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Past Performers - by InvestOrama

Past Performers - by InvestOrama

Author: George Aliferis, CAIA

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Debunk investing myths, decode pitches, break down marketing strategies from investment firms, and conduct due diligence on alternative assets in conversation with leading independent experts, authors and academics.

No sales pitch. No marketing. No BS.

George Aliferis, CAIA and his guests are on a mission to support the true democratisation of investing.
Past episodes include: Private Equity, Venture Capital, Hedge Funds, Quants, ETFs and index funds, investment technology

A podcast by http://orama.tv
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We conduct a Due Diligence on One Crest Capital, the hedge fund where star portfolio manager Emily, works in Fair Play, streaming on Netflix. Her relationship is collapsing, but can her investments remain solid? 📽 Subscribe on YouTube: http://bit.ly/2FQSunJ (and turn the notifications on) 📩 Join the newsletter: https://bit.ly/3AxnyTY 🧑🏽‍🎓 Check the Alternative Investment Courses https://bit.ly/investorama_courses ABOUT FAIR PLAY An unexpected promotion at a cutthroat hedge fund pushes a newly engaged couple's relationship to the brink. https://www.netflix.com/title/81674326 All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please send me an email, george@orama.tv, and we can sort it out.
A conversation with Aaron Filbeck about CAIA’s new program Unifi by CAIA, why we need a course focused on Private Debt and how to democratize alternative assets the right way, through education. Aaron is Managing Director and Head of UniFi by CAIA™ Listen to InvestOrama Conversations on your favourite podcast app: https://pod.link/1511595070 USEFUL LINKS Aaron https://caia.org/contact/aaron-filbeck-caia-cfa-cfpr-cipm-fdp-co-chapter-head Unifi by CAIA https://caia.org/programs/unifi Private Debt Microcredential: https://unifi.caia.org/?_ga=2.29254777.498243206.1683717981-1667398133.1673049038#/curricula/913376cf-b25b-4fa7-a1bf-ea3555b786db QUOTES ‘ As an industry, we really try to focus on the product itself. And really tout the benefits of the product and not necessarily what the client was trying to accomplish in the portfolio. As we think about Democratization 2.0, I think we have an opportunity, especially in private markets, to think more about and start with what the client's trying to accomplish and then work our way backwards. Does the client really need this? Does it actually work to help the client achieve these different objectives? ‘ ‘There are a lot of new entrants into this market, whether it's a financial advisor, distribution, staff who are now looking at new products for the first time, that really need more of an understanding of how these things work at a more conceptual level. They're not gonna be an analyst or CIO, but they do need to know enough to ask the right questions, understand the jargon, and understand how these different strategies work.’ 'When you look at alternatives broadly, and I think private debt's no exception, the dispersion of outcomes is very wide relative to traditional assets. Some of that is due to manager skill and their ability to deliver. But another piece of that is the style that's being pursued. Like private equity, where you've got different stages of the company's life, you've got different sector focuses. That all leads to dispersion. Private debt is the same in terms of either the strategy, the place in the capital structure, or the type of debt, like distressed debt. There are multiple approaches that you can take.' TIMESTAMPS 00:00 Teaser 00:32 Introducing Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP 01:16 About CAIA 03:04 Unifi by CAIA: bridging the knowledge gap in Alternatives 08:03 Why a course on Private Debt 10:30 The usefulness of private debt concepts for public fixed income investors 12:45 How to approach the debt market as an 'amateur' 14:06 Accessing private debt 15:08 The Paradox of venture debt 18:04 Distressed debt 19:58 Variety of debt instruments and dispersions of outcomes 21:28 The current state of Private Debt and the retreat of Banks 22:17 Discussing a private debt meme (from an FT article) 23:07 Private debt: hype vs opportunity 25:58 The rise of the semi-liquid funds 27:22 Education as a gap between marketing and small prints 28:37 Private debt in portfolio construction 33:10 How can the investment industry navigate the complexity of new asset classes 35:20 On a mission to educate investors 37:45 A renewed professionalism is needed for democratization 2.0 39:09 Conclusion ABOUT Investorama is your guide to the future of investing without the hype. In each episode, reformed investment banker and marketer George Aliferis and his guests take a deep dive into a key topic that shapes our financial future. George is the founder of Orama.tv (podcast & video company), as well as its content arm Investorama, a podcast, YouTube channel and Newsletter. https://linktr.ee/investorama If you’d like to partner with us, sponsor the podcast, or be featured as a guest, please get in touch george@orama.tv
Phil Bak is the CEO of Armada ETFs. Phil has been innovating in the ETF industry for over 15 years. Armada specializes in REIT ETFs, and we go on a deep dive into real estate investing, how investors can use REITS and what’s going on with the Blackstone BREIT Fund. Listen to InvestOrama on your favourite podcast app: https://pod.link/1511595070 EPISODE LINKS https://philbak.substack.com/ https://twitter.com/philbak1 https://www.armadaetfs.com/ https://www.breit.com/ QUOTES “I started looking deeper and deeper into the REIT market, and it, you know, really found some, some very interesting things that I thought nobody was talking about. And you know, specifically, the definition of what a REIT is had been expanding and things that you and I would not consider real estate. And what that means is that investors who are in traditional REIT funds, especially index-based market cap weighted funds, are getting exposure to things that they don't really know that they're getting exposure to that they might not really want.” "The correlations between the different sub-sectors of REITs are very low, meaning that they trade differently than themselves. They're different economies within the REIT world. So where within REITs would you want to be in a more difficult market environment? And for us, that answer is very clearly in the residential space because, the residential REITs are generating their income through rents paid." ABOUT BREIT “ I feel like this fund is  now standing on the edge of a cliff,  at a precipice, right?  