Talk Your Book: Streamlining Alternative Investments

Animal Spirits Podcast

The Compound

Investing, Business, News, Business News

4.7 • 2.1K Ratings

🗓️ 22 May 2023

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today's show, we are joined by Brett Hillard, CIO of GLASfunds to discuss advisor pain points when investing in alts, the fund manager due diligence process, how interest rates affect the alternatives market, and much more! Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation. Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today's Animal Spirits' talky book is brought to you by GlassFunds.
0:04.0	Go to GlassFunds.com that's GLAS to learn more about how they work with advisors
0:09.0	to bring alternative investments to their clients.
0:11.0	Welcome to Animal Spirits, a shell about markets, life, and investing.
0:15.0	Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.
0:20.0	All opinions expressed by Michael and Ben are solely their own opinion
0:24.0	and do not reflect the opinion of Red Holtz Wealth Management.
0:27.0	This podcast is for informational purposes only and should not be relied upon for any investment decisions.
0:32.0	Clients of Red Holtz Wealth Management may maintain positions in the securities discussed in this podcast.
0:40.0	Welcome to Animal Spirits with Michael and Ben.
0:43.0	Michael, one of the initial jobs I had earlier in my career was working for an investment office for a billion dollar fund, not the brag.
0:50.0	We were a small investment shop. There were only three of us.
0:55.0	One of my roles was as operational manager of hedge funds and private equity.
1:01.0	I had to track capital calls and distributions from private equity accounts and paperwork.
1:07.0	It was just a mess for such a small team.
1:11.0	It was a lot of heavy lifting for these funds.
1:16.0	I came away from that experience thinking the operational inefficiencies of running alternative platform are just not worth it.
1:25.0	If you have to do all of that heavy lifting because there's so much that goes into running it that you just don't have to deal with for more liquid public investments.
1:32.0	How many funds were we talking?
1:34.0	Do you remember, give or take?
1:36.0	The hedge funds probably a dozen private equity funds, probably 30 to 40.
1:41.0	It was a lot of new funds coming on and old funds maturing and money being moved round.
	...

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