Manager Selection: Observations & Lessons Learned
Manager Selection: Observations & Lessons Learned
Jeffrey Heisler, CFA
Senior Director TwinFocus Capital Partners
#GIPS15
Topics
Page 2
Due Diligence Process Manager Experience On-site Visits Transparency PM Investment Lessons Learned
Introduction
? Manager Selection
? Combines Quantitative and Qualitative Analysis ? Investment and Operational Due Diligence
? But is also idiosyncratic, there is no right way
? Decision-maker's Philosophy ? Decision-maker's Experience
? Personal Observation & Lessons
? Reinforce key objectives of due diligence process ? Highlight limitations
Page 3
Due Diligence Process
The goal of due diligence is to gain sufficient confidence that the manager's track record is real and representative of the returns expected to be realized.
? Would your process pass your process?
? Repeatable? ? Philosophy, Process & Personnel
? Awareness of biases
? Representativeness ? Availability ? Constraints
Page 4
Manager Experience
"Character is not made by crisis. It is only exhibited."
? Robert Freeman
? Not all experience is equal
? Event risk ? Risk management discipline ? Business risk ? Liquidity risk
? Suggests that tenure and fund size are necessary but insufficient considerations
Page 5
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- solar power adsorption ice maker system
- vehicle activated speed signs messagemaker displays
- securities and exchange commission
- modelmaker mmdx mmcx handheld scanners mcax
- manager selection observations lessons learned
- mid michigan district health department
- mmd technical specs indoor and outdoor led messagr
- model dl amazon web services
- quality ieps plaafp to goal writing
- mmd eng 1007 metris 3d
Related searches
- learned a great deal synonym
- is evil learned or inherent
- martin seligman learned helplessness dogs
- learned helplessness study seligman
- learned a great deal
- martin seligman learned helplessness
- learned helplessness experiment dogs
- another word for learned behavior
- 5 examples of learned behavior
- surface weather observations and reports
- teacher observations of students
- culture is learned and shared