The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
shows 
every show 44 of 44
India, not the US, will be the dominant market in the 2020s
“And I don't think the U S is going to be the dominant market in this decade. At this point, it's probably going to be India.”
AI will accelerate market efficiency, making alpha harder to generate
“Alpha is going to get harder and harder and harder. It already has gotten harder. AI is going to actually speed up that as well. And so as investors thinking about beta is going to become more and more important over time and having the best beta you possibly …”
Python has largely replaced Excel in institutional finance, says Auby
“Python has certainly taken over everything that we do on the finance side, even at Texas teachers. I mean, kids show up and it's not necessarily just Excel anymore. It's Python programming.”
Public pensions and endowments are among the only unlevered capital pools
“It's a pension fund is not levered. So it's one of the only pools of capital on the planet that doesn't actually have balance sheet leverage. So you're talking about a public pension funds, endowments, and sovereign wealth funds. These are the unlevered pools …”
Auby: Texas leads the nation in oil, gas, solar, wind, and batteries
“Texas is number one in pretty much every form of energy you can name. So number one in oil, number one in gas, number one in solar, number one in wind, number one in batteries. I just read the other day.”
Auby: Office buildings make up only 21% of commercial real estate
“Everyone still thinks of office buildings, but office buildings is last I saw just 21% of the commercial real estate market.”
Texas Teachers has graduated only 12 of 190 emerging managers
“Of those 180 managers that we funded, we've had 12 graduate to full-fledged allocations in the portfolio.”
Texas Teachers achieved near 100% '1-or-30' fee adoption in directional hedge funds
“In our directional hedge fund portfolio, we have near a hundred percent achievement of that one or 30 over an appropriate risk benchmark fee structure.”
Auby: Texas has the longest US teacher pension liability at 26 years
“Texas has the longest liability of any teacher fund in the United States, and that's because Texas is a high-growth state, so we're hiring a lot of teachers, so we have a lot of younger teachers, and so our liability is amongst the longest, 26 years.”
Texas Teachers lost 25% of its staff during the Great Resignation
“In 21 and 22 combined, those two years, we lost 25% of our staff, which was one in four folks walked down the door, the great resignation.”
Auby: Industrial makes up 34% of the ODCE real estate index
“In fact, and the most commonly used core index, the Odyssey industrial, which Amazon warehouses, that sort of thing is 34% of the index is the largest part of the index.”
Auby: TRS Is the Only US Public Pension with a Foreign Office
“So we are the only public US fund that has a foreign office, and we have our office in London.”