Audioburst Search

17 Burst results for "Brinson partners"

"brinson partners" Discussed on How'd It Happen Podcast

How'd It Happen Podcast

12:47 min | 6 months ago

"brinson partners" Discussed on How'd It Happen Podcast

"Big four accounting firms and we won't have any conflict of interest problems and we'll do exactly what we did it air sea. Let's go do it again. And he said I'm interested you know and I literally felt like I had the funding literally over that beer now. I had to go still do the business plan and get the pitch together and go down but they invested so I literally made one phone call went to see Bob and went to see him in one of his other partners and walked out and had a three million dollar commitment and venture money to get started with Jefferson Wells. And what you do with the money so I you know. We had a office in one hundred east building and I remember it was about twenty five hundred hundred square feet and I rented furniture and I started to interview people and they would come in and they said well. Where's everybody else I said? Well it's just me right now and they're like well this kind of a big office or just you and I said Yeah but we're GONNA fill this baby up you know and of course we did So I started hiring sales people we started in Milwaukee. Then we went to Cleveland. And we'd have we hire sales people just like do it. Patina now in advance of having ving revenue for them. It takes them a while. I don't care how good yard sales it doesn't fish. Don't jump in the boat. You got to get out there. So that's why you need the capital in a business at least in the model like we've used gotta go out and hire sales people and some of them don't work out and does so. That's what we did really and then I started adding managers to the team and I think the first Brown was a million dollars and they had some requirements. I had to be like sixty five percent of my plan or something and then they were committed to give the next million. We just had such a great eight first year. I mean we only did a million dollars in revenue but we prove that there was demand. Shrimp go out find at price at right people so I got the rest of the money pretty quickly. And how did you had you been involved in an air sea in the recruitment of the professionals that you then I don't know what the right term is contract to your customers. 'cause I'm just curious how you so. You're recruiting employees. And then you're also recruiting professionals like could yeah right. Yeah no I did. Not but we had like thirty thousand people and they would just register her and then we had people who specific job was to find the right. It guy to go out and work on a project and sometimes we twenty five or thirty people out there so the recruitment engine was is pretty big so there was like a A way for people to express interest or whatever and then they're sort of on a board and then shirts computerized and all now that just kind of thing. That's that's how so that part you were trying to recruit people but they could sign up themselves and then you could picked from. Yeah it's Sorta like exactly like Patino where we've got this nation of people these experienced executives and we can get to Pitino but it was the same thing at Air Sea just had a lot of. It guys available. Then Jefferson Wells. It was a little different. There was an hiring people that were salaried so you know I probably in the end I think we got a thousand people in the company and so we would we would hire people than away from Ernst and young or you know some of the other accounting firms and they weren't gonNA come to do it on a project based people you can put on her salary fully. Committed to these people had to find work. We had a bench. Yeah so you just kind of off handed lease sort of I said you know grew two thousand people so so you have this one person you in this twenty five hundred square foot office and then in a short period of time with Jefferson Wells to right at relatively speaking with very very fast two thousand I would say it was I just I mean as much as I always believe. The best deal is still coming. I'd still always believe that I think the Jefferson Wells start up to sail stories. Got To be one of the best so to start up two exits in the history of the state. I mean we went from me two thousand people in from no revenue and we started not a single client so we did a million dollars in our first year by year. Five hundred thirty two million in revenue. So we just we just grew so fast and it was just the right time when I look back back at. It was the right time that was the right model for the time. I didn't really know what I didn't know so as a first time. CEO I didn't I sort of let things happen happen. You know. I didn't WanNa over manager micromanage. I I was a young guy was thirty. Five hired a lot of young people that hadn't proven themselves but I saw something in them mm-hmm and I would just get out of the way and let let the the offices and the leaders out in the market student thing you know. I was there when they need me. But I didn't micromanage it and then I never had to worry about capital because I had the good venture capital behind me and then we brought baird that you're Partners in our second venture firm so I just had all the capital I needed and if I needed more they sit here because the results were there so I could really sorta just focus on the vision of the company and I went out and saw clients a about. That's I think what I was. Probably the best ad is just go out and say thank you to clients and but it it was just such a rapid growth. It's hard to think about replicating. Yeah Yeah But it was. It was a special type in kind of a special company and you said Well before I get to that question you you were when you when you decide. I'd Aleve you thought you were ready. You obviously the story has proven that you already but was there a time when you were like business. This is too fast and not ready for this or was it you know. I'm sure it wasn't just smooth sailing even though it was was a tremendous tremendous Tremendous was there a time when you were like this is not second you know it was it was crazy are we had just. We're starting our family and you know. Sometimes what's the old saying. You want something done. Give it to the busiest person. Yeah that's how I sort of felt. I was highly energetic. I you know and there was a lot going on in my life and I was like bringing up so But but I you know there's definitely always have some doubts about. Am I doing this right or could be even be growing faster or are we growing too fast. There were a lot of those kinds of questions but that was what we were. Therefore we were built for it and I you know I had a good management structure and so I made the investment. It wasn't like I was the only guy managing sales people. I put leaders out in the field offices and so we had enough capital so we could really structured the business right and didn't care about the profitability in the earlier. They're like don't even worry about it. Give me the top line. Show me that you can hire people that are great for our clients manage the margin that we make with our clients. Don't worry about the GNA DNA. They like me. I watched carefully but they were like we don't care if we lose a million and a half dollars in the first year we don't care because we're looking at year five and that's really what matter so I didn't feel a lot of pressure like that And you know again not having to worry about capital. So I don't ever think you can grow too fast it's fun When starts to get crazy like that and there were some years where we doubled our revenue? We let from what we were. I think we did. Twenty six million in our third earlier than we went to seventy five million the next year so that we tripled the business in one year. It was kind of fun because we were. You know buying computers you know the. UPS truck was showing showing up with computers. We had a great account at best. Buy Those guys love and how different was the growth trajectory them. What the business business plan said? That's an excellent question so I- projected that we would do thirty six million by the fifth year at Jefferson Jefferson Wells and we did basically four times. That's you know that's awesome is WanNa sorta under promise and over deliver but that that just turned out to be. I didn't know I was just doing the business plan and trying to be you know realistic and yet still have numbers. That were appealing so I think if the venture guys casual great we put in our three million and all of a sudden the businesses doing thirty or forty million bucks in five years. Maybe we sell it for that. Everybody does pretty well So you that I didn't want to like put one of these business plans that shows I'm going to be at five hundred million in revenue and five years and we'll be worth a billion dollars I'm like I saw people that over over over promised in pitches at one point and I was like it's not gonna be me. I'm GonNa make a pitch that I really believe in my heart I can make it just turned out. It just caught fire okay. That's what I was wondering 'cause I figured you had a lot of experience. Watching people come in and zero to thirty six millions pretty takes interactive zero to one hundred thirty two million better though. Yes well. It's way better. Yeah so you mentioned about how did didn't care if you make money so I thought I had to take the opportunity to get into like today's world because there are a lot of companies now that are very Very much sales oriented profitability too. Isn't important we've seen some sort of change in the market belief relief in that particularly when it comes to public We work for example. How has your feeling about that just on a macro level not on your level? Because I'm sure you're you're very close in you know that but just a macro level how do you feel about that strategy. It's a really good question. I watched some of these companies. Is that like scooter. Companies and their evaluation is just so out of A. It's just not my world you know I mean I. I had investors. They were like Yep up. The top line is what we're watching grow. Can Our brand build those were good certain cornerstones right. They were good building blocks And so we were never because like super highly valued ahead of our time in so. That's just my sort of I mean I'm fifty nine. I just the the back in those days you know. We didn't have some of those kind of crazy as evaluations. They had to be something there and I see some of this stuff today. I'm just like the scooters real I mean they have a couple of billion dollars value in schooners are like three hundred dollars. You know you and I go put him on the street you know so I you know I but I understand. There's this vision and excitement. And some of those things I guess. Ask Mike Up. And he's never worked terribly exciting. You know they were just an and they've been sort of similar. I mean really. When I think of arsia was a staffing business than Jefferson Wells was a St? Maybe a step up from that we were more like professional services and Really Patina sort of the pinnacle. Now we're doing more. CFO's and sort of executive and senior management management level folks. But so I you know I just don't play in that world of these valuations at seem just so far fetched. I'm trying to think of what the Monday post pitch meetings at one. Point back in the day would have been like if someone came in and said well here. I'm going to. I'm going to rent office space and I'm going to rewrite it to somebody else and I think it's going to be worth whatever and we'll have scooters out front and we'll give free stuff away all right. Yeah that would have been a short pitch so so when it when it came time to sell Jefferson Miles how I don't think many people have been through the actual sale of a business. So I'm curious if you could just take us through your what you what was going on in your mind How it occurred and came to be at a possibility in the first place in where your mind was going through and how ultimately you you got to be to the end yeah? It's another really good question so I I was a young guy I mean I was forty years old and it was going great. You know the numbers were awesome. And I like my job I always say I love my job. I had a great job and so you know I I didn't we started that at Business Jefferson Wells and we knew we were going to sell it all the companies I start. I'm not playing on these becoming family. Companies I mean I you know all of these got funded. We WanNa Groman at some point. We want to exit so I knew that was coming. It just came a little faster than maybe I thought so. I was a pretty young guy and I just you know realistically Brinson partners made the decision right. They had control and they said Mike. The businesses.

