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Andy Golden

Former President, PRINCO · 3 appearances on the record.

computed by AI from the episodes · how this works → · full disclaimer →

investorexecutive

Golden led the Princeton University Investment Company (PRINCO) as president from 1995 to 2024, overseeing the endowment's growth from roughly $3.5 billion to nearly $35 billion. He previously worked at the Yale Investments Office under David Swensen and at Duke Management Company.

49statements → 5claims → 1claims resolved → 3.86/5average certainty → 2.06/5average debate potential → ≈4.0/5argument clarity, estimated → 28said about them ↓

1 supported 0 partly supported 0 contradicted 4 not checkable as stated how the 5 claims stand · each chip opens the sources

1 prediction · 4 assertions · 5 opinions · 22 insights · 17 disclosures · every statement was checked. The prediction and assertions are the 5 claims: statements the public record can support or contradict. 1 is resolved, and 4 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Andy argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported
Golden: A single volunteer directed Princeton's portfolio for decades
“And for decades, there had basically been a single volunteer who made security level decisions.”
Andy Golden Jun 26, 2017 ▶ 12:40 Andrew Golden – Beyond the Long Term (Capital Allocators, EP.13)

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Andy Golden on measured tape to publish a rate. This says nothing about how they speak.

Everything Andy Golden said on Capital Allocators that made the record, most notable first. Filter by type, assessment or year in the ledger →

Insight
Golden: Consistent high returns make investor commentary sound smarter
“You know, so another advantage is if you put up good numbers for long enough, all of a sudden everything you say sounds a whole lot smarter than it used to.”
Andy Golden Jun 26, 2017 ▶ 26:25 Andrew Golden – Beyond the Long Term (Capital Allocators, EP.13)

The other half of the tape: Andy Golden's own voice is left out of every number here. Other people bring the name up 23 times in 9 episodes on Capital Allocators. 5 statements on the record name them. every mention, with the transcript →

Who brings them up most Ted Seides 8Jen Birmingham 8Tony Yoseloff 1Margaret Chen 1Kip McDaniel 1

Statements about Andy Golden, by other people (5)

Insight
Time Horizon Is the Only Durable Risk Premium Left in Investing
“He said that all of the risk premia have been arbitraged away, except for one. He said, horizon. People just need cash sooner. And by being a long-term liquidity provider, you know, if we can be, he, I think his phrase is BLT investor, if we can be a beyond th…”
Chris Douvos Jul 3, 2017 ▶ 17:55 Chris Douvos – Venture Capital's Super LP (Capital Allocators, EP.14)
Insight
PRINCO intentionally preserves inefficient large meetings to improve organizational learning
“It is ok to be inefficient sometimes if you are more effective in the learning process. So we have huge meetings. One might say that would be much more efficient if there was just five of us. We'd probably come to the same decision. Be done with it. However, y…”
Jen Birmingham Sep 4, 2023 ▶ 58:03 Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
Assertion Supported
Seides: David Swensen's Yale disciples consistently outperformed peer endowments
“There is something to the structure of what Yale did and the discipline that has been proven that David has been able to teach other people. It could Seth Alexander, who I worked with, and Paul Valente at Bowdoin, and Andy Golden at Princeton, and Peter Ammon …”
Ted Seides Dec 18, 2017 ▶ 58:41 Deep Dive into Hedge Funds (Capital Allocators, EP.34)
Insight
Ted Seides: Allocators Are Probably Better Off Balancing Growth and Value
“You're probably better off being balanced between the two. Because if you get too far ahead of your skis and you're wrong, if you're right in the long term but you don't survive to the long term, I think as Andy Golden said on one of the shows, finish first, y…”
Ted Seides Mar 22, 2021 ▶ 28:13 Ted with Patrick O'Shaughnessy – Lessons from the World's Elite Money Managers (Capital Allocators, EP.184)
Disclosure
PRINCO Mandates Every Team Member Vote on Investments Without Abstaining
“The culmination of all of that work comes to a bull bear decision meeting, and that is just the Prinko team, and we all vote. So we have this voting dynamic, two right pound the table, two left Negative, or one and one. You have to vote, though. You can't abst…”
Jen Birmingham Sep 4, 2023 ▶ 24:46 Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)

Every mention by year

tap a year for its mentions
008215420172018201920202021202220232024episodesmentions
02420172018201920202021202220232024episodes it came up in
00224420172018201920202021202220232024episodesmentions per episode
2024 4 mentions in 1 episode
2023 14 mentions in 4 episodes 4 per episode
2021 2 mentions in 1 episode
2018 2 mentions in 2 episodes 1 per episode
2017 1 mention in 1 episode

Appearances (3)

EpisodeDateSpeaking time
Allan Jean-Baptiste and Marco DeMeireles – Under-covered Venture Markets and Teams at Ansa Sep 1, 2022 5m
Andrew Golden – Navigating Princeton's Endowment Through (Another) Crisis (Capital Allocat Apr 23, 2020 23m
Andrew Golden – Beyond the Long Term (Capital Allocators, EP.13) Jun 26, 2017 56m
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