In this wide-ranging conversation, Jeff Malec sits down with Dave Morehead, CIO of Baylor University's $2.2 billion endowment, to explore the unique challenges and strategies of institutional portfolio management.

The discussion covers Baylor's innovative approach to portfolio construction, including their successful deployment of volatility strategies during the 2020 market crash, their current cautious stance on equity exposure, and their philosophy on private investments. Morehead explains why they're shifting away from cyclical assets in private markets and focusing on secular growth trends in healthcare, technology, and consumer sectors.

Particularly timely is their analysis of recent market volatility, bond market dynamics, and the broader implications of trade policies on institutional investment strategies. The conversation provides a rare glimpse into how a major university endowment navigates market uncertainty while maintaining its core mission of supporting education and student scholarships.

Whether you're an institutional investor, family office manager, or investment professional, this episode offers valuable perspectives on long-term portfolio management and the evolving landscape of institutional investing. From helium gas investments to long volatility strategies, learn how one of the industry's thoughtful practitioners approaches risk and return in today's complex markets.

You want to learn how institutional portfolios really work? You want to understand how endowments think about risk? You want to hear from someone who's traded it all and now manages billions? SEND IT!

Chapters:

00:00-00:55 = Intro

00:56-09:33 = Hedge Funds to Higher Education: Dave Morehead's Career Pivot

09:34-26:18 = Baylor's Endowment Investment Philosophy

26:19-36:20 = Beyond the S&P 500: Uncovering Unique Investment Opportunities in Helium and Niche Markets

36:21-46:30 = Hedging and Volatility: Navigating Market Uncertainty with Strategic Risk Management

46:29-53:51 = Trust and Uncertainty: The Geopolitical Challenges of Modern Investing

53:52-01:00:32 = The Long View: Endowment Investing Beyond Quarterly Returns

01:00:33-01:09:39 = A Nostalgic Journey Through 80s Rock

Follow along with Dave on LinkedIn and X and also be sure to check out Baylor's endowment for more information!

Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.rcmalternatives.com/disclaimer⁠

The Endowment Playbook: Balancing Long-Term Goals with Current Market Volatility

The Derivative