Jefferson Wells Air Sea Jefferson Jefferson Wells Business Jefferson Wells Mike Milwaukee Cleveland Jefferson Miles ving Brinson partners Bob WanNa Groman Brown Ernst Patino CEO Pitino baird
"brinson partners" Discussed on WAFS Biz 1190

WAFS Biz 1190

09:01 min | 1 year ago

"brinson partners" Discussed on WAFS Biz 1190

"With the. And words coming up the afternoon, Marianna were very will make old timers day debut at the stadium and the president will go for a four-game sweep of the Astros, their teams heading in opposite directions. The of one eight in a row. Wow. Houston dropped seven in a row, the Yanks getting by the stroz seven five Saturday night in the Bronx, Giancarlo Stanton collecting his first Rb is of his injury plagued season Stanton. Drove in four runs on a couple of go ahead, two run singles, the second one breaking five all time, the seventh inning GO or Sheila and Austin role mind both homered for the bombers Massieu Tanaka taking notice after pitching six innings of two on ball. It was after noon delight for the Mets at Wrigley field. They crush the cubs ten to Pete Alonzo Todd Frazier and Wilson romo's all homering for New York Alonzo, belting is twenty six of the season, tying him Daryl strawberry for the franchise rookie record of buzz around it. So I kinda just would see kind of other people. I mean, if, if other people didn't tell me that I have no idea. But I was just trying to put a go to put together a really good at bat to start off the game and set the tone Jack Wheeler to win seven innings for the win. The Mets have won two in a row. College hoops. It looks like Yukon is heading back to the big east in two thousand twenty the school had moved to the American athletic conference in two thousand thirteen no word on the future of yukons football program as the biggest does not have football. And it's unlikely that you con- will remain in the American with just a football team. I to highlight of day to the NHL draft at least on the local front, a trade made by the devils in Nashville predators. New Jersey acquired all star defenceman PK sue ban and exchange for defensemen. Steven Santini prospect, Jeremy Davies and a pair of second round picks Gallup Chaz review is six shot lead after three rounds at the travelers championship in Cromwell, Connecticut. That's a Bloomberg sports update. I'm Paul Edwards. These masters in business with Barry ritholtz on Bloomberg radio. My special guest today is Chris Brightman. He is the chief investment officer of research affiliates, whose investment strategies currently manage over two hundred billion dollars. Previously, he was the board chair at the investment fund for foundations he was the CIO of the strategic investment group, and director of global equity strategy at UBS asset management, Chris Brightman. Welcome to Bloomberg. Thank you for having me. So that's a really interesting resume. You've worked at some very storied places. What I attracted you to the field of investment management. I arrived at my university, Virginia Tech having been accepted into the liberal arts school, and after listening to the dean of the liberal arts, school address the auditorium of new students. Explaining why you've made the right choice. I approached the podium and said, I think I'm in the wrong place. I want to go to the school of business and without missing a beat or even seeming to notice, the irony. The dean said, oh, yeah. Well, you walk down three buildings over to that way. And, and I changed before I even began classes to the business program, mostly because I figured you have to understand this is the seventy s I wanted a job when I graduated, and I felt like majoring in business would would be more likely to lead to a job than liberal arts. I don't know if that was right. But that's, that's what I did. And then I clearly worked right and finance because it was more interesting than accounting. And for some of our younger listeners the nineteen seventies was a period of stagflation, high inflation, and high unemployment. What was it like coming out of school into that? Environment. The I graduated in the early eighties. And the early eighties were an awful time, there was a nasty recession, and I was really lucky. Yeah. Right. Eight hundred eighty two was horrible. Eighty three was a little better. And I was lucky to graduate in eighty three eighty four eighty five was boomtime great. But, but I graduated in eighty three and. I think really got me into the investment management industry was an internship that I had with First Chicago in one thousand nine hundred two over the summer and my internship, was with the institutional trust department at First Chicago, which later became First Chicago investment advisers, which later became Brinson partners. And Gary Brinson, the founder of Brinson partners was one was really my first mentor in the business beginning in nineteen eighty two. So you were working on the endowment side of the street. How does the endowment side differ from working with retail investors and people with money as with 4._0._1._K's in IRAs, etc? I've had about a three and a half decade career thirty five years in the business of which I took a rather brief five year detour into the nonprofit area managing the university of Virginia endowment, and it differs in a number of ways probably the. Most interesting to an outsider is the access that one gains to elite investment managers how big was the endowment at the time. Over five billion. Okay. So that's real money. I think interestingly, though, it's less challenging it's an easier job. I'm so surprised you say that and maybe this projecting. But I would imagine that running endowment and my frame reference. References all the craziness we've seen with the Harvard endowment over the past twenty years, and what recently happened with the Ellen dominant Swenson. I would imagine there are so many political constituencies to deal with, it would be a huge distraction or at Jinnah tackle. We not seeing that sort of Cambridge craziness. It's a point of clarification. I was the CIO at the university of Virginia though. My alma mater, is Virginia Tech shit. So let's serve on the investment committee at Virginia Tech as well. So there's and I had one daughter that went to and one daughter, the Virginia Tech, so I have loyalties with both schools so so to clarify I clearly misspoke. You were the CIO at the Virginia. University of Virginia endowment and that covered what school or schools UVA. This just one endowment, five billion dollars actually fascinating enough. It's much more complicated than that. The university of Virginia has dozens of nonprofit organizations. All of whom have their own fundraising staff their own endowments and the university of Virginia investment management company, may five one three, c nonprofit creation with its own board in its own audit its own charter, etc. Serves as an investment advisor to those various pools of money. So in many ways, while I was there, I did have to address many different clients, and it is very political. You're quite correct about that. Do they all invest the same way or just each of them have different investment philosophy in different set of goals, and therefore a different portfolio? Look, you've the university of Virginia investment management company pools, the money and invested in one fashion that said all of the different pools of money don't have to invest with the university of Virginia investment management company. They can if they choose or they cannot, or they can invest part of the money for many years, the law school, wasn't convinced that it wanted all of its money in the in the pool. So just part of the law school endowment was invested in you, then co coming up. We continue. You are conversation with Chris Brightman CEO of research affiliates, discussing smart beta. You're listening to masters in business with Barry ritholtz on Bloomberg radio. You're a small business owner.

