US equities

“How many endowments are, you know, less than. 20% in U S equities. There are very few that have that exposure. You know, we have more emerging markets at frontier than the portfolio than we do there.”

“If I go by dollar count, it's much, much higher because many of our large public funds are passive in U.S. Equities and often running it internally for cost management purposes.”

“We've been talking about over the last year, and US equities have continued to do pretty well, but I think we're really pounding the table now that that's a place where we want to rebalance.”

“You have pockets of assets that are richly valued. We think U.S. Equities, sovereign debt.”

“Because if Biden or Trump wins from a macro perspective, I think dollars going down, I think ten-year yields are going up. I think U.S. Equities are going to do well, but I think global equities are going to do better. Commodities are also going to do extremel…”

“I do recommend owning as few US equities as you can face.”

“If you took what it would take to pay off the corporate debt plus the corporate equity value in U.S. Equities, you're talking about 26 years if it was like a family business and you're trying to pay off your parents as you inherit this business, it would take …”

“More or less, the U.S. Return is about 10 and a half percent. Non-U.S. Developed market equities close to six percent. Emerging markets slightly above developed market equity at about six and a half percent. So that's a 400 basis point under performance during…”

“January first, 20, 24, expected equity returns are eight and a half percent nominal. You take out the inflation expectations. Your real equity returns are from the mid sixes, low to mid sixes. Not great, not compelling, but a heck of a lot better than Real thr…”

“Shows that U.S. Equities have indeed crushed global equities in the last, call it, 30 years. Don't hold me to the exact numbers, but call it 80, 85% of that victory has been multiples going up. U.S. Started out cheaper and is now considerably more expensive in…”

“When we say a huge part of the portfolio, 50% or more has to be generic US equity risk. We invest on the behalf of a U.S. Institution. Their expenses are dollar-based. We don't want to have too much overseas risk.”