The podcast explores strategies for building and sustaining successful endowment programs, emphasizing the importance of long-term investing and risk management. Larry Kochard, former CIO at the University of Virginia and Georgetown, shares insights from legendary CIOs like David Swenson and Alice Handy, highlighting the need for investment committee buy-in and integration within the academic community. Kochard stresses the scarcity of alpha and the necessity of identifying inefficiencies and skilled managers, particularly in private markets and emerging markets. He also advises CIOs to focus on the quality of people, collaboration, and understanding the edge of both the manager and the institution, advocating for a patient, introspective approach to asset allocation.
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