university of Virginia Virginia Tech Bloomberg Chris Brightman university of Virginia endowme Barry ritholtz Mets CIO chief investment officer dean Pete Alonzo Todd Frazier Brinson partners Giancarlo Stanton Gary Brinson Daryl strawberry school of business Virginia Chicago
"brinson partners" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

09:49 min | 1 year ago

"brinson partners" Discussed on Bloomberg Radio New York

"The boy scouts of America has announced new efforts to prevent child sex abuse in the program in April shocking allegations announced of more than twelve thousand instances of known allegations of sex abuse within the boy scouts at the hands of allegedly some seventy eight hundred adults in the program. Survivor advocate Brady Farrell says the boy scouts hid the alleged abuse in so-called perversion file for years. Data starts in nineteen forty four now scouting has announced a series of animated videos aimed at cub scouts just five to eleven informing them about how to recognize potential abusive behavior and what to do about it, Jim Roope, Los Angeles, New Mexico's Catholic Santa Fe, diocese, stunned parishioners last year when it filed for chapter eleven reorganization joining nearly two dozen other dioceses struggling with fallout from clergy sex abuse scandals. Now nearly four hundred claims have been filed against the diocese as part of the pending bankruptcy case ahead of June. Seventeenth deadline. I'm Evan Haning. Dame Susanna Palmer from Bloomberg world headquarters, the drumbeat for a Federal Reserve interest rate cut is getting louder with one policymaker calling for a fifty basis point reduction, Minneapolis fed president Neel Kashkari said yesterday that he'd pushed for such a move at the central banks June eighteenth and nineteenth meeting, where officials ended up leaving rates unchanged comments from other policy-makers reinforced expectations that the fed is, on course to cut rates, perhaps, as soon as the July meeting, rich Clarita is Federal Reserve vice chair, we really have uncertainty in the sense that there's always some geopolitical uncertainty. But there's also uncertainty about how the global economy, navigates that a point you know, you have negative interest rates in the year zone and in Japan. And I think that is a factor as, as well, cleared a spoken and exclusive interview with Bloomberg radio and television, top Trump administration officials will attend Tuesday's regional. Economic investment summit in Bahrain, the first leg of the long-awaited Middle East peace plan being led by Jared Kushner, president, Donald Trump's son-in-law and senior adviser speakers will include business leaders, including Stephen Schwarzman, chairman of Blackstone group. Randall Stevenson, chairman of AT, and T, and Tom barrack, chairman of colony capital, World Bank, president, David Malpass, and I am managing director Christine Lagarde are also scheduled to speak, the UK's Boris Johnson pitched his bid for prime minister to members of his conservative party today recent turmoil in his private life didn't trip him up at all. You drew cheers when he dodged questions about a spat with his partner that brought the police to his London home front runner Johnson and his opponent. Jeremy hunt both made their opening appeals today. Global news twenty four hours a day on air, and it ticked up on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Susanna Palmer. This is Bloomberg. These these masters in business with Barry ritholtz on Bloomberg radio. My special guest today is Chris Brightman. He is the chief investment officer of research affiliates, whose investment strategies currently manage over two hundred billion dollars. He's previously, he was the board chair at the investment fund for foundations he was the CIO of the strategic investment group, and director of global equity strategy at UBS asset management, Chris Brightman, welcome to Bloomberg Bank. You for having me. So that's a really interesting resume. You've worked at some very storied places. What I attracted you to the field of investment management. I arrived at my university, Virginia Tech having been accepted into the liberal arts school, and after listening to the dean of the liberal arts, school address the auditorium of new students. Explaining why you'd made the right choice. I approached the podium and said, I think I'm in the wrong place. I want to go to the school of business and without missing a beat or even seeming to notice, the irony. The dean said, oh, yeah. Well, you walk down three buildings over to that way. And, and I changed before I even begin classes to the business program, mostly, because I figured you have to understand this is the seventies, I wanted a job when I graduated, and I felt like majoring in business would would be more likely to lead to a job than liberal arts. I don't know if that was right. But that's, that's what I did. And then I killed clearly works, right? As finance because it was more interesting than accounting. And for some of our younger listeners the nineteen seventies was a period of stagflation, high inflation, and high unemployment. What was it like coming out of school into that? Environment. The I graduated in the early eighties. And the early eighties were an awful time, there was a nasty recession, and I was really lucky. Yeah. Right. Eight hundred eighty who was horrible eighty three was a little better. And I was lucky to graduate in eighty eighty four eighty five with boomtime great. But, but I graduated in eighty three and. What I think really got me into the investment management industry was an internship that I had with I carbo in one thousand nine hundred eighty two over the summer and my internship was with the institutional. Trust department at First Chicago, which later became First Chicago investment advisers later became Brinson partners. And Gary Brinson, the founder of Brinson partners was one was really my first mentor in the business beginning in nineteen eighty two. So you were working on the endowment side of the street. How does the endowment side differ from working with retail investors and people with money is with 4._0._1._K's in IRAs, etc. I've had about a three and a half decade career thirty five years in the business of which I took a rather brief five year detour into the nonprofit area managing the university of Virginia endowment, and it differs in a number of ways probably the. Most interesting to an outsider is the access that one gains to elite investment managers how big was the endowment at the time. Over five billion. Okay. So that's real money. I think interestingly, though, it's less challenging it's an easier job. I'm so surprised you say that, and maybe this is me projecting. But I would imagine that running endowment, and my frame of reference is all the craziness, we've seen with the Harvard endowment over the past twenty years, and what recently happened with the Ellen dominant. Swanson. I would imagine there are so many political constituencies to deal with, it would be a huge distraction or at Virginia Tech away. Not seeing that sort of Cambridge craziness. So. Point of clarification, I was the CIO at the university of Virginia though. My alma mater, is Virginia Tech shit. So let's serve on the investment committee, Virginia Tech as well. So there's an had one daughter that went to one daughter, the Virginia Tech, so I have loyalties with both schools so so to clarify site. Clearly misspoke, you were the CIO at the Virginia university of Virginia endowment, and that covered what school or schools UVA. This is just one endowment five billion dollars. Actually fascinating enough. It's much more complicated than that. The university of Virginia has dozens of nonprofit organizations, all of whom have their own fundraising staff, their own endowments, and the university of Virginia investment management company, may five oh, one three c nonprofit creation with its own board in its own audit its own charter, etc. Serves as an investment advisor to those various pools of money. So in many ways, while I was there, I did have to address many different clients, and it is very political. You're quite correct about that. Do they all invest the same way or just each of them have different investment philosophy? And in a different set of goals, and therefore a different portfolio. Look, you've the university of Virginia investment management company pools, the money and invested in one fashion that said all of the different pools of money don't have to invest with the university of Virginia investment management company. They can if they choose or they cannot, or they can invest part of the money for many years, the law school, wasn't convinced that it wanted all of its money in the in the pool. So just part of the law school endowment was invested in you. Coming up, we continue. You are conversation with Chris Brightman CIO of research affiliates, discussing smart beta. You're.