Not through mismanagement the opposite, right? Through their success, they are, in fact a victim of their own success. And how does that happen?  Well, embedded in this fund is a lot of leverage, and they have raised a tremendous amount of assets. And they own about 120 billion worth of real estate. And they've had so much success and so many assets coming in that  they've been buying all along the way, and all along at the top.“ TIME STAMPS 00:00 Intro 01:05 Phil Bak's background in product and ETFs 04:38 Real estate is a special asset - Gone with the wind  05:00 Different ways to access real estate and real assets 06:15 Introducing REITs 08:19 REIT rules 10:23 Equity REITs example of HAUS US residential REITS 15:40 REITs in a global portfolio 17:39 Hedging your home purchase with REITs? 19:39 Let's talk about Blackstone's BREIT 20:47 What's happening with private real estate 21:57 The issues and outlook for BREIT 24:32 BREIT and the extraordinary University of California deal 25:32 BREIT's liquidity issue 28:16 Zooming on BREIT's NAV 29:44 Tackling misconceptions about liquidity 32:49 Are public valuations stupid? 33:22 Financial advice from Tony Soprano 34:11 Should we worry about private assets 37:10 Fundamental questions that investors should ask themselves about private assets 37:53 Armada's merger plans 40:07 Conclusion & where to follow Phil Bak ABOUT Investorama is your guide to the future of investing without the hype. In each episode, reformed investment banker and marketer George Aliferis and his guests take a deep dive into a key topic that shapes our financial future.  George is the founder of Orama.tv (podcast & video company), as well as its content arm Investorama, a podcast, YouTube channel and Newsletter. https://linktr.ee/investorama If you’d like to partner with us, sponsor the podcast, or be featured as a guest, please get in touch george@orama.tv
June Felix is the CEO of IG Group, the leading trading platform, and a strong advocate for financial literacy. We discuss the changing nature of retail trading with insights from IG Group and how to empower individuals to shape their own financial future. Listen to InvestOrama on your favourite podcast app: https://pod.link/1511595070 EPISODE LINKS IG Group Academy https://www.ig.com/en/learn-to-trade June Felix on Linkedin: https://www.linkedin.com/in/junefelix/ QUOTES “IG’s web traffic, our YouTube views have increased substantially over this past year, despite markets being rather depressed in terms of equity markets in general. The retail clients want to understand what's going on. This is a global trend that we see across our clients everywhere.” “Defined contribution is a wave that is going to sweep the world and has certainly already started in many parts of the world like the US or Asia. And it will be necessary in Europe as well because defined benefit programs are not sustainable.” "Based on a recent survey of our customers: 82% believe that they can find opportunities even in market downturns, and in challenging markets because they have over time developed the confidence and tools understanding to participate in the market in the right way.” TIME STAMPS 00:00 teaser 00:48 intro 01:14 June's background from chemical engineer to banking & tech 03:01 What is financial literacy 04:05 Schools and financial literacy 05:58 The financial literacy spectrum from basic maths to Black Scholes 07:06 We're no longer defined by a single source of income 08:46 Finding opportunities in challenging markets 10:14 Raising your game as an individual investor 12:16 Is there a conflict between educational and promotional content at IG? 16:41 Is trading too masculine? 18:34 UX and inclusivity 19:54 Switching to a high-rate environment 21:18 No yield hunters at IG 22:26 Discussing the disclaimer on IG trading 24:56 Regulation 28:06 Individuals need to take accountability and responsibility for their future 29:31 Career advice from June Felix ABOUT Investorama is your guide to the future of investing without the hype. In each episode, reformed investment banker and marketer George Aliferis and his guests take a deep dive into a key topic that shapes our financial future.  George is the founder of Orama.tv (podcast & video company), as well as its content arm Investorama, a podcast, YouTube channel and Newsletter. https://linktr.ee/investorama If you’d like to partner with us, sponsor the podcast, or be featured as a guest, please get in touch george@orama.tv
Dan Davies is the author of Lying for Money and an expert on banking crises. We discuss the latest string of banking failures: Silicon Valley Bank, Credit Suisse and what that means for the financial system. EPISODE LINKS Lying for Money https://www.amazon.co.uk/Lying-Money-Legendary-Frauds-Workings-ebook/dp/B078WFT5JV Dan Davies's new substack: /backofmind.substack.com Twitter https://twitter.com/dsquareddigest QUOTES “The trouble with fraud is it's like the evil twin of the real economy. It's part of the real economy, and you can't necessarily get rid of it. And it might be that the optimal amounts of fraud to tolerate might be surprisingly high.” “It was actually Credit Suisse that invented AT1 Bonds in the last crisis. The purpose of these securities is that they are meant to provide capital for a bank that's gone into resolution. They were high-yielding instruments, and that's why they were popular. But everyone getting into these things knew or should have known that if the bank gets into real trouble, they could get zeroed out. "Silicon Valley Bank looks like it's going to be the best bank ever to go into insolvency. It went bankrupt on US government bonds and agency mortgage bonds.” TIME STAMPS 00:00 Intro 00:57 Dan Davies Profile 03:06 The Credit Suisse collapse and AT1 Bonds 05:35 Is it a banking crisis? 