Patrick Geddes, Aperio – Lessons From A Customized Indexing Pioneer Who Sold His Firm To BlackRock | #400

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 21 March 2022

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guest today is Patrick Geddes, founder and former CEO of Aperio Group, a leader in the direct indexing space with $42b in AUM when it was acquired by BlackRock for over $1b. In today’s episode, we kick it off with hearing back Patrick’s days at Morningstar as the Director of Quantitative Research & CFO. Then Patrick shares what led him to start a firm focused on direct indexing and customization over 20 years ago. We talk about why the Great Financial Crisis was an inflection point for direct indexing and why there’s been so much M&A in the space over the last couple of years. Then we talk about his book, Transparent Investing. We talk about consumer advocacy, the importance of taxes & fees, and ways to counteract some of the behavioral biases we all have. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Today's episode is sponsored by The Active Share podcast. If you’re seeking the less obvious and are curious about the ever-changing world and how it affects investing, The Active Share podcast is for you. Hear thought-provoking conversations with thought leaders, company executives, and William Blair Investment Management’s own analysts and portfolio managers as they share unique perspectives on investing in a world that’s always evolving. Listen to The Active Share on Apple Podcasts, Google Podcasts, Stitcher, Spotify or TuneIn or visit here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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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. Better
0:17.4	investing starts here.
0:19.4	The Met Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.4	Didn't industry regulations, he will now discuss any of Cambra's funds on this podcast.
0:27.1	All opinions expressed by podcast participants are solely their own opinions and do not reflect the
0:30.8	opinion of Cambria Investment Management or its affiliates.
0:33.4	For more information, visit cambria Investments.com.
0:39.6	What's up friends?
0:40.6	We've got a great episode for you today.
0:42.2	Our guest is Patrick Gettys, founder and former CEO of the Perio Group, a leader in the direct indexing space with over 40 billion in assets under management when Black Rock acquired them in 2020.
0:53.6	And today's show, we rewind back to Patrick's days at Morningstar as the Director of
0:57.8	Quantitative Research and CFO.
1:00.1	Then Patrick shares what led him to start a firm focused on direct indexing and
1:03.3	customization over 20 years ago. We talk about why the great financial crisis was an
1:08.0	inflection point for direct indexing and why there's been so much M&A in the space over the last couple years.
1:13.4	Then we talk about his new book, transparent investing.
1:15.9	It's great, by the way.
1:17.1	We talk about consumer advocacy,
1:18.9	the importance of taxes and fees,
1:20.6	and ways to counteract some of the behavioral biases we all have.
	...

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