Misinterpreting Illiquidity
Ted discusses common misconceptions surrounding the Yale model, particularly the notion that David favored illiquidity. He clarifies that illiquidity is a necessary trade-off for achieving diversification, not a preference. Additionally, he questions the current appeal of private equity, suggesting that the market's inefficiencies have changed since David's time, leading to potentially misguided investment strategies.In this clip
From this podcast
Capital Allocators – Inside the Institutional Investment Industry
Ted Seides – Unlocking Investment Wisdom (EP.352)
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