Public Equities

“I still believe there's alpha out there, but we're a 70% tax managed passive, and if you can generate a hundred to 200 basis points of tax alpha, and there are now extension strategies that build upon that, if you're thoughtful about it and don't put too much …”

“Cotu as a whole is probably, it's around sixty billion of assets under management. On the public equities, so we basically have public equities, which is around twenty-five billion, and then you've got a private's business, and then a credit business too.”

“He documented that almost every one of these great compounders had massive drawdowns at some point. And it was common to have drawdowns of 75% or more, but some were 80, 85% drawdowns.”

“So the window in the private markets, which are the next generation of either public equities that you'd like to own or could be competitive threats to the public equities that you already own, that capability has helped widen our aperture and helped Increase …”

“It's not uncommon now to see 40, 50% downward or upward stock moves in companies based on events that you historically didn't think would drive that type of short-term volatility.”

“In the public markets, primarily internally managed, but in our equity book, for example, we've recently taken an approach of being clearer about the strategies that we have in place for our clients that are separating out alpha and beta more clearly. So we ha…”

“Typically those would get hedged or fixed income like where the volatility of the return stream is low. The currency volatility can swamp that. And usually that's playing an asset liability function in the portfolio. So typically that kind of investment stream…”

“Roughly speaking, 40% of our fund is in public equities. Of that, roughly, 32% is in traditional public equities, and about eight percent is in In long short, what we label defensive equity.”

“PE and VC ultimately is still equity. It's investments in companies. They're going to be determined by the same economic drivers as public equities.”

“So having the right expectation of what role it's playing in the portfolio, I think is really crucial, as opposed to the said equities, it should outperform equities. And so at that point, you know, after a decade plus of underperformance relative to long earl…”

“If you want to generate income, you should invest typically in public equities, which is like seven and a half, eight percent a year. You should not invest in a home unless it is cash flowing.”

“If you think we're roughly a third public equities, which bounces around, we're probably a little bit overweighted in privates. That's probably 45% of the portfolio today, just because privates, particularly venture and growth equities had such a big run. And …”

“53% of our strategic asset allocation is public equities, listed equities. It's a combination of domestic equities and international equities developed markets and international equities emerging markets. 53% in total. The other 47% is unlisted infrastructure,…”

“So we only have four asset classes. Three of them are 30%, and one's 10. So fixed income is 10, even though we're actually sitting lower than that. And then we have public equities, we have private investments, and we have, we call it multi-strategy.”

“The equity exposure overall is about 30% of the fund, and that's roughly about half developed market equities and a quarter h of emerging market in Australian Equities.”

“So our beloved alma mater, Yale University, has next to no money in public equities or bonds.”

“If you're building an expertise in a domain, in my case, it's SAS and sort of generally enterprise software, you probably know more about it than the vast majority of people. So while you shouldn't randomly be day trading, you probably have good instincts if y…”

“All else being equal in public equities, we want to be about fifty-fifty passive and active on the long side.”

“So if you looked at your average high net worth portfolio, you know, 65% equities is probably about right. We're 65% higher risk strategies, but call it only roughly half of that in public equities.”