Getting to know Ted Seides

Welcome to the thirty-fifth Pari Passu newsletter.

This Friday ahead of Labor Day we will have a bit of a lighter post: we will get to know a very familiar person to a lot of you: Ted Seides, the host of famous podcast Capital Allocators.

Introduction

Most recently, Ted Seides appeared on the Masters in Business podcast where he discussed his experience in which he is very notably famous for, where he took on a renowned bet against Warren Buffett to see whether hedge funds could outperform the S&P 500 in the long term. From Ted Seides’ career path to the lessons learned from the bet he took against Warren Buffett, we will learn the wisdom that Ted provided in the podcast that can be well attributed to those interested in investing and wanting to pursue a long career in finance.

Career

Ted Seides is a name that resonates deeply within the investment community. With a career that spans decades, Seides has dedicated the majority of his professional life to the intricate art of capital allocation. His journey began under the mentorship of none other than David Swensen at Yale, a pivotal experience that he often likens to a real-world MBA. For five years, Seides had the privilege of working closely with Swensen, absorbing invaluable insights and honing his skills in the multifaceted realm of investment. David Swensen, for those unfamiliar, is nothing short of a legend. As the Chief Investment Officer of Yale University's endowment fund, Swensen pioneered what is now famously known as the "Yale Model" of investing. This innovative approach emphasizes a diversified portfolio, with a heavy tilt towards alternative assets like hedge funds, private equity, and real assets, rather than traditional stocks and bonds. The model's success under Swensen's leadership has not only yielded impressive returns for Yale but has also influenced numerous institutional investors worldwide. After his enriching stint at Yale, Seides ventured into the world of private equity, seeking to deepen his understanding of business analysis. This pursuit led him to Protégé Partners, where he further explored various avenues of investment, from hedge funds to venture capital. Today, as a key voice at Capital Allocators, Seides passionately discusses the philosophy, art, and science of allocation, drawing from his vast reservoir of experiences and learnings.

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