviano is the former CIO at UC-Berkeley and founder of High Country Advisors. He offers sage advice to GPs on how to communicate in rocky markets, and we're not just saying that because of how closely his thoughts echo Chapter 10 in Ted's book. Read What to Say to Your LPs.
2. Travel Tips from a Former FBI Negotiator. Chris Voss details how negotiating tactics can be applied to landing travel perks. Chris wrote this article in February 2020. We saved it until it is happily relevant again! Read NYT Piece.
3. The Beauty of Enough. Another gem from Sahil Bloom on how to fight back against the perpetual desire for more. Read The Beauty of Enough.
4. State of Crypto. a16z released a web3 primer – from layer 1 and 2 blockchains to DeFi, stablecoins, and NFTs. The overview is a perfect pairing with our Crypto for Institutions 2 mini-series! Read State of Crypto.

5. Net Interest Blog. Marc Rubenstein is a former financials analyst that writes terrific weekly content about the sector. This sample discusses the importance of branding in AUM growth, flowing nicely from Ted's blog post on ESG. Read Net Interest Blog.
Listening

Capital Allocators Episodes

EP.253:  Sam Zell – Common Sense and Uncommon Profits

EP.254:  Marcos Veremis – Allocator’s Perspective on Blockchain (Crypto for Institutions 2, EP.1)

EP.255:  Stephen McKeon – NFTs and the Consumer in Web3 (Crypto for Institutions 2, EP.2)

EP.256:  Ben Forman – Opportunities in DeFi (Crypto for Institutions 2, EP.3)

EP.257:  Olaf Carlson-Wee – The Future of Crypto (Crypto for Institutions 2, EP.4)

EP.258: Chris Dixon – Frameworks and Investing at Scale (Crypto for Institutions 2, EP.5)

EP.259:  Diogo Monica – Securing Crypto at Anchorage Digital (Crypto for Institutions 2, EP.6)

Manager Meetings Episode


EP.32: Leigh Drogen – Quantamental Approach to Crypto at Starkiller Capital
 
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