Virginia Tech university of Virginia CIO Bloomberg Chris Brightman Virginia university of Virgini university of Virginia endowme Susanna Palmer president fed chief investment officer Bloomberg radio chairman Brinson partners Bloomberg world Brady Farrell America Evan Haning Neel Kashkari
"brinson partners" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:42 min | 1 year ago

"brinson partners" Discussed on Bloomberg Radio New York

"Now this Bloomberg sports update on the baseball scoreboard and the American League. The key is win their seventh straight defeating Houston four two one two run homers from Gary Sanchez and labor, Torres, the Astros Avella six in a row. Jason kipness at a time. Breaking triple in the evening. Sending the Indians to his seven six win over the Tigers Lorenzo beat the Blue Jays intending seventy-five Christian Vasquez with the game winning two run. Homer, also tendons, the white socks over Texas five to four the twin slipped by Kansas City eight two seven Oakland Athletics pitcher Frankie mandis has been suspended eighty games by major league baseball after testing positive for performance enhancing substance. Montas was nine and two. The two point seven hour, run average in the National League, Jeff McNeil homered and drove in three runs making his first career start in right field and the Mets edge the cubs five to four Dallas conical made his Braves debut copping of three nothing. Lean is the national, it's come from behind. To defeat Atlanta for two three Marlins starter Sunday, Elkin Tara pitched into the eighth inning. And Brian holiday. Homered and Miami's two one win over the Phillies Joe grove allowing one run on five hits over seven innings pitching, the pirates to two one win over the Padres interleague action Albert who holds played his first game in sT Louis eight seasons and signing with the angels who holds singled and walked in three plate appearances as the angels, fall to Saint Louis five to one at the NHL draft in Vancouver. The New Jersey Devils selected American Center. Jack us with the first pick in the draft. And the Rangers are making finish wing. Capo Cocco, the second overall pick Jerry Kelly shot, a seven under sixty five on Friday to take the first round lead in his hometown. American family insurance, championship, classic in Madison, Wisconsin, college baseball, Michigan is reached the finals of the college World Series, after eliminating Texas, Tech with a fifteen to three victory. The best of three championship gets underway Monday when the wolverines take on. Underbilled will the Bloomberg sports update. I'm Tom Rogers. Is masters in business with Barry ritholtz on Bloomberg radio. My special guest today is Chris Brightman. He is the chief investment officer of research affiliates, whose investment strategies currently manage over two hundred billion dollars. He's previously, he was the board chair at the investment fund for foundations he was the CIO of the strategic investment group, and director of global equity strategy at UBS asset management, Chris Brightman. Welcome to Bloomberg. Thank you for having me. So that's a really interesting resume. You've worked at some very storied places. What I attracted you to the field of investment management. I arrived at my university, Virginia Tech having been accepted into the liberal arts school, and after listening to the dean of the liberal arts, school address the auditorium of new students. Explaining why you'd made the right choice. I approached the podium and said, I think I'm in the wrong place, I'm gonna go to the school of business and without missing a beat or even seeming to notice, the irony. The, the dean said, oh, yeah. Well, you walk down three buildings over to that way. And, and I changed before I even began classes to the business program, mostly because I figured you have to understand this is the seventies, I wanted a job when I graduated, and I felt like majoring in business would would be more likely to lead to a job than liberal arts. I don't know if that was right. But that's, that's what I did. And then I killed clearly works. Right. And I chose finance because it was more interesting than accounting. And for some of our younger listeners the nineteen seventies was a period of stagflation, high inflation, and high unemployment. What was it like coming out of school into that? Environment. The I graduated in the early eighties. And the early eighties were an awful time, there was a nasty recession, and I was really lucky. Yeah. Right. Eight hundred eighty two was horrible. Eighty three was a little better. And I was lucky to graduate in eighty three eighty four and eighty five with boomtime, right? Great. But, but I graduated in eighty three and. What I think really got me into the investment management industry was an internship that I had with First Chicago in one thousand nine hundred eighty two over the summer and my internship, was with the institutional trust department at First Chicago, which later became First Chicago investment advisers later became Brinson partners. And Gary Brinson, the founder of Brinson partners, was one of my was really my first mentor in the business beginning in nineteen eighty two. So you will working on the endowment side of the St. how does the endowment side differ from working with retail investors, and people that money is with 4._0._1._K's IRAs, etc. I've had about a three and a half decade career thirty-five years in the business of which I took a rather brief five year detour into the nonprofit area managing the university of Virginia endowment, and it differs in a number of ways probably the. Most interesting to an outsider is the access that one gains to elite investment managers how big was the endowment at the time. Over five billion. Okay. So that's real money. I think interestingly, though, it's less challenging it's an easier job. I'm so surprised you say that, and maybe this is me projecting. But I would imagine that running endowment and my frame, references all the craziness, we've seen with the Harvard endowment over the past twenty years, and what recently happened with the Ellen dominance. Swanson, I would imagine there are so many political constituencies to deal with it would be a huge distraction or at Jinnah Teke. We not seeing that sort of Cambridge craziness. So. Point of clarification, I was the CIO at the university of Virginia though. My alma mater, is Virginia Tech shares. So let's serve on the investment committee at Virginia Tech as well. So there's an had one daughter that went to UVA and one daughter, the Virginia Tech, so I have loyalties with both schools so so to clarify Cy clearly missed both, you were the CIO at the Virginia university of Virginia endowment and that covered what school or schools UVA. This is just one endowment five billion dollars. Actually fascinating Lee enough. It's much more complicated than that. The university of Virginia has dozens of nonprofit organizations. All of whom have their own fundraising staff their own endowments and the university of Virginia investment management company, may five oh, one three c nonprofit Craciun with its own board and its own audit its own charter, etc. Serves as an investment advisor to those various pools of money. So in many ways, while I was there, I did have to address many different clients, and it is very political. You're quite correct about that. Do they all invest the same way or just each of them have different investment philosophy in different set of goals, and therefore a different portfolio? Look, you've the university of Virginia investment management company pools, the money and invested in one fashion that said all of the different pools of money don't have to invest with the university of Virginia investment management company. They can if they choose or they cannot, or they can invest part of the money for many years, the law school, wasn't convinced that it wanted all of its money in the in the pool. So just part of the.

