ALO12: How to Invest like a Private Bank ft. Shannon Saccocia
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 670 Ratings
🗓️ 30 November 2022
⏱️ 69 minutes
🧾️ Download transcript
Summary
Today, we are joined by Shannon Saccocia, CIO at SVB Private, for a conversation on how portfolio management and manager selection is carried out at a private bank. We discuss how the current unstable environment has caused a change in investor behaviour and how technology has impacted the economy, what the next phase of investments looks like and how the economic landscape has changed as well as how SVB Private has adapted their asset allocation to the current crisis and the implications of going back to a low growth environment. We also discuss why managed futures is now worth considering, what defines a good team of managers and how to deal with behavioural bias in manager selection, where the IRA industry is heading and how it affects clients, advice to aspiring CIOs and much more.
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Episode TimeStamps:
00:00 - Intro
03:15 - Introduction to Shannon and her work
10:37 - A change in behaviour?
19:12 - Moving beyond the three buckets
26:20 - A rough year
33:01 - Staying diversified
40:03 - Are Managed Futures becoming viable for Private Banks...again?
44:05 - Manager selection vs. asset allocation
50:26 - Dealing with behavioural bias
57:06 - Discussing the IRA industry
01:03:33 -...
Transcript
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| 0:00.0 | There's a tendency to want to be like other people who are in that position. |
| 0:12.0 | So for instance, if you're head of research is a certain way and their skills are X, Y, Z, |
| 0:18.0 | you believe that you have to have those same skills to be in that position. |
| 0:22.6 | And someone told me a long time ago, before I became the CIO, they said, the role is whatever |
| 0:27.9 | you make of it. |
| 0:29.6 | And so just widening your aperture to say, what type of director of research do I want |
| 0:34.6 | to be? |
| 0:35.6 | What type of analyst do I want to be? |
| 0:36.6 | What are my strengths and what can I want to be? What type of analyst do I want to be? What are my strengths |
| 0:37.9 | and what can I bring to the table for the company? Imagine spending an hour with the world's |
| 0:44.7 | greatest traders. Imagine learning from their experiences, their successes, and their failures. |
| 0:50.7 | Imagine no more. Welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund managers in the world, |
| 0:58.0 | so you can take your manager, due diligence, or investment career to the next level. |
| 1:03.0 | Before we begin today's conversation, remember to keep two things in mind. |
| 1:07.0 | All the discussion we'll have about investment performance is about the past, and past |
| 1:11.5 | performance does not guarantee or even infer anything about future performance. Also understand |
| 1:16.7 | that there's a significant risk of financial loss with all investment strategies, and you |
| 1:20.9 | need to request and understand the specific risks from the investment manager about their |
| 1:25.3 | product before you make investment decisions. |
| 1:28.1 | Here's your host, veteran hedge fund manager, Nealz Kostrup Larson. |
| 1:36.5 | For me, the best part of my podcasting journey has been the opportunity to speak to a huge |
| 1:41.8 | range of extraordinary investors from all around the world. |
... |
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