Senior Decision Makers: Luis Laboy, Hewlett Foundation (EP.512)

The modern investment landscape requires a fundamental reassessment of market risks, as geopolitical, political, and social uncertainties now permeate both emerging and developed markets. Luis Laboy, Director of Public Equities at the Hewlett Foundation, argues that successful allocation demands moving beyond spreadsheet-based models to focus on dynamic portfolio construction and deep manager alignment. Rather than seeking consensus, investors must prioritize contrarian insights and clear, criteria-based manager selection to navigate shifting opportunity sets. Laboy emphasizes that effective decision-making hinges on understanding the underlying drivers of market movements and ensuring that a manager's strategy remains coherent with their internal philosophy. By treating the portfolio as a collection of evolving relationships rather than a static checklist, allocators can better adapt to disruption risks, such as rapid technological acceleration and policy changes, while maintaining a disciplined, long-term perspective on capital growth.