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Jack Farley interviews the very best financial minds about macro, markets, and monetary matters. Follow Jack on Twitter @JackFarley96.
Allocators Want What They Want | Andrew Beer on Pod Shops, “Volatility Laundering,” and Building Liquid Alts That Don’t Suck
Monetary Matters with Jack Farley
57 minutes
2 weeks ago
Allocators Want What They Want | Andrew Beer on Pod Shops, “Volatility Laundering,” and Building Liquid Alts That Don’t Suck
This episode is brought to you by CAIA.nxt. Learn more about their alternatives education courses for investment advisors and get 10% off with code MMTEN: https://caia.org/content/welcome-monetary-matters-and-other-peoples-money-listeners
Why do institutional investors continue to flock to hedge funds when the average fund underperforms the S&P 500? In this deep-dive interview, Andrew Beer, founder and managing member of DBI, joins Jack Farley to pull back the curtain on the "broad insanity" of the institutional investment world and the evolution of the multi-strategy "pod" model.
Andrew argues that much of institutional decision-making is driven by "non-economic considerations" and the "principal-agent issue," where allocators are more concerned with career risk and avoiding difficult conversations with investment committees than they are with maximizing returns. We explore why "smooth" returns in private equity and private credit are often used to mask underlying volatility and correlation issues.
Follow Andrew Beer on LinkedIn https://www.linkedin.com/in/andrewdbeer/
Follow Jack Farley on Twitter https://x.com/JackFarley96
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Monetary Matters with Jack Farley
Jack Farley interviews the very best financial minds about macro, markets, and monetary matters. Follow Jack on Twitter @JackFarley96.
