Larry Kochard

speaker

464 appearances 1 recordings 1 series first heard Feb 2026 last heard 11 Feb

Larry Kochard’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Feb 2026 with 1.

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How I Invest with David Weisburd · E302: Legendary CIO Larry Kochard On Where Alpha is Today · 11 Feb 2026 podcast

And so many endowments would just go automatically into the longer term lockup to get lower fees.

I think people realize that the cost of going into the shorter lockup is less than the cost that you're getting

from going into those longer share class.

It's just a renewed appreciation of liquidity risk, if you will.

Finally, what I talked about, this mixing, I'd say there's a lot of co-investing.

There are a lot of institutions that may be almost akin to what some family offices are doing, which is fewer manager relationships, a lot more in the way of direct and co-investing around the periphery.

I think there are more institutions that are doing that.

I don't think you're going to see the repeat of Harvard management from years ago, which was not entirely, but a large percentage of the portfolio in internally managed funds.

But it's going to be more of this investing alongside of managers.

I think that will be a greater part of what endowments will be doing.

Completely agree.

I'm going to double down on it again.

It's all about the people.

One of the mistakes that have been made over the years is not thoroughly assessing quality of people, whether it's in personal friends or whether it's investments, is just making sure that there's no stone unturned and you're not done with that reassessment.

forever.

You're just constantly doing that.

As long as you have a relationship with that person, you need to constantly re-underwrite that and people change.

So that combined with people, meaning people in the positive sense, one of the things, you know, going back to Goldman Sachs in 1986, that I think was exceptional, still a partnership, exceptional people,

And was the ability for them to work as a team and the collaboration of Goldman.

I think Goldman still has exceptional people, but I just speaking from that point in time is the ability to,

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