10:19 The problem with narrow banks 13:22 The tough job of central bankers 22:04 Fraud and the Canada Paradox 24:25 Difference between hype and fraud 27:40 Vulnerability to fraud in happiness and good times in the 19th century 30:58 Detecting fraud 1: fast growth 33:10 2: People don't change 35:22 3: Check out the product not the demo 39:41 Response to the book 41:46 Narrative history 42:50 Dan's substack and next book ABOUT Investorama is your guide to the future of investing without the hype. In each episode, reformed investment banker and marketer George Aliferis and his guests take a deep dive into a key topic that shapes our financial future. George is the founder of Orama.tv (podcast & video company), as well as its content arm Investorama, a podcast, YouTube channel and Newsletter. https://linktr.ee/investorama
Alex Johnson is a fintech expert and the author of the popular newsletter and podcast Fintech Takes. He discusses with George Aliferis about Silicon Valley Bank, which collapsed after massive deposit outflows and what that means for deposits, savings and investment accounts. LINKS Alex’s Fintech Takes https://newsletter.fintechtakes.com/ Twitter https://twitter.com/AlexH_Johnson QUOTES “It's not really a bailout in the classic sense if you are just rescuing depositors who had nothing to do with the risks that SVB was taking. The management at SVB and the equity holders at SVB are not being rescued.” “We don't carefully analyze the balance sheets of the banks that we work with. We just sort of expect that our money is going to stay in our account, sort of the opposite of the South Park example. So I don't think there was really  any moral hazard or risk  to rescuing depositors” "In the absolute worst case where something goes wrong, you really wanna make sure that that company is keeping careful track so that if they were to go outta business, the partners they work with can sort of track down all the customers and make sure that they get their money back. So, I'm not as concerned in this particular case about FDIC insurance or SIPC, I think that's just a function of what kind of account it is under the surface. I think the bigger question is: how well set up are these FinTech companies to deal with the worst case scenario if they go out of business? And to be candid, a lot of less mature FinTech companies [can be a concern] TIMESTAMP 00:00 Teaser  00:14 Intro 01:15 Alex's Background & The art of the newsletter  08:52 Southpark clip 09:48 Thoughts on Silicon Valley Bank 12:39 The right amount of insurance 16:09 A new service for neobanks? 17:14 Regressive progressive action and annoying VCs 21:33 Marvel Multiverse 22:22 The difference between banking, savings and investing 25:58 A new fintech hybrid model 27:03 The concerns about products looking safe 29:08 We forgot about bank failures 33:06 Reviewing Tellus notes 36:17 Reviewing Public's Treasury product 41:20 What if Public disappeared? ABOUT THE PODCAST Investorama is your guide to the future of investing, without the hype. In each episode, reformed investment banker and marketer, George Aliferis and his guests take a deep dive into a key topic that shapes our financial future.  Episode linksQuotesTime stampsAbout the PodcastGeorge is a reformed investment banker & marketer, who is now running Orama (podcast & video company), as well as its content arm Investorama, a podcast, YouTube channel and Newsletter.
Edward Chancellor is a financial historian, journalist and investment strategist, and the author of  The Price of Time, the real story of interest. This is an essential book for investors who want to understand the impact of interest rates. Episode links Edward’s website: https://www.edwardchancellor.com/ Link to the book: https://www.edwardchancellor.com/books/the-price-of-time Quotes "If interest is an omnipresent phenomenon and the ultra-low rates wormed their way into all economic and financial activity, then it would follow that the everything bubble turns into the everything burst." "If you know history, this late 1990s stock market looks a hell of a lot like the British Railway Mania of the 1840s. You've got a new technology. People are getting very excited about it. Very, very similar patterns. If you know the history, you are aware of the vulnerability of the markets." "You couldn't really understand the world unless you understood interest. And you have to bear in mind the Fed funds rate of 0% and the negative interest rates in Europe and in Japan. But those zero rates and negative rates were the lowest interest rates in five millennia of history. So that, that obviously has to be a noteworthy factor." "If you think about it, it took two and a half years for losses on subprimes to the Lehman's blowup.  Everyone expects that everything happens very quickly, and after the fact, the timeline seems to be compressed. But if you're living through it, actually, it takes much longer." Timestamps 00:00 Teaser 00:19 Introducing Edward Chancellor 01:31 A historian in the investment world 06:21 The study of human activity can't be explained by science 08:46 The historian’s edge 14:30 The problem with models 16:46 The consensus view on interest and inflation 22:04 The 5 roles of interest 27:33 Buffett's quote on interest rates and  gravity 30:40 Interest rates, investment decisions 33:49 The everything bubble 36:15 Where the cracks show 37:48 Active management 38:19 Areas most at risk 39:48 PE troubles 45:58 We are early in the burst 46:52 regional bank problems 47:56 Bubbles burst slowly About the Podcast Investorama is your guide to the future of investing, without the hype. In each episode, reformed investment banker and marketer, George Aliferis and his guests take a deep dive into a key topic that shapes our financial future. George is a reformed investment banker & marketer, who is now running Orama (podcast & video company), as well as its content arm Investorama, a podcast, YouTube channel and Newsletter.
Welcome to a new chapter of the podcast that was formerly known as the FinTech files. It's become Ιnvestorama. The change of name reflects a deeper focus on the investment world and an alignment with the existing YouTube channel, which has reached 16,000 subscribers. https://www.youtube.com/investorama My name is George Aliferis. I'll be hosting this podcast. I used to structure and market investment products based on derivatives and alternative investments for over a decade in big banks. I quit the industry because I was telling my friends and family not to buy the products I was marketing, and this started bothering me.  I'm now trying to distil the insider knowledge that I've gained from this professional experience into the new investment landscape. We're going to approach and dive deep into all of that with selected experts on specific asset classes and current topics. My first guests will be: Edward Chancellor, author of The Price of Time, The Real Story of Interest Alex Johnson, Fintech commentator extraordinaire and author of the Fintech Takes Dan Davies, author of Lying for Money, a book about fraud June Felix, CEO of IG Subscribe on your favourite podcast app to never miss an episode!
This is an interview about Careers in Quant Finance with Christian Kahl, MD, Head of Product Strategy and Client Service at Fincad. Fincad is a leading provider of advanced valuation risk solutions for derivatives and fixed income analytics. Christian holds a PhD in Maths and his career spans 20 years in various leadership roles in quantitative finance.   TIMESTAMPS  00:00 Career Talk: Quant Finance w. Christian Kahl, Fincad  00:17 Introducing Christian and Fincad 02:10 From Maths studies to Quant in finance  03:29 The evolution of quantitative finance education  04:43 The diversity in quant careers  07:37 Christian's approach to recruiting Quants   QUOTES  "Back in those days, a lot of people entered the domain of quantitative finance from a PhD background in mathematics and physics. Part of which is the fact that there wasn't a formal education in financial mathematics, quantitative finance, and definitely a lot less than what we've seen today." "Quantitative finance is a term very widely used across the industry. There are quantitative analysts that sit on the sell side of trading floors writing quantitative libraries in C plus; there are quants in hedge funds supporting various forms of trading activity, trying to get an edge on the market; there are also quantitative analysts in various forms, across risk departments advisory boards, and so forth."   "Client communication is a core aspect of day to day activity [in my team], which somewhat lessens the burden of deep technical skills. It requires us to strike a balance of communication skills as well as technical education."   "I'm a great fan of hiring for talent and potential. And what I'm looking out for in a candidate is a curiosity in mathematics and the skills to learn new things." 🎧More about the Podcast🎧 ► Podcast (audio): https://pod.link/the-fintech-files ►Linkedin https://www.linkedin.com/company/thefintechfiles/ 🔥Community & Education🔥 ►Course on Alternative Investing: https://bit.ly/3mD1Irs ► Join the Discord: https://discord.gg/hArqYBX3v4 ► Alternative Investments Educational Newsletter: https://forms.gle/cJ6AkyyLT7cvhHKQ7 💰Money & Investing💰 ► Blockfi - https://blockfi.com/?ref=cf75f918 (Earn interest on crypto!) ► Coinbase - https://www.coinbase.com/join/alifer_dx (Get $10 in BTC) ► Wise - https://wise.prf.hn/l/7oo8zRE (Transfer up to 500 GBP free) ►SaxoTrader (for options) https://www.home.saxo/en-gb/accounts?cmpid=web_gb_ref&refid=00c3f43a-532f-47ac-922a-33d904baa8d0 👉Connect👈 ► http://instagram.com/fintechorama ►http://twitter.com/fintechorama ►https://www.linkedin.com/in/georges-aliferis-caia-60078312/
This is the inaugural episode of The Fintech Files podcast v2.0 In this episode, I'm speaking with Jim Osman the founder of The Edge Consulting, a research boutique specialising in sourcing special situation investments, such as spinoffs and activist ideas. In this new edition of the podcast, we will separate the conversation into two parts. First, we are going to talk about careers. Then, we will break down a specific financial or fintech topic. In this episode, it will be Special Situation investing. ΤΙΜΙΝGS 00:00 Intro 01:30 Career Talk 19:30 Special Situations Investing LINKS https://twitter.com/EdgeCGroup https://www.forbes.com/sites/jimosman/2021/08/04/the-stock-market-is-at-record-highs-but-corporate-debt-is-ballooning-here-is-one-stock-that-should-benefit/?sh=2fca19ca3f71 https://www.linkedin.com/in/jim-osman-5644938/ https://edgecgroup.com/
George Aliferis and Mark J. Higgins discuss the evolution of the U.S. financial system over the past 230 years, from Alexander Hamilton's foundational contributions to RoaringKitty's Gamestop disruption. They explore the notion of financial progress, the cycles of regulation, what's missing from financial education and advice and how investors can profit from history. Order Investing in US Financial History: https://www.amazon.com/Investing-U-S-Financial-History-Understanding/ TO GO FURTHER 🧑🏽‍🎓 Alternative Investments Course: https://bit.ly/Alts_Invest 📩 Newsletter on Democratization of Alternatives: https://bit.ly/3AxnyTY 🎧Listen to the podcast: https://pod.link/1511595070 AFFILIATE LINK What I use for editing DESCRIPT: https://get.descript.com/1ldhm44pyr0p TIMESTAMPS 00:00 Introduction: What's the point in studying financial history? 01:46 The Legacy of Alexander Hamilton 04:00 The Impact of Hamilton's Death and Early Central Banking 05:35 Crypto and the Importance of Central Banking 07:31 Regulation and Market Dynamics 07:31 Regulation and Market Manipulation 11:52 A quote from Eric BALCHUNAS, The Bogle Effect 12:14 Private Assets and Market Cycles 14:52 A quote from Athanasios PSAROFAGIS, Bloomberg ETF 16:39 A quote from Edward CHANCELLOR, The Price of Time 17:03 The Role of Education in Financial Literacy 17:05 A quote from Bill KELLY, CAIA 21:36 Simplifying Portfolios: Mark Higgins's Personal Journey 26:47 The Value of Historical Perspective in Financial Markets 30:45 A quote from Dan DAVIES, Lying for Money 33:38 The Importance of Long-Term Investing and Education
Exposing the Real Story Behind Blackstone's Real Estate Income Trust (BREIT) Join us as we delve deep into the complexities surrounding Blackstone's Real Estate Income Trust (BREIT), the potential financial reckonings and the broader marketing implications for the democratization of alternative assets. I'm revisiting a previous episode with Phil Bak following recent press about the fund and a revelation: the fund doesn't make financial sense - it makes MARKETING sense! REFERENCES Business Insider: https://www.businessinsider.com/blackstone-breit-commercial-real-estate-fund-misled-investors-private-equity-2024-5 New York Times: https://www.nytimes.com/2024/05/07/business/dealbook/blackstone-breit-fund-debate.html ▶️ Full conversation with Phil Bak: https://www.youtube.com/watch?v=7oQKNcov-7I ▶️ BREIT short video: https://www.youtube.com/watch?v=OBzk9HnpH2o TO GO FURTHER 🧑🏽‍🎓 Alternative Investments Course: https://bit.ly/Alts_Invest 📩 Newsletter on Democratization of Alternatives: https://bit.ly/3AxnyTY Listen to the podcast: https://pod.link/1511595070 AFFILIATE LINK What I use for editing: https://get.descript.com/1ldhm44pyr0p ✨ **Subscribe for more in-depth analyses and industry insights!** ✨ #Blackstone #BREIT #RealEstate #PrivateEquity TIMESTAMPS 0:00 BREIT full 00:24 BREIT's significance beyond its size and profitability 02:22 Interview with Phil Bak in 2023 02:36 The issues and outlook for BREIT 04:00 BREIT and the extraordinary University of California deal 04:59 BREIT's liquidity issue 07:42 Zooming on BREIT's NAV 09:10 Tackling misconceptions about liquidity 11:15 Are public valuations stupid? 13:01 BREIT doesn't make financial sense 14:57 BREIT is about marketing and user experience 16:43 The missing reference: Netflix's House of Cards
Discover the untold truths of the private equity world in this eye-opening episode, featuring Ludovic Phalippou, a renowned professor of financial economics at Oxford University Saïd Business School. Unpack the complex realities of private equity, from misconceptions about past performance to the intricacies of fee structures. Ludovic, known as the "bete noire" of private equity, alongside host George Aliferis, delves deep into the industry's practices, educational challenges, and the urgent need for clearer regulation. On YouTube: https://youtu.be/WKSWrjssSAM REFERENCES ▶️The Book: Private Equity Laid Bare https://www.amazon.co.uk/gp/product/B08T7D4ZQ2?ie=UTF8&psc=1&linkCode=sl1&tag=pelaidbare21-21&linkId=5a158a6c37f97026d9c4da65bfd68a8d&language=en_GB&ref_=as_li_ss_tl ▶️The Website: https://pelaidbare.com/ ▶️ Follow Ludovic on Linkedin: https://www.linkedin.com/in/ludovic-phalippou-5488b147/ ABOUT THE AUTHOR Ludovic specialises in private equity and asset management. Ludovic is the author of the bestseller 'Private Equity Laid Bare', and professor of Financial Economics at Saïd Business School, University of Oxford. He specialises in private market investments with a focus on fee tracking, interest alignment, and return benchmarking. Named as one of 'The 40 Most Outstanding Business School Profs Under 40 in the World' in 2014, and as one of the 20 most influential individuals in private equity in Europe in 2016, Ludovic has strong links with senior practitioners in the industry, routinely speaks at practitioner conferences, and appears in the media internationally. Ludovic’s research papers have been widely cited in academia, in the press, and in regulatory circles. Ludovic's