E235: The First Thing LPs Notice That GPs Never Think About

In this episode of the How I Invest podcast, David Weisburd interviews Alex Ambroz, a seasoned investment professional with experience at Morgan Creek, J.P. Morgan, Cleveland Clinic, and Aberdeen. Ambroz shares his insights on the "infinite game of investing," emphasizing the importance of continuous learning and acknowledging the limits of one's knowledge. The discussion covers Ambroz's early experiences at Morgan Creek, the characteristics of early adopter LPs, distinguishing alpha from beta, and the collaborative nature of top allocators. They also delve into strategies for allocators to stay updated on new asset classes, the due diligence process, and best practices for GPs in educating LPs. The conversation concludes with a discussion of the Allocator Training Institute, aimed at training younger allocators.