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 19 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
Monk: UC Investments' Jagdeep Bachher Is Attempting to Buy College Leagues
“Our friend Jag Deep is trying to buy college leagues.”
Monk: Sustainability and ESG factors correlate with faster portfolio recoveries
“So what we're learning, and the findings are still being developed on our team, is that it's these sustainability factors, these long-term factors, employee satisfaction, environmental footprint, things like that, that you would say, well, really good ESG tool…”
Monk: Financial services captures about 40% of US corporate profits
“We have an asset management industry and financial services industry that's capturing about
40% of all after tax corporate profit in America.”
Monk: Financial intermediation unit costs are higher than a century ago
“Even the research shows us that we may now have a 10 X fold increase in trading activity from the 19 sixties, but our financial services industry is less efficient today than it was a hundred years ago.
The unit cost of intermediation is higher today than it …”
Monk: Saudi Arabia's PIF has founded over 100 companies
“The PIF, trillion dollar-ish organization, Started over a hundred companies.”
Monk: Australian pension fund REST settled member lawsuit over climate negligence
“And oh, by the way, Ted, one of them rest retail employee super trust was sued by a member for not taking climate change seriously. And yes, the lawsuit was settled.”
Monk: CalPERS paid $4B in private equity carry over five years
“CalPERS is having it now.
They realize they, what was it, four billion dollars in private equity carry was paid to GPs alone over a five-year period.”
Monk: NZ Super Fund eliminated individual asset-class compensation links
“I can remember the New Zealand Superfund, which is one of the best total portfolio investors having to scrub out all of the individual portfolio links to their compensation. It was total fund, qualitative metrics for compensation.”
Monk: PGGM is launching 3D TPA across risk, return, and impact
“PGGM in the Netherlands, so they're about to launch their version of TPA, which is exciting because PGGM has what they call three D TPA, three dimensions, risk, return, and impact. Every deal gets analyzed in terms of those three dimensions.”
Monk: Asset owners manage $120T opaque to most finance professionals
“So that's a 120 trillion dollars in capital that kind of exists in this opaque world to the broader community of Researchers, but also people that just are operating in the financial services industry.”
Monk: Asset owner boards lack tech and data leaders
“I don't see a lot of technologists sitting on boards of directors of pension funds or sovereign funds or endowments. You see lots of ex-finance professionals. You see lots of representative people coming out of the constituencies, teachers, firemen, public emp…”
Monk: Most public pensions and endowments lack aligned definitions of success
“I've done this in a research project in the last four years, and I have to tell you, I was blown away that most of these organizations actually have different definitions of success.”
Monk: Measuring diversity prompted London Pension Protection Fund to alter strategy
“And then most recently, the neat one that I saw was PPF in London recently, Pension Protection Fund. They measured the diversity and inclusion in their organization and portfolio, and realized the moment they started measuring it that there was like fundamenta…”
Monk: UC Investments cut manager relationships from 340 to 120
“Like, at UC, when we got there three years ago, I think this is all public, but it's, we had about 340 fund relationships, and now Jeg Deep and the team has whittled that down to something like a 120.”
Monk: Dutch pension APG acquired a Deloitte data analytics team
“APG, they went out and actually bought like a data team from Deloitte, a pension fund doing M&A to get data inside their organization.”
Monk: Institutional allocators deploy $120 trillion into global investment funds
“With a 120 trillion dollars, their capital flows out into the hedge funds, the mutual funds, the private equity funds, the venture funds.”
Monk: Fee transparency drove portfolio changes at CalPERS, CalSTRS, and UC Regents
“We've seen tons of examples like CalPERS and CalSTRS and even UC Regents where fees and costs have driven changes in their portfolio, just the transparency.”
Monk: Eight Canadian pension plans launched joint climate analytics initiative
“There's like eight plans that came together, commissioned a working group, and they're collaborating on the development and all these new climate risk analytics that they're trying to bake right into their decision making. And that launched in the last 12 mont…”