TDI Podcast: Fallacy of Composition (#893)

The Disciplined Investor

Andrew and David discussed the financial industry, focusing on timeless topics and the role of Jeremy Grantham.

In this episode, we also explored the challenges of valuing private equity investments, the importance of having a clear investment strategy, and the impact of government intervention in capital markets. A spirited discussion followed about our contrasting views on China and Japan, and discussed the current state of the economy, particularly focusing on inflation and the actions of the Federal Reserve.

Guest: David Salem – HedgeEye

---

David Salem, Managing Director – Capital Allocation @ Hedgeye

Prior to joining Hedgeye in early 2023, David served as founding President and Chief Investment Officer of The Investment Fund for Foundations (TIFF) and as a partner at GMO, working closely with Jeremy Grantham on investment solutions for large institutional funds.

David received a JD cum laude from Harvard Law School and an MBA with high distinction from Harvard Business School, where he was elected a Baker Scholar. A member of the District of Columbia Bar, David has held adjunct faculty positions at Middlebury College, from which he earned his undergraduate degree summa cum laude, and the University of Virginia, and served in the White House Counsel’s office while enrolled at Harvard.

David’s has given talks at many colleges and universities, including Dartmouth, Duke, Harvard, MIT, Middlebury, Northwestern, and Oxford, and at conferences organized by the Association of Governing Boards, the CFA Institute, the Council on Foundations, the Foundation Financial Officers Group and NACUBO among other organizations.

---

Check this out and find out more at: http://www.interactivebrokers.com/

---

CHARTS DISCUSSED IN THIS EPISODE

Follow @andrewhorowitz

---

Looking for style diversification? More information on the TDI Managed Growth Strategy – HERE

---

Stocks mentioned in this episode: (META), (AAPL), (NVDA), (MSFT)