CFA DFW Charterholder Chatter

Our podcast is all about the journey, not the destination and today’s special guest has dedicated her professional journey to areas she deeply cares about as she is an inspiration to many throughout the world with her research, writing, and speaking, all in her unique style of communication, which is clear, valuable, and humorous. Meredith Jones is a well-known expert in the investment industry with over 20 years of experience. Who else can claim a successful TedTalk, being an award-winning author, testifying before the U.S. House of Representatives Financial Services Committee on Diversity and Inclusion, and creating the first Women in Alternative Investments Hedge Fund index? She was also a regular columnist for Institutional Investor and Market Watch. She won’t tell you this, but we will – she is a rock star in our industry with a unique talent and ability to make others laugh while they are learning. Currently Managing Director and ESG Practice Leader at EY, and Founder of MJ Alternative Investment Research, Meredith is a board member of Rock the Street, Wall Street, which offers programs to educate and equip high school girls with the skills to succeed financially and potentially pursue a career in finance. She was previously a Partner, Global Head of Responsible Investing at Aon, and held senior roles at Rothstein Kass, Barclays Capital, PerTrac Financial Solutions, and Van Hedge Fund Advisors. She is the author of Women of the Street: Why Female Money Managers Generate Higher Returns (And How You Can Too) which provides insight into the behavioral, biological, and cognitive edge female investors can provide.  Her research on emerging managers (initiated in 2006) and women and minority-owned funds created new investment categories. It has changed the way investors and money managers behave - both in the way investors allocate and how money managers market to and seek investors. On today’s episode, Meredith shares more about her personal and professional journey, being a strong female voice in a male-dominated industry, and why the combination of intelligence and humor makes her such an effective communicator.

The path to managing a billion-dollar university endowment is not always the same, and in the case of Geeta Kapadia, there were twists and turns along the way. As the CIO at Fordham University, Geeta is a key member of the University’s executive leadership team, collaborating with the Board of Trustees Finance and Investment Committee and senior leaders in finance, to develop and execute the University’s investment strategy. Prior to joining Fordham in August of 2022, Geeta was the associate treasurer for investments with the nonprofit Yale New Haven Health System, the largest health care system in Connecticut, responsible for over $5 billion in assets. Before her long tenure at Yale, Geeta was a senior investment consultant at Mercer, and investment analyst at Capital Metrics. She is a CFA Charterholder, and longtime member of the CFA Institute, having served on its disciplinary review committee, graded exams, and mentored several investment professionals throughout their pursuit of the CFA Charter. On today’s podcast, Geeta talks about her unique path to our industry and leadership roles, guidance for young professionals, and inspiration we can all use during difficult and uncertain times.

My friends and family know my love for the University of Texas at Austin, even down to the color burnt orange. However, my one regret is not being a more dedicated and disciplined student. It took me a few years to mature and embrace learning something new. On this episode, I am honored to be joined by a long-time friend and professor of instruction in the finance department at the University of Texas at Austin, Sandy Leeds, who taught mostly graduate students for the first 16 years, and for the past 6 years, he has taught a class to senior undergraduate students. He has a unique skillset of articulating financial markets, monetary policy, and the intersection between the economy and the markets so that we all better understand what’s really going on. His prior experience as an attorney and money manager brings a unique perspective when he talks to his students, authors books, or speaks about the markets. He has degrees from the University of Alabama, the University of Virginia, and the University of Texas McCombs School of Business. In addition, Sandy ran the UT MBA Investment Fund for over 12 years. Today, he shares insight into his professional journey, great teaching moments for him and his students, and how in the world he pulls for Alabama when they play Texas and expects to remain alive in Austin. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

