It's Not About the Money (Capital Allocators, EP.45)
Capital Allocators – Inside the Institutional Investment Industry
Ted Seides – Allocator and Asset Management Expert
4.8 • 806 Ratings
🗓️ 26 March 2018
⏱️ 61 minutes
🧾️ Download transcript
Summary
Last fall, I sat down with a fellow former hedge fund of funds professional Khe Hy, who left the business a few years ago and has developed a fascinating media platform around introspection, self-awareness, and self-development. Certainly a set of characteristics we don’t normally associate with folks in the asset management business.
Khe interviewed me about my career path and some lessons I’ve learned about people, business, and life. With his permission, I am sharing the conversation to allow you to learn more about the perspective that I bring to the conversations on Capital Allocators.
If you like the subject matter, I’d encourage you to check out Khe’s podcast, entitled Rad Awakenings, available on iTunes or his website, radreads.co.
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For more episodes go to CapitalAllocatorsPodcast.com/Podcast
Show Notes
1:53 – Ted’s time with Dave Swensen
2:40 – How did Ted get the job not knowing about stocks
3:56 – The start of Ted’s time at Protégé
5:27 – How did Ted view the world as someone picking managers vs someone picking stocks
9:01 – Early days at Protégé
10:36 – Attributes that Ted tried to unpack about individuals
13:18 – Understanding a team’s intrinsic vs extrinsic motivations
15:03 – How much of investing is about true skill vs being on the right side of a market trend
17:06 – What did Ted learn about greed during the bull market run of the early 2000’s
20:00 – The ego, envy and entitlement of financial professionals
22:36 – The potential to hit a high-water mark and never feeling satisfied
28:20 – Loving what you do despite the financial windfall
32:50 – Would Ted have the same passion for the markets if he hit the proverbial lottery
34:36 – The feeling of financial survival and what would happen if Ted didn’t have it
37:24 – Citizen Schools
38:41 – How to stop caring about other people’s perception of you
40:46 – Most underrated attribute of Ted that he has discovered in his reinvention
41:53 – Times Ted’s resilience was tested
43:08 – Ted on Invest Like the Best Podcast
43:10 – Hero's Journey Foundation
45:02 – What does higher education and first jobs look like for the next generation given the digital changes in society
49:20 – Do millennials have less upward mobility then past generations
49:43 – The Premium Mediocre Life of Maya Millennial
52:09 – Follow and learn more about Ted at capitalallocatorspodcast.com
57:41 – Closing questions with special guest interviewers
Transcript
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| 0:00.0 | Capital Allocators is brought to you by Ten East, an investment platform for sophisticated investors to access private markets. |
| 0:10.5 | Ten East brings benefits of having your own family office without the cost and headaches of doing so. |
| 0:16.8 | It's founded and led by Michael LaFelle, former deputy executive managing member of Davidson Kempner. |
| 0:24.2 | Michael and his investment team offer members the opportunity to co-invest by offering at their |
| 0:29.1 | discretion. Michael and his team source, diligence, and commit material personal capital to each |
| 0:35.3 | investment. The opportunities shared on the Ten East platform |
| 0:38.9 | offer exposure to private credit, real estate, niche venture and private equity, and other |
| 0:44.5 | idiosyncratic investments that typically aren't available through traditional channels. |
| 0:49.2 | The principles have over a decade track record of investing in these types of exposures |
| 0:53.5 | across more than 350 |
| 0:55.7 | transactions. Post-investment, the Tennis team conducts ongoing monitoring and reporting, |
| 1:01.8 | just as you'd expect from an institutional investment organization. I've known Michael for about a |
| 1:07.0 | decade, and after becoming impressed by the quality of 10 East offerings, its research |
| 1:11.6 | process, and high-quality investment team, I became an advisor to the organization, an investor |
| 1:17.1 | in multiple offerings. You can learn more and join me as a member at 10-east.com. That's the number 10, |
| 1:25.4 | east.co.O. |
| 1:33.4 | Capital Allocators is also brought to you by SRS Aquium. |
| 1:37.2 | Want to make sure your M&A processes aren't stuck in the past? |
| 1:43.6 | How about partnering with a company that's been defining the future of dealmaking for nearly two decades instead? |
| 1:46.0 | When it comes to M&A innovation, |
| 1:52.7 | SRS Aquium has reshaped the way deals get done more than anyone else, streamlining processes for maximum efficiency and minimum headaches. Professional shareholder representation, online |
| 1:59.2 | M&A payments, digital stockholder solicitation, |
... |
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