Endowments in Review, Michael Lewis, The Queen of Quants

“Every great money manager I’ve ever met, all they want to talk about is their mistakes. There’s a great humility there.“– Stanley Druckenmiller

RESEARCH

2021 Study of Endowments (16 pages): NACUBO-TIAA’s survey of 720 institutions covers trends around gifting, spending, allocations, and more.

Endowment & Foundation Annual Newsletter (9 pages): Meketa dives deeper into the survey results from above and shares the story of how one of their client’s have evolved their portfolio in recent years.

Endowments Record Their Best Performance Since 1989 (5 pages): Picet Wealth Management looks at long-term allocation trends, recent performance of endowment funds, and challenges they may face in the near-term.

PODCASTS

Investing

“Michael Lewis”[4/11/22 – 76 minutes] Apple | Spotify | Google

Lewis is the best-selling author and host of the popular podcast, Against The Rules. He discusses:

• How he finds stories worth covering• His new podcast season about what’s happened to our trust in experts• Handling the tragic loss of his 19-year-old daughter

From The Episode:“The essence of loss is the feeling of the loss of love.”

Why Quant is the Future — With Leda Braga, CEO & Founder of Systematica[4/14/22 – 44 minutes] Apple | Spotify | Google

Braga is the CEO of Systematica, a systematic trend-following hedge fund, and nicknamed “the queen of quants” and. She discusses:

• The gender balance in hedge funds• The difference between systematic and discretionary strategies• Why she believes quant is the future of the investment management world

From The Episode:“Financial markets have a lot of randomness in their behavior and no matter how well you do your job sometimes the randomness just works against you for a long period of time.”

Good investing,Meb Fabertheideafarm.com