Luis Laboy
person on 1 show · 12 statements across 1 episodes
On the record as a speaker too: Luis Laboy across every show, appearances and statements → this page counts the times other people say the name.
12 statements about Luis Laboy, every show
Laboy: Top portfolio managers show coherence between strategy and emotional makeup
“This is what makes great PMs. Coherence. Their investment strategy aligns with how they think. Their emotional makeup. That's the most important thing we look for with a manager, is their alignment between their strategy and how they think.”
Laboy: Pitching "quality compounders" cedes narrative control to the LP
“The minute a manager comes in and tells you that they invest in quality compounders, the part that we all don't realize is they've ceded control of the conversation now to the listener. When you use a buzzword like that, the listener is going to fill the gap i…”
Laboy: The Hewlett Foundation made a major allocation to Japanese equities
“We have eventually bought big. We're invested in Japan.”
Laboy: Hewlett separates evaluating macro opportunity sets from specific manager selection
“When we're selecting a manager, we break apart opportunity set and manager selection. The steps are, we gain conviction on the opportunity set. Because we run as one team, one approach, Once we have an idea of the opportunity set, like at Everest, we're lookin…”
Laboy: Most Hewlett redemptions stem from internal strategy shifts, not talent
“What ends up happening more times than not is that You end up redeeming from a manager because we're shifting our perspective on what's changing in the market. We have to redeem from a manager that otherwise I think is extraordinarily talented, and I wish them…”
Laboy: Lacking upfront criteria introduces personal bias risk into manager selection
“If I don't have a set of clear criteria ahead of time, I'm going to end up picking the shiny object that resonates with me. Then you're going to be introducing a certain factor risk, which is your own biases into the portfolio.”
Laboy: Hewlett's next-gen sleeve lowers confidence hurdles but maintains quality standards
“One of the structures that I did is I broke the portfolio into two where I had this core portfolio, and then you carve out a piece of the portfolio for this next generation set of managers where the hurdle isn't lower. We're still trying to find the same quali…”
Laboy: Allocators should never second-guess managers during due diligence
“The goal is To ask managers questions that hopefully create new thoughts, but you never want to come across like you're second guessing a manager. That's not our job. Our job is to understand them and to understand whether our strategies are aligned.”
Laboy: Direct investors in LP roles must recalibrate their decision cadence
“There's a difference in cadence in decision making, even in the amount of research and analysis you do for every decision. You're calibrating that all the time. And I had perfected that for a high turnover world of direct investing. And when you move over to t…”
Laboy: Buy-side tenure helps LPs spot cultural shifts during diligence
“When Everest closed and the whole team moved to RWC, I got to see how the same group of people, their energy changed, how a culture changed, and there was a lot of learnings, because in the end, as allocators, we're sitting on the outside trying to understand …”
Laboy: PMs use fund marketing to stress-test ideas during LP meetings
“Marketing served two purposes. You had the defense and the offense. The defense was protecting myself against the down here. The offense was that I thought a lot about the portfolio and how I was investing it in those meetings.”