Roz Hewsenian, CIO of Helmsley Charitable Trust, discusses career philosophy and navigating male-dominated industries alongside Arboretum Ventures founder Jan Garfinkel.
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“If you look at everything through the lens of some immutable characteristic, then you'll victimize yourself faster than anybody else will.”
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More from Roz Hewsenian
PredictionNot checkable as stated
Hewsenian predicted in 2018 Gavin Newsom's policies would trigger Silicon Valley exodus
“The other thing that has us very excited is that we think that Silicon Valley is only going to last for so long. If for no other reason, California is becoming very business unfriendly. If Gavin Newsom wins the gubernatorial race, And he does to California wha…”
Roz HewsenianAug 6, 2018▶ 1:09:30Roz Hewsenian –Helmsley Trust's Chief of People and Process (Capital Allocators, EP.63)
AssertionNot checkable as stated
CalPERS eliminated its hedge fund program after top funds refused fee cuts
“The best hedge funds wanted nothing to do with CalPERS because CalPERS wasn't willing to pay their fees, and Ted Eliopoulos, the chief investment officer, eliminated the hedge fund program”
Roz HewsenianAug 6, 2018▶ 24:46Roz Hewsenian –Helmsley Trust's Chief of People and Process (Capital Allocators, EP.63)
Insight
Hedge funds work for $3B foundations but fail for $300B public pensions
“If you're a three billion dollar foundation, hedge funds can work for you. When you're a three hundred billion dollar governmental pension funds, not so much. Context is everything.”
Roz HewsenianAug 6, 2018▶ 25:11Roz Hewsenian –Helmsley Trust's Chief of People and Process (Capital Allocators, EP.63)
Insight
Fixed allocation targets force institutional allocators into lower-tier investment managers
“If I had a specific bucket with a target, I'd have to fill it, which means that not only am I investing in the best, if I can get into the best, I might have to invest in the second best and maybe even the third best to get my allocation filled.”
Roz HewsenianAug 6, 2018▶ 43:48Roz Hewsenian –Helmsley Trust's Chief of People and Process (Capital Allocators, EP.63)
Insight
Brilliant fund managers have significant shortcomings and require sane partners as ballast
“And this is an interesting thing about truly brilliant people. They typically have a flat side. So when I'm assessing money managers, and I've met a lot of them with huge egos and flat sides, I look for A partner. Do they recognize their own shortcoming, and d…”
Roz HewsenianAug 6, 2018▶ 56:34Roz Hewsenian –Helmsley Trust's Chief of People and Process (Capital Allocators, EP.63)
Insight
Consultants should never say no outright to institutional clients
“You never say no, and then figure out how to give them at least some of what they want, so that this way you show them that you've heard them, and that's 90% of what the issue is. The client wants to be heard.”
Roz HewsenianAug 6, 2018▶ 19:57Roz Hewsenian –Helmsley Trust's Chief of People and Process (Capital Allocators, EP.63)
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