university of Virginia Bloomberg Virginia Tech university of Virginia endowme CIO chief investment officer baseball dean Brinson partners Jason kipness Virginia university of Virgini American League Chris Brightman Gary Brinson Chicago National League Christian Vasquez Houston
"brinson partners" Discussed on Masters in Business

Masters in Business

04:01 min | 1 year ago

"brinson partners" Discussed on Masters in Business

"What other books, do you think are essential reading? Or what are you just like to read, if you wanna relax? By the way, this is everybody's favorite question. People want reading suggestions more than anything. They don't know which of the three hundred thousand books that come out each year to read, so they take these very seriously. Yeah. Sure. If you want to understand the future of markets, and the intersection of public policy and markets, the three books that I just mentioned are the ones of the dozens that I've read over the last few years, that I think are most important, Phelps Wu. And what's the third one Jonathan Tepper? Oh, okay. It's the myth of capitalism. When I want to escape, I don't read about economics and policy. I read a science fiction Matz ablest, so nothing wrong with that. What do you like under Sifi? I guess under fantasy instead of sci-fi. I loved the game of thrones. And I loved it so much that after watching the series, I then read all of the books, and then I went back and rewatch the all of the series. I also read one of one of my favorite sell though. You're seeing less get published, as in a sort of sub-genre called cyberpunk are you a Neil Stevenson fan? Absolutely. I just got haven't read it yet, but I, I have sitting on my desktop seven Eve's. That's what is literally sitting on my night table. I read it. It's fab. Really? And then also on my list, I, I'm going to throw you books that people have recommended me that I haven't gotten to yet the three body problem, people have raved about that trilogy from the author out of China and really fascinated by by your list. So what are you most excited about right now? What, what is the part of the industry that has you really enthusiastic? I am very enthusiastic about the opportunity to use twenty-first-century technology and part of it is financial technology. Part of it is financial modelling and predicting what's going to happen. But importantly, a lot of it is communication technology, what we're doing right now to help educate investors to achieve a better outcomes, and I am very pleased to see the costs being a reduced in the industry. The provision of investment strategies. At couple of basis points. Right. It used to be a hundred basis points, one hundred and fifty basis points was the cost of investment strategy. Now it's twenty basis points or ten basis points or five basis points, and providing the average investor the ability to compound wealth, for their retirement without intermediaries gobbling up, so much of the, the, the returns, tell us about a time you failed and what you learn from the experience, I left UBS, so a Brinson partners where I kind of got my start we sold ourselves. I was a partner of the firm. I made a little money on that sale to UBS, and I learned after a time there that, that was not the place for me. I'm better off in smaller employee owned investment management firms than large institution. Scott God, love the people that thrive in large. Petitions because the world appears to need them, but it's not a good fit for me. And I tried to start a quantitative equity market neutral hedge fund in nineteen ninety nine to two thousand with some backing from a firm called Greenwich capital grant, listen around anymore..

UBS Scott God Jonathan Tepper Phelps Wu Greenwich capital Neil Stevenson partner Eve China Brinson partners
"brinson partners" Discussed on Masters in Business

Masters in Business

05:18 min | 1 year ago

"brinson partners" Discussed on Masters in Business

"You're listening to masters in business with Barry ritholtz on Bloomberg radio this week on the podcast I have a special guest and his name is Chris Brightman. He is the chief investment officer of research affiliates, better known as RAFI the firm, which is one of the prime drivers behind the trend toward smart beta or fundamental indexing as it is more accurately called a we go off into the weeds about portfolio construction what drives returns what are the best ways to approach. Constructing a portfolio a research affiliates their models. Run about two hundred billion dollars worth of offerings. This is quite a fascinating conversation. And I think you'll find it very intriguing. So with no further ado. My conversation with Chris Brightman of research affiliates. This is masters in business with Barry ritholtz on Bloomberg radio. My special guest today is Chris Brightman. He is the chief investment officer of research affiliates, whose investment strategies currently manage over two hundred billion dollars. He's previously, he was the board chair at the investment fund for foundations he was the CIO of the strategic investment group, and director of global equity strategy at UBS asset management, Chris Brightman. Welcome to Bloomberg. Thank you for having me. So that's a really interesting resume. You've worked at some very storied places. What I attracted you to the field of investment management. I arrived at my university for Jin tech having been accepted into the liberal arts school and after listening to. The dean of the liberal arts, school address the auditorium of new students explaining why you'd made the right choice. I approached the podium and said, I think I'm in the wrong place. I want to go to the school of business and without missing a beat or even seeming to notice, the irony. The, the dean said, oh, yeah. Well, you walk down three know buildings over that way. And, and I changed before I even began classes to the business program, mostly because I figured you have to understand this is the seventy s I wanted a job when I graduated, and I felt like majoring in business would would be more likely to lead to a job than liberal art that was right. But that's, that's what I did. And then I killed clearly works, right? Those finance because it was more interesting than accounting. And for some of our younger listeners, the nineteen seventies was a period of stagflation. High inflation and high unemployment. What was it like coming out of school into that environment? The I graduated in the early eighties. And the early eighties were an awful time, there was a nasty recession, and I was really lucky session. Yeah. Right. Eight hundred eighty two was horrible eighty three was a little better. And I was lucky to graduate in eighty eighty four and eighty five was boomtime great. But, but I graduated in eighty three and. What I think really got me into the investment management industry was an internship that I had with first ACOG. Oh, in nineteen eighty-two over the summer and my internship was with the institutional trust department at First Chicago, which later became First Chicago investment advisers, which later became Brinson partners. And Gary Brinson, the founder of Brinson partners, was one of my was really my first mentor in the business beginning in nineteen eighty two. So you will working on the endowment side of the St. how does the endowment side differ from working with retail investors and people with money as with 4._0._1._K's in IRAs, etc. I've had about a three and a half decade career thirty five years in the business of which I took a rather brief five year detour into the nonprofit area managing the university of Virginia endowment, and it differs in a number of ways, probably the most interesting to an outsider is the access that one gains two elite investment managers, how big was the endowment at the time. Little over five billion. Okay. So that's real money. I think interestingly, though, it's less challenging it's an easier job. I'm so surprised you say that. And maybe this is me projecting. But I would imagine that running endowment and my frame of references all the craziness, we've seen with the Harvard endowment over the past twenty years, and what recently happened with the Ellen dominance..

