Schumann: Formal conference room meetings weaken fund manager due diligence
Ellen Schumann · Training Grounds – Carnegie Corporation of New York (EP.377) · Apr 1, 2024 · at 25:56
Former Carnegie Corporation CIO Ellen Schumann discusses effective manager diligence practices with Ted Seides.
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“I think one of the downsides today interviewing and vetting managers is that you come to the manager's office, you're walked into a conference room, sitting by yourself, they come into that conference room, they control the environment totally, and Back then it was a lot more fluid, and we tried to spend time with people on the road, in their office, going to visit properties, having dinner with them, so you can see how they behave after they've had a couple of cocktails, or how they treat the waitstaff, or just all those nuanced things.”
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