David Weisburd
speaker
10,598 appearances
71 recordings
1 series
first heard Jan 2026
last heard yesterday
David Weisburd’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 71 in all, peaking in Jan 2026 with 14.
Appearances
communicate to.
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And again, going back to the rudeness, if you didn't know why this fund is in your portfolio and that fund might be down 30%, it's very difficult to defend that position.
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Maybe you could double click on this criteria that you use to determine whether it's a great fund manager.
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Maybe you could give me an example of a fund manager that you continue to back despite them having a bad fund vintage.
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I think
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Previous guest Cliff Astness, who founder and CIO of I think now roughly a hundred fifty billion dollars, he talked about this where some years people are praising him for his performance because they're benchmarking him against S P five hundred and he's like, You should be criticizing me.
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And some years people are criticizing him for his performance because he might even be down, but the market's down way more.
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And they should be praising him.
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So there's always this de facto benchmarking that goes on.
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This almost goes to the very foundation of investment and
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Howard Markowitz won the Nobel Prize for proving that you could have this diversified portfolio.
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And then you s step back and you think about what does that mean?
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That means that some years some of your assets are going to be down, some years they're going to be up.
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And if you do the worst possible thing, which is selling when things are down and buying when things are up, you're not only going to do worse than the overall portfolio, you're going to actually have negative alpha.
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So you're going to actually have negative returns.
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And easier said than done.
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You have to actually know which one of your managers are good and which ones are just in a bad part of the market.
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an interesting point they brought up, which is different sometimes is bad.
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I also wonder whether different is sometimes weird.
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In other words, when you think about a manager's right to win, if everybody has the same right to win and becomes kind of competed away, do you find that some of these right to wins, at least for a time period, seem weird or seem different?
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Showing 2241–2260 of 10,598 · page 113 of 530
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