Doug McCormick, HCI Equity Partners - I Generally Believe People Underestimate The Duration Of The Time That They Will Be Invested | #194

The Meb Faber Show - Better Investing

The Idea Farm

Management, Investing, Business

4.8 • 978 Ratings

🗓️ 25 December 2019

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In episode 194 Meb and Doug kick off the conversation about thinking about a family as a business. Doug discusses the idea that people effectively have two businesses, selling labor in the marketplace, and converting income into financial assets. Doug expands on that by covering the family CFO framework, and that the job of the family CFO is much like a corporate CFO in that they must manage risk and liquidity with the family’s balance sheet. The pair also get into entrepreneurship and thinking about the role entrepreneurship can play in wealth generation. Meb and Doug then get into common mistakes people make, such as underappreciation of a long horizon. They then transition into approaching conversations about wealth with Family, starting with acknowledgement that wealth without management, values, and education can be a liability. As the conversation winds down, Meb and Doug cover some ground about Doug’s day job as a private equity investor and some best practices for private equity allocators. All this and more in episode 194, including Doug’s most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the Mebb Faver Show, where the focus is on helping you grow and preserve your wealth.
0:11.0	Join us as we discuss the craft of investing and
0:13.5	uncover new and profitable ideas all to help you grow wealthier and wiser.
0:17.2	Better investing starts here.
0:18.8	Met Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.3	Did it industry regulations, he will not discuss any of Cambry's funds on this podcast.
0:27.2	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion of
0:31.2	Cambria Investment Management or its affiliates.
0:33.4	For more information, visit Cambria Investments.com.
0:35.6	What's up, podcast listeners, the decade is almost over, but we still have got time to have an
0:44.4	awesome show for you today does your family have a chief financial officer that's
0:48.7	today's topic our guest is managing partner and the co-founder of
0:51.4	HCI Equity Partners author of one of my favorite books of the last few years, Family Inc.
0:57.0	and before starting HCI Equity, he was a managing partner at Thayer Hidden Creek and Thayer Capital,
1:02.0	worked in the Investment Bank Division,
1:03.4	Morgan Stanley, and served as a captain in the US Army's 25th Infantry Division.
1:08.8	This episode is brought to you by 10 East.
1:11.2	Long time listeners know I've invested in private markets quite a bit myself, but with access
1:16.1	to these markets broadening it can be hard to know where to find vetted high quality offerings.
1:21.0	That's where 10 East comes in.
1:22.4	10 East is a platform where qualified
1:24.4	investors can co-invest on a deal by deal basis across private equity, private
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Idea Farm, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Idea Farm and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.