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ConceptCentral theme · 5/5

Pay for alpha, not beta or luck in alternatives

The case was made that fees for external managers in areas like infrastructure should be aligned with value-add (alpha), not paid for beta returns from economic factors like growth or declining rates.

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The argument, what validates it, the risks discussed and hearing it from the source are for signed-in members. Free accounts read 3 ideas in full a day. No card required.

The story so far
CONTESTED · 206 MENTIONS · 114 EPISODES · 29 SHOWS
30 JUN 2025 — 15 AUG 2026 · 3D AGO
85 SUPPORT · 8 CHALLENGE · 2 REPEAT · 111 MENTIONED
  1. 30 JUN 2025 · FIRST HEARD
    THE ALPHA EXCHANGE
  2. 8 EPISODES BETWEEN · 13 MENTIONS · 54 NOT KEPT
    1. 54 EPISODES NOT SHOWN
    2. 23 JAN 2026
      MASTERS IN BUSINESS · 2 MENTIONS
    3. 26 JAN 2026
      CAPITAL ALLOCATORS · 2 MENTIONS
    4. 27 JAN 2026
      THE LONG VIEW
    5. 29 JAN 2026
      THE DERIVATIVE · 3 MENTIONS
    6. 31 JAN 2026
      TOP TRADERS UNPLUGGED
    7. 1 FEB 2026
      WE STUDY BILLIONAIRES - THE INVESTORS PODCAST NETWORK
    8. 3 FEB 2026
      THE MEB FABER SHOW · 2 MENTIONS
    9. 5 FEB 2026
      CAPITAL ALLOCATORS
  3. 9 FEB 2026
    CAPITAL ALLOCATORS · 6 MENTIONS
  4. 44 EPISODES BETWEEN · 74 MENTIONS
    1. 9 FEB 2026
      CAPITAL ALLOCATORS · 4 MENTIONS
    2. 9 FEB 2026
      CAPITAL ALLOCATORS · 3 MENTIONS
    3. 9 FEB 2026
      THE MEB FABER SHOW
    4. 9 FEB 2026
      WHAT BITCOIN DID
    5. 10 FEB 2026
      AFFORD ANYTHING
    6. 10 FEB 2026
      THE JULIA LA ROCHE SHOW · 2 MENTIONS
    7. 10 FEB 2026
      THE LONG VIEW · 3 MENTIONS
    8. 12 FEB 2026
      GOLDMAN SACHS EXCHANGES
    9. 15 FEB 2026
      YET ANOTHER VALUE PODCAST · 2 MENTIONS
    10. 16 FEB 2026
      ANIMAL SPIRITS
    11. 16 FEB 2026
      CAPITAL ALLOCATORS · 5 MENTIONS
    12. 20 FEB 2026
      THE COMPOUND AND FRIENDS · 2 MENTIONS
    13. 21 FEB 2026
      THE JULIA LA ROCHE SHOW
    14. 23 FEB 2026
      CAPITAL ALLOCATORS
    15. 24 FEB 2026
      THE LONG VIEW
    16. 25 FEB 2026
      FORWARD GUIDANCE
    17. 26 FEB 2026
      MASTERS IN BUSINESS
    18. 5 MAR 2026
      THE DERIVATIVE · 3 MENTIONS
    19. 6 MAR 2026
      THE MEB FABER SHOW · 3 MENTIONS
    20. 11 MAR 2026
      MASTERS IN BUSINESS
    21. 12 MAR 2026
      THE RATIONAL REMINDER PODCAST
    22. 16 MAR 2026
      ANIMAL SPIRITS
    23. 19 MAR 2026
      CAPITAL ALLOCATORS
    24. 23 MAR 2026
      CAPITAL ALLOCATORS
    25. 26 MAR 2026
      THE RATIONAL REMINDER PODCAST · 6 MENTIONS
    26. 31 MAR 2026
      MONETARY MATTERS WITH JACK FARLEY
    27. 31 MAR 2026
      EXCESS RETURNS · 2 MENTIONS
    28. 6 APR 2026
      CAPITAL ALLOCATORS · 2 MENTIONS
    29. 7 APR 2026
      MONETARY MATTERS WITH JACK FARLEY
    30. 7 APR 2026
      THE MEB FABER SHOW · 2 MENTIONS
    31. 13 APR 2026
      ANIMAL SPIRITS
    32. 16 APR 2026
      THE RATIONAL REMINDER PODCAST
    33. 20 APR 2026
      ANIMAL SPIRITS · 2 MENTIONS
    34. 22 JUL 2026 · 4W AGO
      MONETARY MATTERS WITH JACK FARLEY
    35. 25 JUL 2026 · 3W AGO
      TOP TRADERS UNPLUGGED
    36. 25 JUL 2026 · 3W AGO
      PLANET MICROCAP PODCAST
    37. 25 JUL 2026 · 3W AGO
      EXCESS RETURNS
    38. 27 JUL 2026 · 3W AGO
      CAPITAL ALLOCATORS
    39. 30 JUL 2026 · 3W AGO
      THE RATIONAL REMINDER PODCAST
    40. 30 JUL 2026 · 3W AGO
      THE DERIVATIVE
    41. 31 JUL 2026 · 3W AGO
      MASTERS IN BUSINESS · 2 MENTIONS
    42. 2 AUG 2026 · 2W AGO
      WSJ WHAT'S NEWS · 2 MENTIONS
    43. 5 AUG 2026 · 2W AGO
      TOP TRADERS UNPLUGGED · 2 MENTIONS
    44. 6 AUG 2026 · 2W AGO
      THE DERIVATIVE
  5. 7 AUG 2026 · 2W AGO
    THE MEB FABER SHOW
  6. 8 AUG 2026 · 1W AGO
    TOP TRADERS UNPLUGGED
  7. 9 AUG 2026 · 1W AGO
    WE STUDY BILLIONAIRES - THE INVESTORS PODCAST NETWORK
  8. 12 AUG 2026 · 6D AGO
    FORWARD GUIDANCE · 2 MENTIONS
  9. 14 AUG 2026 · 4D AGO
    THE MEB FABER SHOW
  10. 15 AUG 2026 · 3D AGO
    TOP TRADERS UNPLUGGED
HOW THE SHOWS HAVE DISCUSSED THIS THESIS OVER TIME · NOT A PERFORMANCE RECORD
NOT INVESTMENT ADVICE · A SUMMARY OF WHAT WAS SAID ON THE PODCAST · VERIFY AGAINST THE SOURCE