The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 10 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Shahidi: Wealth management is dominated by salespeople, not investment professionals
“The big driver, you know, the thing that really pushes us the most is just this observation that most of the industry is populated by salespeople. It's a business where those who can bring in the clients are the kings of the world. And you can do that by being…”
Shahidi: Asset managers must stay in the sweet spot between too big and too small
“If you're too big, you can't access the best managers. If you're too small, You're not on their radar.”
Shahidi: A truly diversified portfolio must hold underperforming assets
“By definition, You should own things that are not doing well, because if they're all doing well at the same time, you're probably going to go through a period where they're all doing poorly at the same time.”
Shahidi: Climate change will directly impact corporate bottom lines
“Climate change could easily be one of those things and the risks associated with that. So I think we're starting to see asset allocators factor that in to their strategies. It's not just something to do because you feel good about it, but it's something that m…”
Shahidi: Minimizing portfolio risk mathematically requires reliably uncorrelated return streams
“And mathematically, the way to do that is to own a bunch of return streams that are different from one another, meaning they go up and down at different times. And the more reliable that differentiation, the better.”
Shahidi: Investable assets deliver four to five percent above cash long term
“And over time, assets give you four or five percent above cash or something in that ballpark over the long run.”
Shahidi: Only a small fraction of clients allocate 100% to risk parity
“It's a very small percentage. That's all risk parity. Those tend to be the most sophisticated clients. And those are really the only ones we would feel comfortable going that far because they're just asking for it and they want it and they understand it. So we…”
Shahidi: Research-to-marketing headcount ratio reveals an investment manager's true focus
“A simple measure is how many research people do you have? And how many marketing people do you have? It tells you what business you're in. If you got a hundred marketing people and four on research versus four and a hundred the other way, it tells you what bus…”