chief investment officer Bloomberg Barry ritholtz university of Virginia endowme Brinson partners dean Gary Brinson school of business Harvard UBS Chicago Ellen director founder two hundred billion dollars thirty five years twenty years five year
"brinson partners" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:39 min | 1 year ago

"brinson partners" Discussed on Bloomberg Radio New York

"Masters in business with Barry ritholtz on Bloomberg radio. My special guest today is Chris Brightman. He is the chief investment officer of research affiliates, whose investment strategies currently manage over two hundred billion dollars. He's previously, he was the board chair at the investment fund for foundations he was the CIO of the strategic investment group, and director of global equity strategy at UBS asset management, Chris Brightman. Welcome to Bloomberg. Thank you for having me. So that's a really interesting resume. You've worked at some very storied places. What I attracted you to the field of investment management. I arrived at my university, Virginia Tech having been accepted into the liberal arts school, and after listening to the dean of the liberal arts, school address the auditorium of new students. Explaining why you'd made the right choice. I approached the podium and said, I think I'm in the wrong place, I'm gonna go to the school of business and without missing a beat or even seeming to notice, the irony. The dean said, oh, yeah. Well, you walk down three buildings over to that way. And, and a change before I even began classes to the business program, mostly because I figured you have to understand this is the seventies, I wanted a job when I graduated, and I felt like majoring in business would would be more likely to lead to a job than liberal arts. I don't know if that was right. But that's, that's what I did. And then I killed clearly works right finance, because it was more interesting than accounting. And for some of our younger listeners the nineteen seventies was a period of stagflation, high inflation, and high unemployment. What was it like coming out of school into that? Environment. The I graduated in the early eighties. And the early eighties were an awful time, there was a nasty recession, and I was really lucky. Yeah. Right. Eight hundred eighty two was horrible eighty three was a little better. And I was lucky to graduate in eighty eighty four eighty five with boomtime, right? Great. But, but I graduated in eighty three and. What I think really got me into the investment management industry was an internship that I had with First Chicago in one thousand nine hundred two over the summer and my internship, was with the institutional trust department at First Chicago, which later became First Chicago investment advisers, which later became Brinson partners. And Gary Brinson, the founder of Brinson partners was one was really my first mentor in the business beginning in nineteen eighty two. So you will working on the endowment side of the St. how does the endowment side differ from working with retail investors and people with money is with 4._0._1._K's in IRAs, etc. I've had about a three and a half decade career thirty five years in the business of which I took a rather brief five year detour into the nonprofit area managing the university of Virginia endowment, and it differs in a number of ways probably the. Most interesting to an outsider is the access that one gains to elite investment managers how big was the endowment at the time. Over five billion. Okay. So that's real money. I think interestingly, though, it's less challenging it's an easier job. I'm so surprised you say that, and maybe this is me projecting. But I would imagine that running an endowment, and my frame of reference is all the craziness, we've seen with the Harvard endowment over the past twenty years, and what recently happened with the Ellen dominant Swanson. I would imagine there are so many political constituencies to deal with, it would be a huge distraction or at Jinnah Teke. We not seeing that sort of Cambridge craziness. So. Point of clarification, I was the CIO at the university of Virginia though. My alma mater, is Virginia Tech shit so serve on the investment committee at Virginia Tech as well. So there's an had one daughter that went to UVA one daughter, the Virginia Tech, so I have loyalties with both schools so so to clarify aside. Clearly misspoke. You were the CIO at the Virginia. University of Virginia endowment and that covered what school or schools UVA. This is just one endowment five billion dollars. Actually fascinating Lee enough. It's much more complicated than that. The university of Virginia has dozens of nonprofit organizations, all of whom have their own fundraising staff, their own endowments, and the university of Virginia investment management company, may five oh, one three c nonprofit Craciun with its own board and its own audit its own charter at cetera. Serves as an investment advisor to those various pools of money. So in many ways, while I was there, I did have to address many different clients, and it is very political. You're quite correct about that. Do they all invest the same way or just each of them have different investment philosophy in an a different set of goals, and therefore a different portfolio? Look, you've the university of Virginia investment management company pools, the money and invested in one fashion that said all of the different pools of money don't have to invest with the university of Virginia investment management company. They can if they choose or they cannot, or they can invest part of the money for many years, the law school, wasn't convinced that it wanted all of its money in the in the pool. So just part of the.

Virginia Tech university of Virginia university of Virginia endowme CIO chief investment officer Brinson partners Chris Brightman Virginia Bloomberg dean Barry ritholtz Gary Brinson liberal arts school school of business Chicago UBS Jinnah Teke director
"brinson partners" Discussed on KBOI 670AM

KBOI 670AM

01:30 min | 2 years ago

"brinson partners" Discussed on KBOI 670AM

"Roughest purest form to the finished masterpiece resat into her engagement ramp every gia certified chosen diamond is handselected cut and polished exclusively by jared extra never leaving our hands until it gets to hers and after your proposed your chosen diamond comes with a commemorative handstitched keepsake book of photographs he'll both treasure forever chosen by cheering though one diamond as uniquely amazing has her available only one place that's why he went to jarrett progressive presents yet tops install wish to help you to ensure it tough i'll carry turned out your budget be the boss of you take control the progressive name your price tool tell us what you want to pay for car insurance and we'll help you find options to fit your budget here's a music to get you pulled down down down down gained i i hear your budget laughing at you oh wait that's just those kids laughing at me hang on democracy casualty insurance company and affiliates brinson partners ltd but state law chris malkin here for my hearing centers talking about their latest technology signature an ax my hearing centers are looking for people to test drive the best sounding most convenient hearing aids ever using revolutionary dual processors cigna annex has the most advanced sounds skate processing in the industry giving you superior speech understanding especially in noise to participate you must call two zero eight six three nine two zero one eight.

jared jarrett brinson partners ltd chris malkin
"brinson partners" Discussed on WLS-AM 890

WLS-AM 890

02:05 min | 2 years ago

"brinson partners" Discussed on WLS-AM 890

"At you oh wait that's just those kids laughing at me hang on them did jon allen congress eventually insurance company and affiliates brinson partners ltd by state law zohbi law coming to the eu lending inner thursday evening 26 wlsam 890 is giving you more than a of rare diseases show is in thursday morning to john in rebel ray musty bolshoi thursday afternoon furnished by live nation and wlsam 890 i have never had shark fin soup no i've eaten shark before have you here it's not that it's alright in ah where'd you need it a were you in hawaii or something it sounds like california okay hella forty we used to catch sharks and then we would need him sometimes seems tell me about this he catches shark smile yours your fishing lying in the ill deepsea fishing and you get us a shark instead of a fit so you're of vichyrun into deepsea boats stevia in the water working for him the bate the cut herself a get outta wrote a letter bleed son no you'd be fish in for i don't know you know tuna or something and then you'd get a it get a shark on how long how big of a shark a pretty big three feet four or five feet some pretty bennour able to wrestle that thing inside the boat well not just me i mean but yeah yeah here here my dad was there mr gaskin mr grandes gaskin sure sure his boat the care act named after his kids karen and jack kay rarick the need for leyla shark or what are you just eat uh yeah you th that gave i think i believe it was like a makeover shark maybe and know people each shark so when you bring the shark aboard the crago the jayco what's ago the correct the correct karen and.

