My guest this week is David Salem. David was the founding president and CIO for The Investment Fund for Foundations, which served 800 endowed charities under David’s 18-year tenure. He’s now the CIO of the Windhorse Group, which focuses on long-term, value-oriented investing.
This conversation wanders into and explores many different areas of investing and life. The theme is how to think about asset allocation and investing holistically–from first principles–but we talk a lot about motivation, incentives, human behavior, and the fear of missing out as key variables in money management.
We discuss the history of the Yale and Harvard endowment models and how their success has affected the asset management world for better or worse.
I also can’t stop thinking about David’s “Mt. Everest” question, which we explore early in our conversation. I’d love to hear your answers to that question, so email me or message me with your thoughts.