New Paradigm of Investing: An FOA Podcast with Ashby Monk

New Paradigm of Investing: An FOA Podcast with Ashby Monk

New Paradigm of Investing with Angelo J. Robles

In Part 12 of the FOA Podcast Audio Series, Angelo J. Robles is joined by Ashby Monk as they discuss new paradigm of investing. You can either read the transcription or listen to the podcast and learn more.

Transcript Preview:

Angelo Robles: Hello everyone this is Angelo Robles at Family Office Association. Welcome today to our FOA Audio Podcast featuring Dr. Ashby Monk. We are incredibly fortunate to have Dr. Monk who is an incredible thought leader in the community of investing and how it is effectively a new paradigm now than it was even a few short years ago. I am going to start by outlining Dr. Monk’s bio and then we will transition directly into our questions.

Dr. Ashby Monk is the Executive and Research Director of the Stanford Global Project Center. He is also a Senior Research Associate at the University of Oxford and a Senior Advisor to the Chief Investment Officer of the University of California. Dr. Monk has a strong track record of academic and industry publications. He was named by aiCIO Magazine as one of the most influential academics in the institutional investing world. His research and writing has been featured in The Economist, The New York Times, Wall Street Journal, Financial Times, Institutional Investor Reuters, Forbes, and National Public Radio among other media. His current research is the focus on design and governance of institutional investors with particular specialization in pension and sovereign wealth funds. He received his Doctorate in Economics and Geography at Oxford University and holds a Masters in International Economics from the University De Paris Sorbonne and a Bachelors in Economics from Princeton University. Ashby welcome!

Ashby Monk: Thanks Angelo! Happy to be here.

Angelo: Our pleasure. So, some may be wondering listening in, I used the word institutional investor a couple of times and of course FOA is focused on the single-family office community and there is a different perspective and obviously, the tax picture would be totally different. But it is my opinion and I am sure you are all going to agree after this call, that everything that Ashby Monk says is absolutely also applicable to families of great wealth and single family offices. I think the insight from someone in the institutional and sovereign wealth world will be wonderful for our audience.

Let us get right to it Ashby. People, process (governance), and information, why are those three things so – and how  is technology changing everything?

Ashby: That is, people, process, and information. I suspect Angelo you have read one or two of my academic papers because those three factors I list in a paper as the key inputs in a production function of institutional investment. You take a stack of money. You add people. You add process and you add  information and if all is well, you end up with more money at the end of it. So, if you are going to reduce this business that we are in to three core factors, I would say that is it. So, I do not think there is anything more important than people, process, and information in the business of investment.

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