The Kresge Foundation
also referred to as: kresge foundation
16 statements across 1 episodes · 3 bullish · 6 bearish · 1 people on the record · first statement Jan 28, 2019 by Donna Snider · said 10 times in 3 episodes since 2019 · across every show →
Mentions by year
brought up most by Donna Snider (5), Ted Seides (4), Manny Friedman (1)
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2021 2 mentions in 1 episode
Everything said about The Kresge Foundation, oldest first
Jan 28, 2019 neutral
Jan 28, 2019 negative
Jan 28, 2019 negative
Snider: Fund managers must drop buzzwords and explain return mechanics plainly
“When you're sitting across from a manager and they're trying to explain their very fancy strategy, using all these buzzwords. That mean nothing. It's like, no, let's talk about this. I'm going to give you a dollar. You're going to turn it into more than a doll…”
Jan 28, 2019 neutral
Snider: Institutional Investor's Rising CIO List Implied Everyone Was Talking to Recruiters
“That list was admission that pretty much everybody on that list was talking to a recruiter, because I believe that list was mostly put together by the recruiters, and so the recruiter probably didn't nominate you if they hadn't had at least one conversation wi…”
Jan 28, 2019
Kresge Foundation sets minimum 1% portfolio sizing for manager commitments
“And we always kind of start with one percent. It's got to be a one percent position. For private funds, sometimes that's one percent over a couple funds, but for public funds where you can get out quickly if things aren't going well, You kind of got to start a…”
Jan 28, 2019 bearish
Jan 28, 2019 positive
Snider: Investment teams should make the newest, most uninformed person speak first
“We always start with the newest person in the room and make them give an opinion. It's the most uninformed opinion in the room, But getting them to speak and speak before they hear anybody with more experience is really important.”
Jan 28, 2019 neutral
Snider: Becoming a CIO Shifts Work Away from Sourcing and Diligence
“When I move to being a CIO, or if I have the opportunity to move to being a CIO, that's not going to be my primary job. Managing boards. Managing politics in an organization. Managing a team. Managing Team development. Staff development. Making the hard decisi…”
Jan 28, 2019 bearish
Jan 28, 2019 neutral
Jan 28, 2019 positive
Kresge harvests the volatility risk premium internally rather than paying hedge funds
“Volatility trading, right? The implied versus realized risk premium. Tons and tons of Ph.D. Dissertations have been written on this, and so we have a give all trade on in the book, and we're not going to hire a manager to do that. We're going to put that on, s…”
Jan 28, 2019 positive
Snider: Kresge's highest-fee hedge fund actually delivered its highest net returns
“We did an analysis two years ago, I want to say. Where our hedge fund analyst was tasked with pull all the financial documents of every one of our hedge funds and figure out what fees we paid. And we're going to go after the people that we paid the highest fee…”
Jan 28, 2019 bearish
Jan 28, 2019
Snider: Junior investment talent development follows a steep S-curve after year one
“We have found that the first year young talent is with us, you're feeding them and bringing them along. And then it goes through, like, really this S-curve. Like, it's amazing. Over the short window of time, they go from one level to another level. And then yo…”
Jan 28, 2019 negative
Snider: Kresge Had a Heavy Small-Cap Value Bias and Missed Large-Cap Growth
“We will all admit that in our portfolio we have a huge bias towards small cap value. And that has not been in favor for 10 years. So there is a piece of that that is on us that we missed. We didn't put large cap growth in the portfolio. We didn't.”
Jan 28, 2019