paper 'How alternative are private markets?' is one of three 2018 recipients of the Jack Treynor Prize, sponsored by the Q-Group. The Treynor Prize recognises superior academic working papers with potential applications in the fields of investment management and financial markets. Ludovic achieved a degree in Economics from Toulouse School of Economics; a Master in Economics and a Master in Mathematical Finance both from the University of Southern California; and a PhD in Finance from INSEAD. TO GO FURTHER 🧑🏽‍🎓 Alternative Investments Course: https://bit.ly/Alts_Invest 📩 Join the newsletter: https://bit.ly/3AxnyTY AFFILIATE LINK What I use for editing: https://get.descript.com/1ldhm44pyr0p TIMESTAMP 00:00 Teaser 00:26 Introducing Ludovic Phalippou: The Private Equity "Bete Noire"? 01:38 Is it Barbarians at the Gate 03:45 The Complex World of Private Equity Returns 04:54 Education in Private Equity: Bridging the Gap 07:02 The Misleading Metrics of Private Equity Performance 12:49 The Challenge of Teaching Private Equity Authentically 16:11 The Importance of Critical Thinking in Private Equity Education 20:13 Advocating for a Balanced Perspective in Private Equity 22:03 Unpacking the Realities of Private Equity 22:51 The Misconceptions and Myths of Private Equity Performance 23:49 The Academic Challenge in Private Equity Education 24:38 The Impact of Practitioners in Academia on Private Equity Understanding 25:16 The Need for a Shift in Private Equity Education 26:58 Personal Anecdotes Highlighting the Importance of Education in Private Equity 30:24 Misleading Financial Representations and the Need for Regulation 34:38 The Complex World of Private Equity Fees Explained 39:54 Concluding Thoughts on the Future of Private Equity Education
We uncover the massive impact Jack Bogle, the titan of the investing industry, had in reshaping the investing landscapes for the better, with Eric Balchunas author of the book 'The Bogle Effect.' From revolutionizing low-cost index investing, the birth of the RIA movement, to setting the stage for the future of asset management – learn how Bogle has truly changed the game and continues to influence trends today. Watch it on YouTube: https://pod.link/1511595070 REFERENCES ▶️The book: The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillionshttps://www.amazon.com/Bogle-Effect-Vanguard-Investors-Trillions/dp/1637740719 ▶️ Follow Eric on Twitter: https://twitter.com/EricBalchunas ABOUT THE AUTHOR ERIC BALCHUNAS is a senior ETF analyst at Bloomberg, where he has over a decade of experience working with ETF data, designing new functions and writing ETF research for the Bloomberg terminal. He also writes articles, feature stories and blog posts on ETFs for Bloomberg.com and appears each week on Bloomberg TV and Radio to discuss ETFs. You can find his articles here: http://www.bloomberg.com/authors/ADUgYkp2OlE/eric-balchunas TO GO FURTHER 🧑🏽‍🎓 Alternative Investments Course: https://bit.ly/Alts_Invest 📩 Join the newsletter: https://bit.ly/3AxnyTY AFFILIATE LINK What I use for editing: https://get.descript.com/1ldhm44pyr0p TIMESTAMPS 0:00 Eric Balchunas 00:38 Who is Jack Bogle? 01:12 The Bogle Effect and its Impact on the Industry 01:28 The Spread of Passive Investment in Europe 02:50 The Story Behind the Book 'The Bogle Effect' 04:27 The Trillions Saved by Bogle's Approach 06:30 The Impact of Vanguard and Bogle on Other Funds 07:25 Bogle's Vision and Legacy 11:04 The Contrast Between Bogle and Wall Street 14:47 The Rise of Index Funds and the Role of Vanguard 15:44 The Long Road to Low-Cost Index Funds 20:10 The Long Road of Investment 20:54 The Impact of Bogle's Persistence 21:20 The Evolution of Investment Culture 21:43 The Challenges of Changing the System 22:48 The Birth of the RIA Movement 24:12 The Shift in Advisor Payment Models 26:03 The Influence of Behavior and Philosophy 26:25 The Power of Staying the Course 26:55 The Concept of 'Enough' and its Impact 32:08 The Vanguard Brand and its Impact 37:53 The Future of Asset Management 40:35 The Legacy of Bogle
A conversation with Gregory Zuckerman, an award-winning writer for The Wall Street Journal and author of "The Man Who Solved Wall Street". We dive deep into the world of quant investing, exploring the journey of renowned mathematician, investor, and Founder of Renaissance Technologies, Jim Simons, together with his extraordinary team.  Watch it on YouTube https://youtu.be/_5JkBUeLOLQ REFERENCES ▶️The book: https://www.waterstones.com/book/the-man-who-solved-the-market/gregory-zuckerman/9780241309735 ▶️Greg's website: https://www.gregoryzuckerman.com/ ▶️ Follow Greg on Twitter: https://twitter.com/gzuckerman? TO GO FURTHER 🧑🏽‍🎓 Alternative Investments Course: https://bit.ly/Alts_Invest 📩 Join the newsletter: https://bit.ly/3AxnyTY TIMESTAMPS 00:00 Introducing Greg Zuckerman 02:19 Jim Simons: The Man Behind the Quant Revolution 04:00 Jim Simons' Management Skills 05:19 The Uniqueness of Jim Simons' Investment Approach 06:35 The Importance of Limiting Fund Size 09:37 The Human Element in Quantitative Investing 14:56 The Role of Data in Quantitative Investing 19:09 The Current State of Quantitative Investing 19:23 A Definition of Quants from Billions 22:26 Is AI the Future of Quantitative Investing or just a Variation 29:41 Beyond Investing The Importance of Systematizing Decision-Making 37:11 Conclusion: An Amazing Book for Everyone Interested in Quant, But Also Extraordinary Human Achievements