ray hawaii karen jon allen brinson partners ltd eu john california jack kay three feet five feet
"brinson partners" Discussed on Sports Talk 1050 WTKA

Sports Talk 1050 WTKA

02:05 min | 2 years ago

"brinson partners" Discussed on Sports Talk 1050 WTKA

"Ninety seven eight your safety could depend on it progressive presents yet taument inspiration to help you do ensured stuff okay time out that your budget be the boss of you take control with progressive name your price tool tell us what you want to pay for car insurance and we'll help you find options to fit your budget here's a music to get you boobed founded on the dow down i hear your budget laughing at you oh wait that's just those kids laughing at me hey get aggressive casualty insurance company and affiliates brinson partners ltd by state law now bono keeping it simple is usually a good thing when it comes to rewards programs keeping it simple is always a good thing that's why we made the knepper rewards program effortless all you need is your phone number to start saving on the parts and tools you need then we automatically give you five dollars off your next purchase for every hundred despaired so start saving today with nap rewards quality parts helpful people that's napa know how at progressive we think your floor boutique is the bee's knees in fact it's all the bee's knees every hive of bees an all the trees from here to believe span pollees everyone agrees you deserve the expertise of progress of business insurance with over four years of experience helping busy bees and their knees glide with like a gentle breeze so whether you're worker be a queen or none of these was over progressive commercial dot com please faster than abe's knees as he politics the leaves a three trees kelly insurance inflates do you have sleep apnea are you tired of dragging your big bulky cpap device with you whenever you leave home here while i was too that's why i'm so glad i called the try the transcend mini cpap for ten nights i can't imagine living without it now my transcend is about as small as a soda can and weighs less than a pound that's less hassle the carry than my shaving kit plus i was able to add a battery pack that's as tiny as a deck of cards but hey that's not all transcend is faa compliant too which means i.

napa brinson partners ltd abe faa five dollars four years
"brinson partners" Discussed on GSMC Football Podcast

GSMC Football Podcast

01:31 min | 2 years ago

"brinson partners" Discussed on GSMC Football Podcast

"Boom israel wait the lights are back additive to kenya and now it's completely dark progressive casualty insurance company and affiliates pricing coverage match limited by state law progressive presents problems inspiration to help you do insurance dov okay turned out your budget be the boss of you take control would progressive name your price tool tell us why you want to pay for car insurance and we'll help you find options that that your budget here's the music to get you boobed got out and did on the dow down i hear your budget laughing at you oh wait that's just those kids laughing at me ignore them denounded progressive casualty insurance company and affiliates brinson partners ltd by state law are you looking for help with your fantasy football team check out the gsm see fantasy football podcast gets in east best advice on who to start congress it even who you should draft from sleeper pay extolled red hot lineups they got it all cover for you that's gsm see podcast dot com back slash fantasy dashboard balderdash fogcast will cover traditional bigs dynasty qpr even i impede leagues when you need fantasy help there's just one showed it in off don't forget to like i'm on facebook and follow them on twitter visit gs mc'ing podcast dot com for more info yeah the.

facebook Boom israel kenya brinson partners ltd football twitter
"brinson partners" Discussed on KKOB 770 AM

KKOB 770 AM

01:31 min | 2 years ago

"brinson partners" Discussed on KKOB 770 AM

"Trial call now one eight hundred seven six eight one zero five three again that's one eight hundred seven six eight one zero five three one eight hundred seven six eight one zero five three and to help you do insurance stuff okay turned out to let your budget be the boss of you take control with progressive name your price tool tell us what you want to pay for car insurance and we'll help you find options to fit your budget here's the music to get you proved founded on down down dined i i hear your budget laughing at you oh wait that's just those kids laughing at me i'll get aggressive casualty insurance company and affiliates brinson partners ltd by state law with your mayo clinic radio health minute i'm geoff wholesome when executive chef jan well peru's building an heirloom tomato salad she reaches for fresh basil your best that is gonna be using fresh tip number one when possible use fresh herbs tip number to rehydrate dry herbs before you work them into a dish burn out a little bit of vinegar and some of well well per says the vinegar rehydrate sir dry basil and the oliveoil helps it to cling to what needs seasoning china like season like a chicken breast trying to season and potatoes tip number three if you want your spice to stick make sure it's finally chopped that's a big mistake people make us russia throws rain time said la chop at in this all kind of falls off wilbur uses a sharp knife in some elbow grease to ensure this time sticks to the beach she's roasted dixie at out good even flavorings for every.

insurance company little dish la state law time russia chop executive price zero mayo clinic radio china peru people
"brinson partners" Discussed on WEEI

WEEI

01:39 min | 2 years ago

"brinson partners" Discussed on WEEI

"Like that like o2 all three was he was drafted i'm as long as a little while by john fox was the coach they drafted julius peppers with you on that super bowl teams those oneaustralia but i must men like israel not carry but they were at the they had a they had a really good team to lead the loan or well defensively right away they had peppers and kris jenkins on the same defensive line and then they had all the guys to play for the steve bucknor rows it was at brinson partners i'm saying at a pre pretty good ronnie he has the right martin thea peppers have been around we can russia pass rushers he's got he's one of the best ever six one seven seven seven nine seven 937 eddie's on the cell phone hannity how you doing head guy kawar you know i'm excited at a great time of year we all love october great pomp and our common laboratory last year and if we quick romance i will as i hope that um a failed got a he'll got a really good tomorrow then the wear and i'm afraid it could be wander cracking a weekend of europe boss you can't i'm one of people there i'm really worried about the cratered reason why i'm worried about regatta short week gpif accurate gifts like swiss cheese i don't know how you create cut overnight in even mobile operator requiring while it seems like it currently struggling could get care career to move the ball a little bit gung it's going to be a cocaine comoran aggregate they went comoran i'd made maybe it'll factor turn around i'm worried or not and i'm with you i'm with your roddick who guide beer gear i think the patriots and on a little.

john fox julius peppers brinson partners ronnie thea peppers roddick patriots o2 super bowl israel kris jenkins russia europe cocaine
"brinson partners" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:13 min | 3 years ago