Can nice guys finish first? In the kill-or-be-killed world of raising assets at investment firms, it’s refreshing to know that people like Tom Meyers are committed to investing in long-term relationships, not just hunting for the next transaction. This mindset and talent have produced extraordinary results at every organization he took on the challenge of building. Today, he is the Senior Director of Investments and Strategy Development at Franklin Templeton, leading their global efforts for fixed-income strategies. Previously, Tom served as Executive Director, Head of Americas Client Solutions for Aviva Investors, Prior to joining Aviva, he was Managing Senior Investment Director at Legal and General Investment Management America, where he successfully launched its institutional efforts in the U.S., growing assets to $100 billion. Tom also held senior distribution and investment positions at Seix Investment Advisors, Phoenix Investment Partners, and Conseco Capital Management. Before finding his true calling in building and leading distribution, he spent his first 10 years in the industry as a credit trader, research analyst, director of credit research, and portfolio manager. Tom graduated Magna Cum Laude and Phi Beta Kappa from Brown University with a dual bachelor’s degree in Organizational Behavior and Management and Psychology. He holds the CFA designation, and previously served two different terms as president of the CFA Society of Indianapolis. In this episode, Tom shares more about his unique professional journey, his approach to building long-term relationships with allocators, and what continues to motivate him to take on new challenges. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

How in the world do you squeeze 20 minutes of conversation with a marketing legend in our industry who has spent over 4 decades helping asset management firms and their people grow? Jackie Charnley is universally known for her caring personality, success with clients, and radiant smile that is contagious even on a zoom call. She is Chairman of the consulting firm, Charnley & Rostvold, which helps investment management companies and institutional consultants with their marketing strategies, working with CEOs, CIOs, sales, and marketing teams. Areas of expertise include marketing plans, competitive positioning, key messages, and presentation development. A graduate of the University of California at Irvine, Jackie has been a frequent speaker at industry events and served on numerous professional boards. Our podcast talks about the importance of soft skills for investment professionals, changes to prepare for, her excitement for innovation, and the benefits of diverse people and their independent voices.  Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

I have always been intrigued with people willing to take risk with their career and in the investment world. Our guest today, Apurva Mehta checks both boxes as he along with Patrick O’Connor, started Summit Peak Investments in the summer of 2018. The firm provides capital to venture capital funds and emerging companies, focusing on several themes within the technology sector.  Before forming Summit, Apurva spent 7 years as the Deputy CIO at Cook Children’s Health Care System, was Director of Portfolio Management at The Julliard School, and spent his initial years at Neuberger Bergman, Lehman Brothers, and Citi Institutional Consulting. He earned a BBA in Finance at George Washington University. On this episode, we talk about Apurva’s professional journey, the importance of diversification with VC, and what skills and background make the most successful VC investors. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

One of the biggest challenges for asset managers is effectively articulating their stories and raising significant capital for their strategies and funds. Our special guest for this episode is a rock star in the global institutional asset management arena, with expertise for alternative investment firms. Over the course of 25 years, she has raised over $28b, and built 4 fund-of-funds from scratch.  Rachel Minard launched Minard Capital in 2011, Minard Capital Media in 2014, Minard Venture Capital in 2015, and the innovative concept, Minard Guild, which we further discussed during our chat. Minard Capital supports or replaces global marketing teams to help identify, qualify, grow, and close new business. We talk about her unique journey, the history and future of capital raising, and what she is most excited about for the future of our industry. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

What’s it like to be responsible for investing $35 billion on behalf of state employees and retirees and managing a staff of 80 people? While at the Employees Retirement System of Texas, Tom Tull was involved with over 200 completed investment transactions totaling $13 billion encompassing private equity, private credit, private real estate, global credit, hedge funds, and special situations. He served in this capacity since 2009 and was responsible for all aspects of public and private markets investments. Prior to ERS, Tom was the Founding Partner of Gulfstream Global Investors and managed the pension investments for LTV Corporation and Cleveland-Cliffs Iron Company. He has degrees from the Ohio State University and Xavier University, is a CFA charterholder, and serves on the advisory board of several organizations, including our local CFA society in Dallas-Ft. Worth. Today, Tom joins me to share more about his professional journey, proud and challenging moments in his career, investment decisions, and aspirations for his legacy.  Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

Our special guest today thought he was going to be a veterinarian, and yet somehow ended up in portfolio management, with a focus on global value investing. Dave Iben is the Founder, Chief Investment Officer, and Lead Portfolio Manager at Kopernick Global Investors, which manages roughly $7 billion dollars, utilizing a distinctive philosophy and a time-tested investment process focused on fundamental bottom-up research that Iben has been implementing for nearly four decades.  Previously, he managed money at Vinik Asset Management, Tradewinds Global, and Palladian Capital Management. Dave earned his bachelor’s degree from the University of California, Davis, and his MBA from USC. He holds the CFA designation as well. In today’s episode, we hear about the importance of independent thinking, buying something you understand that is selling for less than its worth, shopping for value globally that provides the biggest opportunity set, and taking advantage of irrational thinking.  Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

