Donna Snider of the Kresge Foundation reflects on her transition from Wall Street derivatives trading to institutional manager diligence.
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“That was the biggest lesson for me is that one data point is just that one data point, and until you know what the universe looks like, you're not going to make a very good decision.”
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More from Donna Snider
Opinion
Snider: The credit market is extremely stretched and warrants no new dollars
“Look at credit, and you say credit is extremely stretched. Why would we be putting a new dollar into credit?”
Donna SniderJan 28, 2019▶ 24:33Donna Snider – Inside the Investment Process at the Kresge Foundation (Capital Allocators, EP.84)
Opinion
Snider: Most market-neutral long/short equity hedge funds fail to be market-neutral
“We have a belief that most market neutral long shorts are not market neutral, so they have been out of that portfolio.”
Donna SniderJan 28, 2019▶ 30:15Donna Snider – Inside the Investment Process at the Kresge Foundation (Capital Allocators, EP.84)
Insight
Snider: Becoming a CIO Shifts Work Away from Sourcing and Diligence
“When I move to being a CIO, or if I have the opportunity to move to being a CIO, that's not going to be my primary job. Managing boards. Managing politics in an organization. Managing a team. Managing Team development. Staff development. Making the hard decisi…”
Donna SniderJan 28, 2019▶ 41:45Donna Snider – Inside the Investment Process at the Kresge Foundation (Capital Allocators, EP.84)
AssertionNot checkable as stated
Snider: Kresge's highest-fee hedge fund actually delivered its highest net returns
“We did an analysis two years ago, I want to say. Where our hedge fund analyst was tasked with pull all the financial documents of every one of our hedge funds and figure out what fees we paid. And we're going to go after the people that we paid the highest fee…”
Donna SniderJan 28, 2019▶ 46:50Donna Snider – Inside the Investment Process at the Kresge Foundation (Capital Allocators, EP.84)
Opinion
Donna Snyder: Launching a value shop in the last five years was bad timing
“Launching a value shop in the last five years is bad timing.”
Donna SniderAug 19, 2021▶ 8:13Bruce Martin – Still Lake Capital [Manager Meetings, EP.7)
Insight
Donna Snyder: Back-office infrastructure is much easier to solve than the manager
“No institution is going to invest if they don't believe in the person and the process and the portfolio. So once we get that right, then we can say, okay, are we going to invest in all the back office that supports this? That's the much easier one to solve tha…”
Donna SniderAug 19, 2021▶ 9:29Bruce Martin – Still Lake Capital [Manager Meetings, EP.7)
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