Assertion Not checkable as stated
Walthour: NJ Director said State Investment Council opposed minority-owned firms
“And McDonough says to me, Jake, the SIC is not a fan of investing in minority owned firms.”
Opinion
Walthour: Larry Fink's diversity pledge was PR to deflect Blueprint's lawsuit
“Larry Fink comes out with an announcement on June, 22nd, that he's going to increase his black staff by 30% over four years. I'd like to think that we had positive influence there, but I think that it really was not a heartfelt announcement. It was really desi…”
Assertion Not checkable as stated
Walthour: NJ claimed investing in diverse managers breached its fiduciary duty
“They originally told us, quote unquote, it was against their fiduciary responsibility to invest with women and minority-owned firms. Their website now says women and minority-owned firms, we're open for consideration.”
Insight
Walthour: Wall Street meritocracy metrics mask unequal opportunity and capital allocation
“Wall Street's a meritocracy. And I always say the numbers don't lie. And at the end of the year, you can add everything up. Well, if an African-American marketing professional or asset manager or portfolio manager had much less in the way of an opportunity set…”
Insight
Walthour: Matching client coverage by race perpetuates inequality on Wall Street
“And so the game that's played on Wall Street that isn't so subtle is that if there is a client And the firm wants to do business with that client. They think that they need to select a woman if that client is a woman. Or they think they need to select an Afric…”
Assertion Not checkable as stated
Walthour: Wall Street banks historically steered Black professionals toward municipal finance
“One of the areas that African Americans always got pushed into was municipal finance. Why? Because they felt like government institutions would be a better place for them to go knocking and calling versus calling on corporate America.”
Opinion
Walthour: The Smartest People in Finance Worked for Endowments and Foundations
“Let's face it, you know, over the course of my career anyway, the smartest people worked for endowments and foundations.”
Opinion
Walthour: Ken Griffin Holds the Title of World's Best Moneymaker
“When I went to work for Citadel, it was an opportunity to go work for a guy who I think
Holds the title world's best moneymaker, Ken Griffin, and a chance to understand how he put that organization together, how he managed to just print money for a longer per…”
Insight
Walthour: Asset managers succeed by reverse engineering products from allocator fears
“Because I think sometimes, in my career at least, I have found that the street produces a product. And then it goes out there and it tries to jam that product through decision makers. And what it taught me was that reverse engineer the process. Go and spend ti…”
Assertion Contradicted
Walthour: In 2015, most large institutions were still paying full alternative fees
“We went around and analyzed investor portfolios, and believe it or not, Ted, despite some of the world's largest institutions being invested in hedge funds and other types of alternative products, they were paying full fees. The overwhelming majority of the in…”
Assertion Not checkable as stated
Walthour: Lehman Brothers 1990 Analyst Class Was Exclusively White Outside Diversity Programs
“Outside of those of us that came through some type of diversity program, everyone else was white.”
Assertion Not checkable as stated
Walthour: SEO trained 60% to 70% of Black Wall Street talent
“Sponsors for educational opportunity, and great organization, probably responsible for 60 to 70% of the African American population on Wall Street at one point.”