Nick Tompras founded ACR Alpine Capital Research in 1999 to fulfill his vision of an asset manager built solely on fundamental investment principles. He developed ACR’s core investment philosophy and policies, and authors the firm’s quarterly investment commentary. He is the lead Portfolio Manager of ACR’s flagship Equity Quality Return (EQR) strategy and serves as Co-Portfolio Manager of the firm’s Multi-Strategy Quality Return (MQR) strategy. Prior to forming ACR, he was Portfolio Manager at the asset management subsidiary of what is now US Bank. Nick earned his degree in English from Southern Methodist University (SMU) in Dallas and is a CFA charter holder. Nick joins the chat to share more about his professional journey, commitment to a successful investment strategy, and what most excites him during these challenging and uncertain times. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

Season 2 of our podcast finds us expanding outside the DFW area to spend time in Boston with Mike Even, former co-head of global investments at Citi and Chairman at Man Numeric. With degrees from Cornell and MIT and a CFA Charterholder, you won’t find a brighter yet more humble investment professional. He currently serves on the investment committee of the MASS PRIM Board, and on several advisory committees for young companies in the FinTech and responsible investing areas. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

What an honor to spend time in person with the one and only Luther King. So genuine and humble, he is still learning from the younger generations, believing “you take care of your clients, and they will take care of you”. Luther shares more details about his professional journey, his motivation for giving back, and his excitement for the future of our industry and professionals.  He founded Luther King Capital Management (otherwise known as LKCM) in 1979 in Fort Worth, Texas. With additional offices today in Austin, San Antonio, and Dallas, the firm is independently owned, and provides investment advisory services to high-net-worth individuals, families, and a wide variety of institutions, employing 100 people, and managing over $25b in assets. Luther’s professional career began in 1963 as a credit analyst at First National Bank of Fort Worth. Enlisted in the U.S. Air Force Reserve, he was honorably discharged in 1968. Two years later, he went to work as a senior investment officer for Shareholders Management Company (which later became a part of American General Insurance).  In 1973, he joined Lionel D. Edie & Company – a New York-based investment firm – as Director and Manager of the Dallas office. The company was sold five years later, and in 1979, Luther founded LKCM. Within the categories of leadership, contributions, awards and recognition, Luther has clearly dedicated his life to giving back to many institutions, including, but not limited to Employees Retirement System of Texas, UTIMCO, TCU, CFA Society of DFW Strategic Advisory Board, and four public companies. Today, the Teresa and Luther King Entrance marks a prominent boundary on the TCU campus along with the King Family Commons. In fact, Six 600 Horned Frogs live in the Teresa and Luther King Residence Hall. Across campus, students at the Neeley School of Business hone their skills at the LKCM Center for Financial Studies, and a significant number have become interns at his firm. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

Local expert and blockchain enthusiast Baxter Hines shares his professional journey and pivot from traditional portfolio management to digital finance, with all topics and concerns up for discussion.  Baxter is Managing Partner and Chief Investment Officer with Honeycomb Digital Investments. He founded the firm in 2020 to provide institutional-grade solutions for investments in digital assets. He was previously a managing director, portfolio manager, and co-lead for several internationally focused value strategies during his 12 years with NFJ Investment Group, a wholly-owned subsidiary of Allianz Global Investors. Prior to his time with NFJ, he was an analyst with the Teacher Retirement System of Texas and worked as a financial systems specialist for Reuters. Baxter holds a bachelor’s degree in economics from the University of Virginia and an MBA in finance from the University of Texas. He is the author of “Digital Finance: Security Tokens and Unlocking the Real Potential of Blockchain”.  He holds the Chartered Financial Analyst designation and is a member of the CFA Society of Dallas Fort Worth. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