"brinson partners" Discussed on Bloomberg Radio New York

"And that has served me extremely well that training with gary brinson and brinson partners lent to bernstein and because like me they were still believers that value investing woodwork someday he was the fifth person in the history of bernstein to be brought in as a partner and shortly after i joined six months later the firm was sold to alliance capital in that sixmonth period i had worked very closely with lou sanders and maryland feedback who are of course some of the greatest value equity investors of all time and upon that then that transaction happened i said i did not come here to join alliance i really wanted to stay with bernstein and i was first related to join the equity team and so it's a very unorthodox move from fixed income to equities less unorthodox than you would imagine on the research side a lot of the best equity researchers i know all started out as fixedincome research researcher i like to think that once you if you had your fundamental chaining and fixed income you under dan capitals capital structure you understand term struck karen you understand risk and a pharma granular level than most equity in absolutely absolutely and so that the next five years of my life were terrific i loved equity investing if he can remember that time two thousand to two thousand and for all of the darlings of the you'll market became value opportunities and so i commend disley enjoyed and think back fondly to my time in the value equities team at bernstein her so you eventually brize to chief investment officer of alliance bernstein what was that life so this was the hunter name billion dollar retailed mutual mind division dad bernstein he actually inherited it was an alliance capital business and we i joined it at a very troubled time in its history liu sanders the ceo of burns he had just ask the top ten people to leave the firm in the wake of an sec settlement and a crisis and this was a transformation at what was needed was to completely fundamentally rethink the firm's approach to.

bernstein partner lou sanders researcher disley chief investment officer ceo gary brinson brinson partners maryland karen billion dollar five years six months sixmonth
"brinson partners" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:16 min | 3 years ago

"brinson partners" Discussed on Bloomberg Radio New York

"Jumping into things that were about on their backs as cheap as they could get being a problem solver and eventually being asked to run the team in the mid to late 90s let's move to sanford bernstein which eventually became ally hi it's burns thing you they're pretty much in the beginning of the financial crisis weren't you i was there when value was in it's not the air ninety eight ninety nine and no one was a value investor member people were actually saying oh this warren buffett guy he's lost it absolutely value investing is dead that was the headline and having been a value investor her and fixed income on my life and by the way 96 while i was at ubs the firm was bought by swiss bank and gary brinson came into my life and legendary value investor and a thinker abide global asset allocation and that has served me extremely well that training with gerry brinson and brinson partners went to bernstein the guys like me they were still believers that value investing woodwork someday was the fifth person in the history of bernstein to be brought in as a partner and shortly after i joined six months later the firm was sold to alliance capital in that sixmonth period i had worked very closely with lou sanders and maryland feedback who are of course some of the greatest value equity investors of all time and upon that than that guns action happened i said i did not come here to join alliance i really wanted to stay with bernstein and i was first related to join the equity team and so it's a very unorthodox move from fixed income to equities lesson unorthodox than you would imagine on the research side a lot of the best equity researchers i know all started out as fixedincome research researcher gina i like to think that once he if you had your fundamental chaining and fixed income you under dan capitals struck jerry you understand term struck karen you understand risk and a pharma granular level than most equity in absolutely absolutely and so that the next five years of my life were terrific i loved equity investing if he can remember that time two thousand to two thousand and for all of the darlings of the high yield market became value opportunities and sell i commend this sleep enjoyed and think back fondly.

financial crisis swiss bank gary brinson brinson partners partner lou sanders dan capitals jerry sanford bernstein warren buffett gerry brinson maryland researcher karen five years six months sixmonth
"brinson partners" Discussed on Wall Street Business Network AM 760

Wall Street Business Network AM 760

02:35 min | 3 years ago

"brinson partners" Discussed on Wall Street Business Network AM 760

"And i think our abide global asset allocation and that has served me extremely loud that training with gerry brinson and brinson partners lent to burn seen because like need they were still believers that value investing woodwork someday he was the fifth person in the history of bernstein to be brought in as a partner and shortly after i joined six months later the firm was sold to alliance capital in that sixmonth period i had worked very closely with lou sanders and maryland she dak who are of course some of the greatest value equity investors of all time and upon that then that guns action happened i said i did not come here to join alliance i really wanted to stay with bernstein and i was first isolated to join the equity team and so it's a very unorthodox move from fixed income to equities less unorthodox than you would imagine on the research side a lot of the best equity research is i know all started out as fixedincome research researchers you know i think that once he if you had your fundamental chaining and fixed income you under dan capitals struck carry you understand term struck karen you understand risk and formal granular level than most equity in absolutely absolutely and so that the next five years of my life work terrific i loved equity investing if he can remember that time two thousand to two thousand and for all of the darlings of the hi yelled market became value opportunities and so i can mendaciously enjoyed and think back fondly to my time in the value equities team at bernstein so you eventually brize to chief investment officer of aligns bernstein what was that like so this was the 100 and a billion dollar retailed michel mind division and dad bernstein he actually inherited it was an alliance capital business and we i joined it at a very troubled time in its history lou sanders this era of bernstein had just ask the top ten people to leave the firm in the wake of nfcc settlement and a crisis and this was a transformation what was needed was to completely fundamentally rethink the firm's approach to the retail investor and what i really started to it was how do we tell investors behaved lee embraced the work of the darrelle economists like daniel komen who had always been a very big influence on the bernstein value investing philosophy so the idea of.

brinson partners bernstein partner lou sanders maryland equity research dan capitals chief investment officer lee daniel komen gerry brinson karen nfcc billion dollar five years six months sixmonth
"brinson partners" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:15 min | 3 years ago

"brinson partners" Discussed on Bloomberg Radio New York

"Jumping into things that were about on their backs as cheap as they could get being a problem solver and eventually being asked to run the team in the mid to late 90s let's move to sanford seed bernstein which eventually became ally it's bernstein you they're pretty much in the beginning of the financial crisis weren't you i was there when value was en it's now ninety eight ninety 99 and no one was a value investor remember people were actually saying oh this warren buffett guy he's lost it absolutely value investing is dead that was the headline and having been a value investor fixed income on my life and by the way 96 while i was at ubs the firm was bought by swiss bank and gary brinson came into my life and legendary value investor and i think our about global asset allocation and that has served me extremely well that training gary brinson in brinson partners lent to burn seen because like me they were still believers that value investing woodwork someday he was the fifth person in the history of bernstein to be brought in as a partner and shortly after i joined six months later the firm was sold to alliance capital in that sixmonth period i had worked very closely with lucy sanders and maryland feedback who are of course some of the greatest value equity investors of all time and upon that then that guns action happened i said i did not come here to join alliance i really wanted to see with bernstein and i was first related to join the acquis team and so it's a very unorthodox move from fixed income to equities lesson unorthodox than you would imagine on the research side a lot of the best equity research is i know all started out as fixedincome research researcher you know i like to think that once he if you had your fundamental chaining and fixed income you understand capitals struck jerry you understand term struck jerian you understand risk and our pharma granular level than most equity in absolutely absolutely and so that the next five years of my life were terrific i loved equity investing if he can remember that time two thousand to two thousand and for all of the darling of the highyield market became value opportunities and so i commend this sleep enjoyed.

financial crisis swiss bank gary brinson brinson partners bernstein partner lucy sanders equity research researcher sanford warren buffett maryland jerry five years six months sixmonth