In this podcast, Dean, the Chief Investment Officer of KFF, shares insights from his experience managing a $700 million endowment that exclusively invests in venture capital. He delves into KFF's investment strategy, highlighting the critical role of understanding correlations within a diversified portfolio, even among seemingly unrelated asset classes. Dean addresses the challenge of distinguishing between true performance and effective marketing in the investment landscape, advocating for a focus on the investment process rather than just the results. He also discusses KFF's approach to macroeconomics and thematic investing, along with the unique aspects of managing a smaller endowment, including the pros and cons of its size and concentrated venture capital focus. To wrap up, Dean offers valuable advice for aspiring institutional investors, emphasizing the importance of networking, asking insightful questions, and maintaining a long-term perspective.
