Evoke-ARIS

“If you're too big, you can't access the best managers. If you're too small, You're not on their radar.”

“What we found is that the average portfolio return is about a percent higher than the average returns of the components. And that comes from a rebalancing benefit that you're consistently buying assets that have fallen in the process of rebalancing and selling…”

“And now all the capital's leaving, it's probably a good time to come back into the space.”

“It's a very small percentage. That's all risk parity. Those tend to be the most sophisticated clients. And those are really the only ones we would feel comfortable going that far because they're just asking for it and they want it and they understand it. So we…”

“I think skill or success in investing isn't something you can measure over short timeframes. People love to attribute success to skill. Most of your success, sorry to break it to the listeners, is probably a function of luck. And some skill, but there's a lot …”

“And when we sit in front of a manager who says, we don't really see a downside, we start running the other way because that is not a recipe for long-term success.”

“We tend to hold most of our exposure at the 30 year point.”

“I'd say we are more attracted to the managers that don't market at all, that just do what they do at the highest possible level, and that we get referred to by, as I said, clients or friends or other investors that we respect.”

“So we specifically look for managers that are their own largest investors, that close their strategies, that are not distracted by other businesses, that are terrified of losing money”

“A simple measure is how many research people do you have? And how many marketing people do you have? It tells you what business you're in. If you got a hundred marketing people and four on research versus four and a hundred the other way, it tells you what bus…”

“So as a firm, we manage about nineteen billion in assets. Damien and I handle about 70 clients or so. That makes up about thirteen billion of those assets.”

“For instance, right now I'm looking at affordable housing bonds, which is a very unfollowed space, but actually has the potential to generate very attractive tax exempt yields, or earlier this year we did healthcare royalties.”

“Access too is very helpful if we have some clients who are in the venture space and those funds would be otherwise inaccessible to us, but we can leverage that relationship to gain access.”