Will England, Derek Drummond, and Tony Caruso – Disintermediating Pod Shops (EP.501)
Episode publishedPodcast: Capital Allocators – Inside th...Capital Allocators – Inside the Institutional Investment Industry
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Intramonth volatility is a lot higher than you think. If you get one month snapshots and then you get to see the ride throughout the month, it can be a very different story.
Derek and I have joked before, you learn more about manager of three days on Doc's side than three years if you invested in a fund. You understand what they do, what their portfolio looks like, how it evolves. It's incredible.
When you see what they're buying and selling every day, we're in the business of buying serial good decision makers. And sometimes I joke that my job is playing fantasy football. You're trying to find the best athlete, put them in the right position. Hopefully, they all march down the field. Watching how they trade in a drawdown, you can see it. You can make much more informed decisions about the people that you're putting on the field.
I'm Ted Seides, and this is Capital Allocators. Today's show discusses an innovative joint venture between asset owners and a multi manager hedge fund that seeks to deliver smooth equity like returns at a lower cost than available in the marketplace. My guests are Will England, Derek Drummond, and Tony Caruso. Will is the CEO and CIO of $12,000,000,000 multi strategy hedge fund Walleye Capital. Derek is head of external public markets investing at the State of Wisconsin Investment Board, and Tony is managing director of hedge funds at UTEmco. Together, they co founded Dockside, a managed accou
Thanks for having us.
Thanks for having us.
Thank you.
It probably makes sense to start with a little bit of a background on each of your seats and how this Dockside platform fits into that. Derek, why don't you kick it off?
Here at the state of Wisconsin, we run about half of our assets internally and then half of our assets externally. I head up the team where we allocate the capital to external managers in the public space. We're trying to find managers where we can't manage those assets with either the team or the strategy or the region of the world internally. A lot more of the hedge fund strategies, a lot more of the emerging markets, how Dockside comes into the whole fray is is your platform for us to be able to be a lot more dynamic about our allocations, to be able to target our risk a lot better, access
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