Ted on Alt Goes Mainstream

**Ted Seides** (0:06)
I'm Ted Seides, and this is Capital Allocators.
Once in a while, I take a turn on the other side of the microphone and share it on our feed when I've said something different from what I have in the past. I recently appeared on Michael Sidgmore's Alt Goes Mainstream podcast, which focuses on the intersection of private markets and wealth management. Michael was the first guest on our Private Wealth miniseries and asked me to share my lessons from that miniseries on AGM when it concluded. Our conversation covers David Swensen's Last Thing Legacy, perspectives on private market interests from the wealth channel, parallels of private equity and the hedge fund industry, behavioral biases and manager selection, and the power of content in asset management. Before we get going, it's time for all our back to school rituals. Time to shop for clothes, buy a few pencils and notebooks, or update electronic devices as the case may be, adjust sleep schedules, and launch into the excitement of new teachers, classrooms and classes. But rather than hear about it from me or my kids, who are long past the precious ages of first day of school photos, I thought you might enjoy hearing about it from the Capital Allocators family. Here's Blake Arguella, Morgan's nine-year-old daughter.

**SPEAKER_3** (1:33)
I love school because I get to see my friends that I did see over the summer.

**Ted Seides** (1:37)
And another from Galia Auerbach, Tamar's seven-year-old daughter.

**SPEAKER_3** (1:42)
I love school because you get to see old friends and new things.

**Ted Seides** (1:46)
The lesson from these adorable kiddos is the same as investing in managers. It's all about the people. And when it comes to connecting and learning with your peers, there are only two ways I know to bottle up similar enthusiasm in adults coming back to school. First, investor relations and business development professionals can join us at Capital Allocators University for our next course in December. Early bird rates will last another week. And for everyone else, you can tune in right here for a modern version of the classroom each week and tell all your friends to join your class. Thanks so much for coming back to school with Capital Allocators. Capital Allocators is brought to you by my friends at WCM Investment Management. To outperform the markets, you have to do something differently from others. In my 30-something years investing in managers, there may be no one I've come across who does that as clearly and as well as WCM. I've seen it up close as an investor in their international growth strategy for the last five years. WCM is a global equity investment manager, majority owned by its employees. They believe that being based on the West Coast, away from the influence of Wall Street groupthink, provides them with the freedom to live out their investment team's core values, think different and get better. As advocates of integrating culture research into the investment process and advancing wide moat investing with the concept of moat trajectory, WCM has delivered differentiated returns while building concentrated portfolios designed to stand out from the crowd. WCM is committed to defying the status quo by dismantling outdated practices, believing in the extraordinary capabilities of its people and fostering optimism to inspire each individual to become the best version of themselves. To learn more about WCM, visit their website at wcminvest.com.
And tune in to this slot on the show to hear more about WCM all year long.

**SPEAKER_4** (3:51)
This testimonial is being provided by Ted Seides and Capital Allocators, who have been compensated a flat fee by WCM. This payment was made in connection with Capital Allocators' testimonial and production of podcasts, and does not depend on the success or level of business generated. The opinions expressed are solely those of Capital Allocators and may not reflect the opinions of others. Investing involves risk, including the possible loss of principle. Past performance is not indicative of future results. Please visit wcminvest.com for WCM's ADV and further information.

**Ted Seides** (4:19)
Today's show is also brought to you by AlphaSense. AlphaSense is the market intelligence platform trusted by institutional investors worldwide. It gives you access to over 500 million premium sources, from company filings and broker research, to news, trade journals, and over 200,000 expert calls. This October, AlphaSense is hosting its inaugural Alpha Summit 2025 in Brooklyn at the refinery at Domino. Alpha Summit will discuss how AI is reshaping investment research and decision-making, featuring leaders from UBS, Wells Fargo, Accenture, Google, Stripes Group, the Carlisle Group, and new speakers announced each week. What makes Alpha Summit unique is that it's not just about ideas. It's about showcasing the real workflows and strategies top firms are using today. Join AlphaSense at Alpha Summit 2025, October 6th through 8th. To register and to see the full list of speakers and agenda, go to alphasense.com/capital. That's alphasense.com/capital.