Invest Like the Best with Patrick O’Shaughnessy
Business:Investing
My guest today is Erik Serrano Berntsen. Erik is the CEO of Stable Asset Management, which he started 14 years ago in his early 20s and has scaled to over $3 billion in AUM. Unusually, Stable’s strategy focuses on other investing firms. They look to back the Blackstone's of tomorrow and provide those founders with capital and support so their time is spent doing what they do best, which is typically investing. We discuss the commonalities among promising founders in this sector, how Stable serves as a full resource to their companies, and some harsh truths learned from building an investing business. Please enjoy my conversation with Erik Serrano Berntsen.
Listen to Founders Podcast
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
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Show Notes
(00:03:33) - (First question) Exploring the allure of investing in investment firms
(00:08:20) - Discussing the scarcity of investors in investment firms
(00:18:20) - Strategies for generating returns for investors
(00:22:50) - Analyzing risk/return dynamics in portfolios
(00:26:26) - Unveiling surprising insights from Project Legends
(00:29:56) - Characterizing the ideal General Partner (GP)
(00:37:23) - Identifying red flags in GPs' practices
(00:44:10) - Viewing investment strategies as marketable products
(00:52:52) - Delving into the emotional aspects of investing
(01:01:57) - Tracing the lifecycle of an investment firm
(01:13:04) - Offering guidance to aspiring young investors
(01:18:24) - Reflecting on the notion that ‘nice people finish last’
(01:23:52) - The kindest thing anyone has ever done for him
John Harris - Resilience and Imagination - [Invest Like the Best, EP. 230]
Florian Hagenbuch and Mate Pencz - Everything Will Be Bought Online – [Founder’s Field Guide, EP. 37]
Gabriel Leydon - Designing Digital Economies - [Invest Like the Best, EP. 229]
Assaf Wand - Innovation in Static Industries – [Founder’s Field Guide, EP. 36]
Dennis Lynch - Delivering Alpha in Adapting Markets - [Invest Like the Best, EP. 228]
Henrique Dubugras - Building the Financial Center of Gravity – [Founder’s Field Guide, EP. 35]
Justin Fishner-Wolfson - Secondary Investing in Private Markets - [Invest Like the Best, EP. 227]
Peter Reinhardt - Learning How to Sell – [Founder’s Field Guide, EP. 34]
Brent Beshore - Learnings from a Year of Unexpected Events - [Invest Like the Best, EP. 226]
Jeremy Cai - Manufacturer to Customer – [Founder’s Field Guide, EP. 33]
Eli Dourado - Frontiers for Productivity - [Invest Like the Best, EP. 225]
James Reinhart – Lessons in Process Power – [Founder’s Field Guide, EP. 32]
Andrew Sugrue - Investing in Paradigm Shifts - [Invest Like the Best, EP. 224]
Alyssa Ravasio - Supply, Demand, and the Outdoors - [Founder’s Field Guide, EP. 31]
Josh Buckley - Identifying Legendary Start-ups - [Invest Like the Best, EP. 223]
Thomas Tull - New Physics of Business - [Founder’s Field Guide, EP. 30]
Paul Enright - The Buy Side Primer - [Invest Like the Best, EP. 222]
Trevor McFedries - Building Web 3.0 - [Founder’s Field Guide, EP. 29]
Chris Dixon - The Potential of Blockchain Technology - [Invest Like the Best, EP. 221]
Shopify: The E-commerce On-Ramp - [Business Breakdowns, EP. 01]
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