Understanding the institutional investor framework can help individuals gain him important investment know-how. Structural pieces like the investment policy statement "the plan" and goal setting are tools that can be replicated by individuals.
Troutwood LIVE: Speaker Series
Host: Gene Natali
Guest: Jonathan Brelsford, Senior Vice President of Finance and Investments
Organization: Pittsburgh Foundation
Title: The institutional investor model: Pittsburgh Foundation
Troutwood CEO Gene Natali has a conversation with Jonathan Brelsford, SVP of Finance and Investments for the Pittsburgh Foundation. They unpack the complexity of the institutional investment model and discuss key take-aways for individuals. Jonathan talks about his role at the Pittsburgh Foundation, the path that ultimately led him there (at one point he had plans to be an astronaut), and gives an inside look at the Pittsburgh Foundation and the great work that the organization does.
Learn more about The Pittsburgh Foundation at: https://pittsburghfoundation.org/
Questions:
- How do you balance earning a return on the foundation’s portfolio while also having enough short term funds to pursue the foundation’s activities?
- In a world where investing is becoming more and more and more accessible, are we going to reach a point where it is too accessible? Have we already reached that point?
- Are there any important long-term implications of this rise in retail trading/reddit stocks?
- How do institutions take away some of the emotions of investing that individuals face?
- What is, in your opinion, the most underrated piece of financial advice for young investors?
- What would you say are some of the biggest differences between working for a non-profit organization vs. a for profit business? Which do you prefer?
- In a world where you weren’t in this role, what was plan B?
Please share with a friend and or a family member!
Enjoy!
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⏰ Timestamps ⏰:
0:00 - Countdown
0:07 - Introduction & Welcome
0:50 - About Jonathan & The Pittsburgh Foundation
6:43 - Describing a typical work day
10:32 - How big is the Pittsburgh foundation team?
13:20 - What was the size of the Foundation’s investment portfolio when you first joined?
15:00 - What were your emotions during the 2008 financial crisis?
17:40 - The importance of sticking with your investment plan
18:07 - Spending policy
24:30 - Investing & inflation
27:10 - Non-Profit Investment Governance
34:38 - Portfolio Asset Allocation (How do you balance earning a return on the foundation’s portfolio while also having enough short term funds to pursue the foundation’s activities?)
39:55 - Portfolio allocation timeline
47:10 - What is a custodian?
50:15 - What does your investment consultant do?
53:38 - In a world where investing is becoming more and more and more accessible, are we going to reach a point where it is too accessible? Have we already reached that point?
55:30 - Are there any important long-term implications of this rise in retail trading/reddit stocks?
58:28 - How do institutions take away some of the emotions of investing that individuals face?
01:02:45 - What is, in your opinion, the most underrated piece of financial advice for young investors?
01:04:00 - Albert Einstein “compound interest” quote
01:05:05 - What would you say are some of the biggest differences between working for a non-profit organization vs a for profit business? Which do you prefer?
01:10:11 - In the world where you weren’t in this role, what was plan B?
01:15:53 - Thank you Jonathan!
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