George Aliferis sits down with Trym Riksen, Head of Portfolio Management at Gabler, to debunk the myths surrounding private equity. They dive into the narrative that private equity offers high returns with low volatility and discuss the reality behind these claims. Trym provides insights into the limitations of private equity data, and the challenges of comparing it to listed assets They also explore the influence of marketing and the democratization of private equity. An eye-opening discussion that separates fact from fiction in the world of private equity. Watch it on YouTube: https://youtu.be/a0Ag6D0erP0 LINKS ▶️Trym on Linkedin: https://www.linkedin.com/in/trym-riksen-6580952/ ▶️The CEM Benchmarks: https://www.cembenchmarking.com/ ▶️Ludovic Phalippou's book: https://www.amazon.co.uk/Private-Equity-Laid-Ludovic-Phalippou/dp/B08T7D4ZQ2 ▶️Meb Faber study on CalPers: https://mebfaber.com/2023/11/08/should-calpers-fire-everyone-and-just-buy-some-etfs/ ▶️Gabler: https://gabler.no/ ▶️Spreadsheet with an example of IRR:https://docs.google.com/spreadsheets/d/1qS-CeTR4V5LdC4ti51IOFIBU1sc-adeG2Zf-i_X4RRU/edit?usp=sharing TIMESTAMPS 00:00 Private Equity Marketing with Trym Riksen 00:55 Discussion on Blackstone's Holiday Video 01:49 The Founding Myth: The Yale Endowment returns 03:15 The misleading nature of Private Equity return figures 06:23 The reality of Private Equity volatility 14:00 The truth about Private Equity diversification 17:11 Private Equity's power of influence 24:48 The role of advisors in Private Equity 29:21 Thoughts on the democratization of Private Equity 31:36 Conclusion and final thoughts IMPORTANT NOTE: There are risks associated with investing in securities. Investing in stocks, bonds, exchange-traded funds, mutual funds, and money market funds involve risk of loss. Loss of principal is possible. Some high-risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including greater volatility and political, economic and currency risks and differences in accounting methods. A security’s or a firm’s past investment performance is not a guarantee or predictor of future investment performance.
Ever wondered what it would be like to own a fraction of a masterpiece artwork? I've delved into the world of art investment and explored the intriguing proposition offered by Masterworks. They claim to outperform the market and have an impressive track record. Find out if it's too good to be true. 📽 Watch it on YouTube: http://bit.ly/2FQSunJ 📩 Explore Alternative Investing. Join the newsletter: https://bit.ly/3AxnyTY 🧑🏽‍🎓 Check free and paid courses on Hedge Funds, Alternative Assets & Defi https://bit.ly/investorama_courses CHAPTERS 00:00 Introduction to Art Ownership and Masterworks 01:59 Masterworks' Strategy and Approach 04:38 Comparing Masterworks to Other Asset Classes 06:05 Understanding Masterworks' Performance 07:25 Dispersion and Portfolio Considerations 08:43 Long-term Considerations and Risks 10:38 Masterworks' Marketing and Influence 11:00 Thoughts on the Democratization of Alternative Assets
Limitless: Beyond the mind-blowing investment results from Eddie Morra (Bradley Cooper) when he's on NZT, could he manage a fund that we’d invest in? CONNECT 📽 Subscribe on YouTube: http://bit.ly/2FQSunJ (and turn the notifications on) 📩 Explore the future of investing. Join the newsletter: https://bit.ly/3AxnyTY 🧑🏽‍🎓 Check the courses on Hedge Funds, Alternative Assets & Defi https://bit.ly/investorama_courses KEY FINANCIAL CONCEPTS 1. Quantitative Trading: This refers to using algorithms and quantitative analysis to make trading decisions based on market signals. 2. High-Frequency Trading: It is a form of quantitative trading that involves executing trades at very high speeds, taking advantage of small price discrepancies in the market. 3. Fundamental Research: This involves conducting an in-depth analysis of a company's financials, industry trends, and other factors to determine its value and potential for investment. 4. Behavioral Finance: This field studies how investor psychology and emotions impact financial decisions and market behaviour. PUBLIC FIGURES 1. Jim Simons: A mathematician who founded Renaissance Technologies, a hedge fund known for its use of quantitative trading strategies. 