🎥 Capital Allocators' Ted Seides - the capital allocator behind the mic

Welcome back to the Alt Goes Mainstream podcast. What happens when two podcasters walk into a room? They talk. Today’s podcast turns the tables on one of the industry’s leading podcasters and content creators to have him share his story and experience as an allocator and content creator. We sat down with Ted Seides, the Founder of industry-leading podcast Capital Allocators and former President and Co-CIO of Protégé Partners and an asset allocator at the Yale Endowment. Ted has had a tremendous career at the intersection of asset allocation and content, so it was fascinating to hear his perspectives on the state of the industry and how it’s evolving from someone who talks with many of the industry’s leading minds through his podcast, Capital Allocators. Ted and I had a fascinating conversation. We discussed: * Stories and lessons learned from working with David Swensen at the Yale Endowment. * What the wealth channel can learn from institutional investors. * What Ted looked for in hedge funds and alternative asset managers when doing manager due diligence. * Ted’s bet with Buffett on hedge funds and why he’s now doing a bet on PE versus public equities. * How alternative asset managers are evolving and the pros and cons of evergreen structures. * Why and how Ted started Capital Allocators and why content is so critical to learning asset management and understanding how firms operate. Capital Allocators is one of my favorite podcast listens and Ted always delivers with high-quality and thoughtful content so it was an honor to have him on the show. Thanks Ted for sharing your expertise and wisdom on asset allocation and content and for the service you provide to everyone in the industry through education and the creation of such high-quality content for us to consume. 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Show Notes 00:00 Introduction to our Sponsor, Juniper Square 00:38 Juniper Square's AI Capabilities 01:50 Guest Introduction: Ted Seides 03:11 Ted's Background and Career Start 04:12 Working with David Swensen 04:58 Investment Principles from Yale 06:16 Wealth Channel vs. Institutional Allocators 06:42 David Swensen's Second Book 07:38 Alpha and Beta in Private Markets 08:37 Access to Top Managers 13:19 Private Equity vs. Public Equities Bet 15:15 Evaluating Private Equity Returns 18:32 Diversification in Private Markets 20:10 Lessons from Hedge Fund Evolution 28:48 Investment Culture and Philosophy 30:31 Evaluating Managers: Art and Science 32:01 The Role of AI in Diligence Processes 33:37 Market Opportunities and Edges 34:06 Impactful Investment Decisions 35:32 Challenges in Today's Investment Climate 37:00 Behavioral Biases in Investing 39:25 AI's Role in Investment Decisions 41:18 Navigating Content Overload 42:46 The Birth of Capital Allocators 44:11 Learning from Podcasting 47:20 Building a Business from a Podcast 49:12 The Value of Relationships in Investing 50:58 Effective Content Strategies for Managers 53:49 Choosing the Right Content Modality 54:50 Direct Communication vs. Mass Algorithms 55:20 Brand Building vs. Direct Sales 56:42 Insights from Podcast Conversations 58:30 Favorite Private Market Investments 01:00:11 AI's Impact on Private Markets 01:01:40 Partnering with Experts in AI 01:02:19 The Importance of People in Investing 01:02:39 Wrapping Up the Conversation Editing and post-production work for this episode was provided by The Podcast Consultant. Join over 12,400 Substack subscribers & followers who are thought leaders and executives from top private markets firms and wealth management like Blackstone, Apollo, Ares, KKR, EQT, Carlyle, Blue Owl, CVC, TPG, Brookfield Oaktree, Vista, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen, Hg, Permira, General Atlantic, Stonepeak, Hightower, Focus Financial, Cerity Partners, and more. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit altgoesmainstream.substack.com