You have come to the right place if looking for a conversation about the brain and investing, thanks to this week’s guest, Eric Bennett, who shares his unique experiences connecting brain health with successful investing. Eric has over years of experience in the asset management industry and is the Co-founder, Chief Investment Officer, and Chairman of the Investment Committee at Tolleson Wealth Management, a multi-family office with $8 billion in assets under management. After spending a decade in “Big-4” public accounting specializing in high net-worth wealth planning, he co-founded Tolleson Wealth Management in 1998. Following a five-year sabbatical as the founding Executive Director at the Brain Performance Institute, a neuroscience non-profit that is part of the University of Texas System, Eric rejoined Tolleson in 2017. Eric is a CFA and CPA. He is a member of the advisory board and vice-chairman of the Center for BrainHealth Capital Campaign as well as a Strategic Advisor to Impact Shares and an Operating Partner for Satori Capital. He formerly served on the investment committees for the Baylor University Endowment, Dallas Symphony Foundation, and Communities Foundation of Texas, in addition to serving on the boards of several private companies. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

Sharing his philosophy and process for owning great businesses is Cory Whitaker, Founder, and CIO at Bowie Capital, who, like the legendary Peter Lynch, articulates clarity, passion, and conviction, even going back to his early teens when he bought Nike and still owns to this day.  Cory launched Bowie Capital Management in 2014, serves as an advisory director for Petrus Trust Company, the trustee for the Perot family’s trusts, and serves on the advisory board of the Terry Foundation. He has over 25 years of personal and professional investing experience across all major asset classes. Prior to founding Bowie, Cory was the portfolio manager for public equities and sourced/ executed private equity and debt investments at Perot Investments. Prior to Perot, he worked in New York as an investment associate with J.P. Morgan Partners in private equity and as an investment banking analyst with Citigroup.  Cory was born in Bowie, Texas, hence the name of his firm. He graduated summa cum laude from Texas A&M University where he attended as a Terry Scholar and earned a BBA in Accounting and MS in Finance. He was active in the Corps of Cadets and student government. Cory also earned his MBA with high distinction from Harvard Business School where he was designated a Baker Scholar and awarded the John Loeb Fellowship as the top finance graduate. He is also a CFA Charterholder. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

One of the great local and national legends, Susan Byrne joins the Chat to share more about her incredible and inspiring journey, from finding her way in a male-dominated industry to offering pearls of wisdom for young women to reach their potential in our industry.  Susan the founder and vice chairman of Westwood Management Corp. and served as its Chairman of the Board for over 30 years, with long stretches as CEO, President, and Chief Investment Officer. She also served as a director of Westwood Trust from 1996 to 1999 and again since 2016. She currently serves as a consultant to the company. Susan serves as a Trustee of the Naval Postgraduate School Foundation, has previously served as a board member of the Dallas Museum of Art, Impact Dallas Capital Board, Dallas Police & Fire Pension System, Presbyterian Communities & Services Foundation, UTIMCO, and City of Dallas Employees Retirement Fund. She was a frequent guest on CNBC, featured in numerous financial publications such as Barron’s, Smart Money, Wall Street Journal and Fortune.  Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

This episode will have you on the edge of your seat, thanks to Ryan’s perspective on manager selection, our industry’s progress with diversity, and how he chooses to enjoy the journey of life. Ryan is currently a Founding Managing Partner and CIO at Carbonado Partners, a leading placement agent with a differentiated approach to fundraising for emerging managers. Prior to his current position, Ryan was a Founder and Managing Partner at Pacenote Capital, Head of Investments at Children’s Health System of Texas, and Investment Officer, Interim CIO at the Meadows Foundation. He started his career as an Equity Research Analyst on Wall Street with Smith Barney, BT Alex Brown, and Credit Suisse First Boston, before establishing his own trading company located on the 83rd floor of World Trade Center One. After surviving 9/11, he relocated to Dallas.  Ryan graduated from Yale University, with a Bachelor of Arts degree in Economics. He earned the CFA designation, Financial Risk Manager, Chartered Alternative Investment Analyst, and Chartered Market Technician. Thus, he has a lot of letters after his name. He has been honored many times for his work and leadership, including the Portfolio Construction Award and Healthcare System of the Year award, both by Institutional Investor. Ryan currently serves as a director on the board of Blue Dolphin Energy, Board Member for the Texas Alternative Investment Association, Bridgeway Capital Management, STREAM Foundation, Portfolios with Purpose, Dallas CFA Society, and is an Angel for the Texas Wall Street Women. In addition, Ryan is a Strategic Advisor for Investment Office Resources and serves on the Investment Committee for Texas Employee Retirement System, American Heart Association, Dallas Police and Fire, and Parkland Hospital.  Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

