5 episodes

Accomplished investors share their stories, mental models, and what market factors they’re paying attention to today. Host Andrea Gentilini of Novus unpacks what has helped them and hindered them on their diverse roads to success.
Modeled after the values of Novus industry research, this is where managers and allocators alike tune in for engaging discussions on how to succeed in the investment world.

Successful Investors Novus

    • Investing

Accomplished investors share their stories, mental models, and what market factors they’re paying attention to today. Host Andrea Gentilini of Novus unpacks what has helped them and hindered them on their diverse roads to success.
Modeled after the values of Novus industry research, this is where managers and allocators alike tune in for engaging discussions on how to succeed in the investment world.

    Chris Dale (Kintbury) “Math and Philosophy”

    Chris Dale (Kintbury) “Math and Philosophy”

    Chris Dale is the founder, CIO, and portfolio manager at Kintbury Capital.

    Chris attended Cambridge to study math, but eventually earned his degree in philosophy. After school, Chris worked at S.G. Warburg in corporate finance. He eventually migrated to Warburg's equity division, where Chris cultivated his passion for markets and investing. Next, he moved to Millennium Capital Partners, at the time a $2.5 billion dollar fund.

    After nine years at Millennium running a market-neutral strategy, Chris started his own fund, Kintbury, motivated by his fascination for European equities.

    In this episode, we hear about Chris’s perception of market bubbles, as well as the valuable role that both math and philosophy played in shaping his approach to markets. Chris shares his personal metrics for determining when to sell, and also explains his ideology around tracking performance on a long-term basis.

    "The challenge is always asking yourself, if it wasn't in the portfolio, would you be putting it in today?" —Chris Dale

    Chris values inquisitiveness, which has served him well throughout his career. It turns out that math, philosophy, and investing all have the following in common: to succeed, you must truly understand and dissect your assumptions.

    • 49 min
    Dan Waters (Northern Trace) "The Talent Portfolio"

    Dan Waters (Northern Trace) "The Talent Portfolio"

    [Revised] Dan Waters is co-managing partner at Northern Trace, a commodity hedge fund. During his long career on Wall Street, Dan ascended to co-lead FrontPoint (along with Mike Kelly) in 2006. Shortly after, FrontPoint grew to be one of the world’s largest hedge funds, and was ultimately acquired by Morgan Stanley.

    Managing a portfolio is challenging. Investing at a large scale adds yet another complexity: managing talent. Like a portfolio, talent requires active management. Losers must be moved out, and winners must be scaled up. The difference is, of course, you’re making these decisions about people, not just securities, and that raises the emotional stakes.

    Dan insists that emotions are very important—you can't neglect them—but certain emotions can cloud judgement. Dan Waters is an exemplar of steady leadership (including during difficult periods), and he’s become adept at balancing his emotions so they don’t obscure his view of a situation.

    Dan’s thoughts on leadership are universally insightful, no matter your role or focus. He tells us the three simple questions he asks every prospective manager (24:18), and he discusses tactics for inviting people to improve (20:40). In this episode, Dan also provides us with a succinct thesis for leadership, “The best leadership comes from just doing what you're expecting of others yourself”(11:30).

    • 1 hr 7 min
    Jennifer Oppold (Alpine Peaks) "Intellectual Honesty"

    Jennifer Oppold (Alpine Peaks) "Intellectual Honesty"

    While working for McKinsey & Company, Jennifer Oppold developed a passion for discovering what makes companies tick. At the same time, she grew frustrated at not being able to ever stay with a problem long enough to see it through, as consultants are required to quickly move on from one assignment to the next.

    With a newly discovered professional calling very clear in her mind, Jennifer left McKinsey to enter a dual J.D./M.B.A. program at Harvard. While there, she spent a summer with Select Equity, a firm investing in small- and mid-cap companies with a value tilt. It was love at first sight.

    At Select Equity, Jennifer started working with George Loening, the firm’s founder, who would become her most influential mentor. Under George, Jennifer learned the art of shorting, as well as how to wait for the “value moment.”

    About two years ago, Jennifer launched her own firm, Alpine Peaks, where Select Equity’s legacy of intellectual honestly and personal mentorship lives on—now with Jennifer’s touch.

    Hearing Jennifer’s story, we get to witness firsthand how the power of intellectual honesty creates an investment edge. Key to her success, she says, is diligence in writing down her assumptions.

    Anyone can talk about intellectual honesty, but Jennifer lives and breathes it. Those who seek to make a career on the buy side (and truly, investors of all stripes) can learn much from Jennifer Oppold’s journey.

    • 44 min
    Jud Reis (Sire) "The Risk of Not Taking Risk"

    Jud Reis (Sire) "The Risk of Not Taking Risk"

    Judson Reis is president and founder of Sire Management. Over half a century ago, Jud started at Morgan Stanley in New York. While there, he played a leading role in the largest takeover in American history of the time: Dupont’s acquisition of Conoco.

    Later, Jud was fortunate enough to become friendly with and invest with Julian Robertson. He’s also invested with Stan Druckenmiller and other legends. By investing in hedge funds and being forced to endure multi-year lock-ups, Jud learned that talented managers, given enough time, will sort things out and generate outsized returns.

    If you feel discouraged about declining returns, consensus trades, excessive diversification, and other gloomy statements of this kind, you’ll find this conversation a healthy boost of contrarian confidence. Outsized returns are still out there. And the talented managers generating them exist too. You simply have to know where and how to look. And you have to be willing to take the right risks.

    To measure whether you are taking the right kinds of risk in your portfolio, and to perform in-depth research on managers, check out novus.com.

    • 50 min
    Welcome to Successful Investors

    Welcome to Successful Investors

    Host Andrea Gentilini of Novus introduces himself and the podcast. The value of mentorship in the investment world cannot be overstated, and we hope that “Successful Investors” can serve as a mentorship program for investors everywhere who are interested in refining their craft.

    • 5 min

Customer Reviews

Slot King 48619 ,

Nobody knows the subject matter better

Very excited to listen to this as the season progresses. Novus is very knowledgeable in this space. Interested to see what guests they bring on.

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