Investment Strategies of the Superrich w/ Adam Shapiro (RWH048)

William Green chats with Adam Shapiro, Managing Partner at East Rock Capital. Adam oversees billions on behalf of eight vastly rich families, allocating their assets to everything from hedge funds to private equity. Here, he explains how to build & safeguard wealth over the long term; how he identifies the best fund managers; why he’s wary of index funds & ETFs; & how to thrive by building a powerful network & removing excess “filler” from your portfolio & your life.

IN THIS EPISODE, YOU’LL LEARN
00:00:00 - Intro
00:05:27 - Why Adam Shapiro stopped investing in emerging markets. 
00:09:02 - Why the U.S. is a great—but potentially perilous—place to invest. 
00:18:44 - What he learned at Goldman Sachs about intelligent investing. 
00:39:16 - How he identifies fund managers who are likely to outperform.
00:42:52 - Why he favors small funds run by young & hungry investors.
00:46:08 - What human qualities lead to investment success.
00:56:20 - How Adam built an investing edge through networking.
01:15:43 - How to reduce your risk & ensure survival in extreme conditions.
01:20:34 - Why Adam is wary of index funds & ETFs.
01:25:07 - How David Swensen’s Yale Endowment Model can be updated.
01:29:34 - Why his #1 financial rule is “never, ever run out of liquidity.” 
01:42:16 - Why firms like Millennium & Citadel may be riskier than they seem.
01:54:09 - How to improve your portfolio & life by subtracting excess “filler.”

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On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.

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[WeStudyBillionaires]

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[CharlesHermite-lx]

The advantage behind ETF is its low volatility due to its basket of stocks from 3x/2x as per stock to less than 1x as a whole. Also if you combine multiple asset class as stock would only account for specific percentage of a whole, it would be achievable to not only lower the volatility but also the beta value to endure and mitigate the unpredictable systematic and unsystematic risk with controllable drawdown.

[SkepticButOptimist]

Adam makes me want to apply to Columbia for an MBA

[MTXSHOvVSHO]

52:20 ABSOLUTELY!!! Herein lies why I, as a retailer investor must go it alone as the world crosses into the 4th Industrial Revolution. Once my net worth surpasses $3, 000, 000 I'm changing my number not everyone will get a call. People CANNOT BE HELPED.

[mattp]

the immigration discussion misses the point completely.... the host asked what he thought of immigration... that's not the issue at all. few people doubt the benefit of legal immigration...it's open borders that is the real debate... it would have been interesting to discuss that