2. Robert Shiller: A Nobel Prize-winning economist known for his work on behavioural finance and the impact of narratives on market behaviour. 3. ARK Fund Management: Tech-focused fund management company headed by Cathie Wood ABOUT THE MOVIE Limitless is a 2011 American science-fiction thriller film directed by Neil Burger, written by Leslie Dixon and featuring Bradley Cooper. Eddie, an aspiring writer, tries a new drug that allows him to make the most of his cognitive abilities. TIMESTAMPS 00:00 Introduction to Limitless and Eddie Morra 00:20 Eddie's Transformation and Newfound Abilities 00:42 Eddie's Investment Strategy 03:24 The Power of Eddie's Brain and Its Implications 04:03 Questioning Eddie's Strategy and Motives 04:59 Investing in Eddie Morra: A Risky Proposition? 05:34 Real-Life Equivalent of Eddie's Strategy: ARK Fund Management 06:12 Investing in the Fund Management Company, Not the Fund 06:17 Conclusion and Invitation for Discussion
An assessment of the character Gordon Gekko from the movie Wall Street, comparing him to real-world financial figures like Steve Cohen as an investment opportunity while discussing the nuances of insider trading and how the landscape of Wall Street has evolved since the 1980s. 📽 Subscribe on YouTube: http://bit.ly/2FQSunJ (and turn the notifications on) 📩 Explore the future of investing. Join the newsletter : https://bit.ly/3AxnyTY 🧑🏽‍🎓 Check the courses on Hedge Funds, Alternative Assets & Defi https://bit.ly/investorama_courses All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please send me an email, george@orama.tv, and we can sort it out. ABOUT WALL STREET To impress his idol, Gordon Gekko, Bud Fox, a junior stockbroker, engages in insider trading and quickly rises the ladder at Wall Street. However, he soon finds his life falling apart. Directed by Oliver Stone, starring Michael Douglas and Charlie Sheen TIMESTAMP 00:00 Introduction to Wall Street (1987) and Gordon Gekko 00:51 The Villainous Nature of Gordon Gekko 01:05 Investability of Gordon Gekko 02:31 Gekko's Legal Troubles and Insider Trading 04:24 Gekko's Skills and Realism of the Character 05:42 The 2023 Version of Gordon Gekko 05:57 Steve Cohen: A Real-Life Gordon Gekko? 07:25 The Evolution of Steve Cohen and its Implications for Gekko 08:42 Conclusion: The Potential for a Reformed Gekko
This conversation with Hirander Misra, the CEO of GMEX Group was recorded in August 2022, before the collapse of FTX. We discuss the collapse of Cefi lenders like Celsius, Voyager, Babel, Vauld but the warnings, general principles and solutions that Hirander offers are still relevant today and could be applied to the FTX situation. Rather than giving up on crypto, Hirander suggests we move towards a new model of hybrid finance that combines the new technology with the established financial system.   ABOUT THE GUEST  Hirander Misra is CEO and co-founder of GMEX Group, a London-based company that offers consultancy, technology and operations expertise to exchanges and other markets. GMEX addresses end-to-end regulatory and contract environment needs for Issuance, Trading, Clearing and Settlement across exchanges and across all asset classes, including Traditional, Digital and Hybrid Assets.  https://www.gmex-group.com/  ABOUT THE REALIZATION GROUP  This video is produced in partnership with Financial Markets Insights by The Realization Group-  bringing together the best minds in the financial and capital markets industry to deliver high-quality thought-leadership content.  https://www.therealizationgroup.com/insights/financial-markets-insights/  TIMESTAMPS  00:00 Intro 00:26 Overview - not what it pretends to be 02:21 Looking back at bitcoin... and mount Gox 03:55 Operational failure vs Robust tech 05:10 Defi  07:09 The problem with the definitions 09:10 The plumbing challenges in the back 10:57 A lack of a common standard 12:49 The message in the Bitcoin origin block - and the repeat of 2008 15:19 Looking for yield 17:33 the backlash against banking - and the unbanked opportunity with crypto 19:30 Lower barrier to entry and risk practices 21:35 The fragmentation of regulation 23:01 Authorization vs Regulation 24:04 The importance of small print 27:51 Cognitive bias 28:51 Funding 30:21 Overinflated valuations 31:17 With valuation comes pressure 33:54 regulation and innovation 35:37 Testing the trustlessness of bitcoin 36:50 Institutions' role in defi 38:00 Tokenization 38:50 Custody 39:09 Two prices - two systems fro Bitcoin? 40:11 how do you regulate 41:20 Whitelist 41:45 Industry standards 43:12 how do you classify investors 45:03 Different risk appetites 47:04 Clear and transparent 48:12  industry initiative vs regulation 49:57 Education 51:06 Exchanges 53:46 The need for a seamless financial experience 55:19 coexistence of crypto and tradfi - Hybrid Finance
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