Local Investment Legend Series, featuring Steve Smith, former rocket scientist who successfully made the transition to investment management by having a clearly established, well-understood, and universally agreed upon goal for achieving a mission, whether helping people land on the moon or finding companies that will grow faster than expected while combining the efficiency of technology and wisdom of human experience. Hear who inspired Steve’s life and career and why he is so excited about the future of our industry.  After Steve’s time at NASA, he began his investment management career as a portfolio manager with Wachovia Bank. He ultimately joined the predecessor to Bank of America, where he held a variety of senior investment management positions. Steve was then involved in an academic study in the late 70s at the University of North Carolina, seeking to determine which components of a company generated positive excess returns. It was on these principles that Steve founded Smith Group, and more than 20 years later, it continues to apply them consistently to their portfolios.  Steve earned a B.S. in Industrial Engineering and MBA from the University of Alabama, was awarded the CFA designation, is a member of the CFA Institute and serves on the CFA DFW Strategic Advisory Board. An avid outdoorsman with skiing being the activity I remember the most, Steve’s love for the outdoors has led him to volunteer for several nature-oriented non-profits, including Groundwork Dallas, Audubon Texas, and the Trinity Coalition, where he currently serves as Board Chairman.  Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

With so much negative news and uncertainty with current market and economic conditions around the world, you will enjoy hearing the perspective of Dhruv Maniktala, CIO at True North Advisors, who sees volatility and dislocation as opportunities in areas such as real estate private credit, and closed-end fund arbitrage. We talk about the costs and level of protection of certain hedging strategies, along with investing in private equity and energy. Dhruv is the Chief Investment Officer at True North Advisors & Western Alternative Strategies and has over two decades of experience in the investment industry, spanning both public and private markets. He manages the initiatives of the investment team across traditional and alternative investments, including private equity, energy, real estate, and hedge funds. Dhruv has served in various capacities across a broad spectrum of private and public markets. His Project finance and M&A roles in the private markets were focused on acquisitions of power and water infrastructure assets in Europe, the Caribbean, South America, and the US, including the acquisition and nationalization of the water and power assets of Jamaica. Dhruv received his Bachelor of Technology in Mechanical Engineering from the globally renowned Indian Institute of Technology (IIT) that counts the CEOs of Google and Twitter, among others, as its graduates, and attended the University of Georgia where he earned his MBA and majored in Corporate Finance, Investments and Quantitative Analysis. Dhruv is a CFA Charter holder and a member of the CFA Society of DFW. He serves on the RIA Advisory Board of Research Affiliates and is on the Investment Committee of IFG. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services. 

Join us for a quick and fun discussion with Gregg Ballew, who tells us all about corporate governance, its relevancy to investment managers, best practices and not so best, and why we should pay more attention to the G in ESG. Gregg was in the banking and investment management business for 38 years prior to joining the University of Texas at Dallas in July 2020. He currently serves as a Professor of Practice in Accounting, Business Valuation, and Corporate Governance and is Executive Director of the Institute for Excellence in Corporate Governance at the Naveen Jindal School of Management at UT Dallas. He previously led the Family Wealth Advisory business for ten years at Westwood Management and was Regional Managing Director of the Wealth Advisory Group for Northern Trust in Texas. Previously, he served as President of the North Texas market for Northern Trust and on the bank’s Texas Board of Directors and Management Committee. Gregg has been active in the community over the course of his career and currently serves in leadership roles on several non-profit boards, including the CFA Society Dallas/Fort Worth, Dallas Symphony Association, and the Alzheimer’s Association. In addition, he serves on the Gift Planning Advisory Council at UT Dallas, and he is a Lifetime Honorary Director of The Senior Source. He earned his MBA from The University of Texas at Austin and his BBA from Baylor University. He is a member of the CFA Institute and the National Association of Corporate Directors and is a CFA Charterholder. Disclaimer: All podcast discussions represent only the views and opinions of the host and guests. This podcast in no way constitutes investment advice and is not an offer to buy or sell any products or services.