We're counting down the top 5 episodes of 2025. Coming in at #1 is the legend, Howard Marks from Oaktree. I waited a while to have Howard on the show to capture a moment where one of his Memos particularly caught my eye. That happened when he wrote 'Gimme Credit' earlier this year. We dive into his thoughts on the implications of the growth of private credit for investors.

With that, I hope you sprint to the finish line of this year with all the gusto in your soul, and come out on the other side of the ball drop with renewed excitement, aspirations, and energy for the year ahead.

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Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠)

We're counting down the top 5 episodes of 2025. At #2 is Ian Charles from Arctos Partners. Before founding Arctos alongside Doc O'Connor to dominate the sports investing sector, Ian spent his career creating liquidity solutions in private markets. Arctos' second strategy goes back to his roots, providing solutions for GPs. In all of his work, Ian is intensively research and data-driven, and he brings that to bear to describe the current state of private market businesses.

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Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠)

We're counting down the top 5 episodes of 2025. Coming in at #3 is Tim Sullivan. Tim joined the Yale Investments Office in 1986, a year after David Swensen arrived, and retired this year. In his 39 years in the saddle, he led Yale's private equity investing, which was the biggest return driver in the biggest success story over the last four decades. He shares four decades worth of wisdom and insights in our conversation.

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Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠)

For this year's annual review, our CEO Hank and I cover investment trends across private and public markets and top-of-mind issues for allocators. We then discuss highlights of the podcast and our efforts to improve discoverability of great episodes, outstanding asset management fintech products, and Capital Allocators University.

With the Year in Review, we also kick off our countdown of the most popular episodes of 2025. We'll drop two this week and the top three next week.

Wishing you a relaxing, enjoyable, and very happy holiday!

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Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠)

We're counting down the top 5 episodes of 2025. Coming in at #5, is Adrian Meli from Eagle Capital. It's a fun, nuanced exploration of applying the most sophisticated tools of hedge fund investing to long only public equities.

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Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠)

We're counting down the top 5 episodes of 2025. At #4, it's Alex Sacerdote from Whale Rock Capital. Alex is a passionate TMT investor who describes how he finds companies ascending their S-curve of adoption.

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Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠)

Matthew Dicks is a bestselling author, award-winning storyteller, and consultant on storytelling to Fortune 500 companies, including four of the Mag 7, and nonprofits, including Yale, Harvard, and the FBI. His bestselling books, Storyworthy and its business companion, Stories Sell, are my favorite books on storytelling. Matt spent a decade as a manager at McDonalds, twenty years as a wedding DJ, and will retire this year after 27 years as a middle school teacher. He's written six fiction and three non-fiction books in total and won a record 62 MOTH StorySLAM competitions and nine GrandSLAM championships.

Our conversation starts where it should – with Matt telling a story. We then go through his process of finding great stories, constructing the beginning, end, and path along the way, enhancing elements, and giving presentations.

Matt has gifts for both storytelling and teaching, and that combination offers incredible lessons to apply storytelling in our work. After his retirement in June, Matt will be more available to help others tell impactful stories. You can find him at matthewdicks.com or storyworthy.com.

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Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠)

Josh Wolfe and Brett McGurk are Partners at Lux Capital, a $5 billion venture capital firm that specializes in emerging science and technology companies that turn sci-fi into sci-fact. Josh co-founded Lux and is a repeat past guest on the show. His first appearance from 2018 discusses his story, including phrases: 'chips in shoulders put chips in pockets,' 'failure comes from a failure to imagine failure,' and 'directional arrows of progress.'

Brett joined Lux last year, following a 20-year career in public service where he advised four U.S. presidents and helped shape national security strategy across the Middle East.

Our conversation kicks off with Josh's state of the venture industry and Lux's positioning within it. Brett then describes his background, sovereign ambitions, and geopolitical risks. We discuss directional arrows of progress across AI, cap-ex maintenance, biology, defense systems, and space.

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Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠)

Josh Wolfe is the co-founder of Lux Capital, a $1.5 billion venture capital firm formed to support scientists and entrepreneurs who pursue counter-conventional solutions to the most vexing puzzles of our time. Josh's innovative thought process across his activities offers frameworks and insights applicable across the spectrum of investing. Our conversation covers Josh's early passion for science and finance, building a competitive advantage in venture capital from scratch, sourcing ideas, conducting due diligence, making investment decisions, constructing portfolios, making exits, learning from mistakes, navigating a challenging private equity environment, posting on Twitter, active vs. passive management, dinner table conversation, and life lessons. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠)

This Sponsored Insight features Robert Boucai and James Broyer. They are the Co-Founders of Newbrook Capital Properties, a multifamily real estate investment platform built to generate optimal long-duration, tax-efficient income. Robert is also the Founder of Newbrook Capital Advisors, a hedge fund he launched twenty years ago that today manages $1 billion across long-short and long-only strategies. He was born with sensorineural hearing loss and today serves on the Board of the Hearing Health Foundation, which is dedicated to preventing and finding cures for hearing loss.

Our conversation covers Robert's path from real estate to hedge fund investing and back to real estate. We discuss the real estate strategy he designed with James, including alignment, market and asset selection, property improvement, and supply-demand drivers to create durable rental growth. We close with risks, synergies with Newbrook's public equity business, and plans to scale the real estate platform.

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Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠)