Today’s guest is Steve Edmundson, the Chief Investment Officer of the Public Employees’ Retirement System of Nevada, which manages over $60 billion.
As pension funds continue to hire more employees, pay more and more fees and build more complex portfolios, Steve is an outlier for his approach that emphasizes simplicity over complexity. He’s one of two investment professionals on staff and has indexed 100% of all publicly traded asset classes. I love it!
Steve talks about the culture that allows this model to work and shares some thoughts on the rise of private markets and the impact of higher interest rates.
The late Jack Bogle had a quote that applies well to Steve & Nevada PERS: “Don’t do something, just stand there!”
-----
Follow Meb on Twitter, LinkedIn and YouTube
For detailed show notes, click here
To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com
-----
Sponsor: Today's episode is sponsored by YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Visit YCharts to start your free trial and be sure to mention "Meb" for 20% off your subscription (new clients only). Read their 2024 Advisor-Client Communication Survey
Sponsor: Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here.
Follow The Idea Farm: Twitter | LinkedIn | Instagram | Tik Tok
-----
Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com
-----
Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.
-----
Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!
Learn more about your ad choices. Visit megaphone.fm/adchoices
Scott Lynn & Masha Golovina, Masterworks – The World's Largest Art Buyer on Inflation, NFT's & Reaching Unicorn Status | #388
Whitney Baker, Totem Macro – How To Play A Once-In-A-Generation Opportunity in Emerging Markets | #387
John Arnold – Why The Greatest Natural Gas Trader Walked Away To Pursue Philanthropy | #386
Startup Series – Jeff Shaw, Underground Cellar - Disrupting E-Commerce Wine Sales Through Gamification | #385
Robert Cantwell, Upholdings - The Man Behind The First Hedge Fund to ETF Conversion | #384
Mike Dudas, 6th Man Ventures – Investing in Web3 & The Metaverse While Launching LinksDAO | #383
Dan Zwirn, Arena Investors - A Stoic Approach to Investing | #382
Leonard Mlodinow - How To Harness Your Emotions To Become A Better Investor | #381
Top Podcasts of 2021 – Replay: Jeremy Grantham, Chris Cole, Jeff Seder | #380
The Best Investment Writing Volume 5: Selected Writing from Prominent Investors and Authors
Peter Livingston, Unpopular Ventures - The Best VC’s Actually Have A Lower Batting Average But A High Slugging Percentage | #379
Cullen Roche, Discipline Funds - QE Is Not As Powerful As A Lot Of People Like To Think It Is | #378
Garrott McClintock, AcreTrader - Live From The 2021 Farmland Investing Summit! | #377
Jason Wenk, Altruist - How To Make Financial Advice Better, More Affordable & Accessible To Everybody | #376
The Best Investment Writing Volume 5: Dan Rasmussen, Verdad Advisers – Crisis Investing: How To Maximize Return During Market Panics
Jonathan Fell, Ash Park Capital - People Always Overestimate The Extent To Which Tobacco Is A Dying Business | #375
Phil Huber, Savant Wealth Management - Expected Returns For That Classic 60/40 Stock Bond Mix Is Significantly Lower Today Than It Has Been In Recent Past | #374
Tim Maloney, Roundhill Investments – We Hit The Right Theme At The Right Time | #373
Chas Cocke, LB Partners – There Are Lots of Great Businesses…The Hard Part Is Finding Them At A Really Good Price | #372
The Best Investment Writing Volume 5: Laurence Siegel, CFA Institute Research Foundation - Debunking Nine and a Half Myths of Investing
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Dubai Property Podcast
IBKR Podcasts
The Ramsey Show
The Clark Howard Podcast