“We made like a golden Band-Aid and we give people to that. It's like they put it on their desk as a golden Band-Aid for fixing paper cuts.”
JW
Josh Woodward
Lenny's Podcast: Product | Career | Growth ·
Ontario Teachers Pension Plan · Capital Allocators - Inside the Institutional Investment Industry · Building the Total Portfolio at Ontario Teachers - Stephen McLennan
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Moved from a rigid reference-portfolio weight (e.g., 60% equities, 40% fixed income) to flexible asset-mix bands
“We made like a golden Band-Aid and we give people to that. It's like they put it on their desk as a golden Band-Aid for fixing paper cuts.”
“When yields continued down to almost zero… expected return for fixed income is low… we reduced fixed income exposure.”
“About 20% ... dehumanize ... gone up to about 40%; 40% ... call evil ... gone up to 60%; 60% ... threat ... now about 80%”
“The AAA protocol essentially is… analyze, authenticate and then act… take a breath… move back into analytical thinking… out-of-band verification”
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