Yale, Dean Takahashi, Tim Sullivan discussed on Invest Like the Best


Investors out there this is a interesting and sexy asset class we know what that usually means for returns and there's a lot of there's a lot of zeroes so usually the when i asked this question of people that are in this world they say nobody should be an angel investor unless you unless you're just like have some super special set of circumstances so different way of asking it is coup of the of the broad general categories from individual investors to ultra high net worth investors to whoever else you want to categorize should and shouldn't invest in venture just in general says hey the biggest driver venture success as a willingness to have a long horizon i mean it is the asset class where you have to take the most on faith for the longest amount of time you're buying actually quite literally the longest dated furthest out of the money options the the you know you can buy in in all of the firmament of assets i believe in so having that high tolerance for risk illiquidity in horizon is a really rare kind of true trio i used to say that makes it a particularly interesting asset class for endowments this is the kind of swinson line but again with respect to don't try this at home you look at the team at yale and the core that team has been together since in some cases tim sullivan the private equity has been there since the mid eighties dean takahashi has been there since eighty one swiss are you of this amazing persistence and institutional memory then i look at their other endowments who i've there's this one school that we'd all be happy to and proud to send our kids to is gone through seven generations of private equity guys and every time there's a new sheriff in town you know all the managers rank shis and you know i it starts to i think erode franchise so the right endowments are important in then high net worth who have an entrepreneurial outlook so think more like principles and agents that's where he gets some of the problems in institutional investments is if people think too much like agents and they want.

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