We had the pleasure to chat with Iven Kurz, founder and CEO of Evergreen GmbH. Evergreen is a German retirement focused Robo advisor. Before founding his own company, Iven was a total return fund manager for two of the biggest German Private Banks. The total return investing style Iven uses is called Passive Dynamic Investing, which is based on the Black-Scholes Option Pricing Theory and he used for many years. We dive deep into the weeds of this investment form and see why it is being used for retirement saving. Please keep in mind this is not investment advice full disclaimer at the end of the podcast.   The topics discussed include: 03:00 - investment philosophies 04:30 - How Iven got into Total Return investing 07:00 - portfolio insurance investing and what is passive dynamic investing (PDI) 12:30 - deep dive into PDI and Option Pricing theory 17:30 - what is the goal of PDI 23:55 - how does risk work in PDI? 26:40 - PDI for retirement planning and risk 29:00 - risk budgets 32:00 - predicting returns for PDI Investing 35:25 - about long-short total return investing 37:30 - What Evergreen does 40:50 What Evergreen does differently 43:30 - costs and risk premium for robo-advisors 47:20 - PDI and black swan events 50:15 - closing questions   As always, make sure you share the podcast with anyone you think might benefit from the information. And don’t forget to leave us a 5-Star review on iTunes! Find out more at https://www.thewallstreetlab.com/ Luke, Leo & Andy

#32 Iven Kurz – Passive Dynamic Investing

The Wall Street Lab is a podcast that explores the world of finance from an insider perspective. The host, Andreas von Hirschhausen interviews top financial professionals in the fields of private equity, hedge funds, investment banking, mergers and acquisitions, asset management, venture capital, management consulting, trading and many more. The themes range from investment related topics, financial markets and news, career development in finance, favourite books, personal habits, just to name a few.

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Rami Cassis, founder and CEO of Parabellum Investments, discusses how his firm operates as a hybrid between a family office and private equity firm. He provides an inside look at his investment approach, building relationships and reputation, and his perspective on improving private equity's image. Key Topics and Timestamps:  What a hybrid family office and private equity firm is and why Cassis cares about private equity image [00:02:00 - 00:05:45] Cassis' approach to sourcing investments and what he looks for in an acquisition target [00:05:45 - 00:10:15] How valuation discussions unfold and avoiding deal fatigue [00:10:15 - 00:15:00] The importance of honoring your word in building relationships and reputation [00:15:00 - 00:20:00] Integrating a new acquisition and exiting investments [00:20:00 - 00:25:00] Tips on deal negotiations and avoiding concessions [00:25:00 - 00:30:00] Working with management teams and the role of chairman [00:30:00 - 00:35:00] How private equity can improve its image and be a force for good [00:35:00 - 00:40:00] What Cassis looks for when hiring junior team members [00:40:00 - 00:45:00] The importance of diversity and avoiding "assholes" [00:45:00 - end]        More about our sponsor Fintalent.io: https://fintalent.io You can find all episodes of The Wall Street Lab Podcast on https://thewallstreetlab.com/ Check Out these Wall Street Oasis courses: Modeling Elite Modeling Package: https://il130.isrefer.com/go/TWSLElite/TWSL/ LBO Modeling Course: https://il130.isrefer.com/go/TWSLLBO/TWSL/ Real Estate Modeling Course: https://il130.isrefer.com/go/TWSLRE/TWSL/

#108 - Finding The Good In Private Equity - With Rami Cassis, Parabellum Investments

In this episode, Christina Bresani, Managing Director and Head of Corporate Advisory at William Blair, shares her insights and experiences in investment banking and corporate advisory. She discusses her background, breaking into the industry, and the importance of networking. Christina explains the role of corporate advisory and its responsibilities in mergers and acquisitions, including advising clients on acquisitions, divestitures, mergers, and defending against activists. She emphasizes the changing landscape of friendly and hostile takeovers and the need for valuable relationships with clients. Additionally, Christina highlights the importance of diversity and the initiatives taken by William Blair to support women in investment banking. The episode concludes with her advice to be open to learning, curious, and true to oneself in the industry. We discuss the following topics:  Christina's background and journey in investment banking Breaking into the industry and the importance of networking The role and responsibilities of corporate advisory in mergers and acquisitions Preparing for shareholder activism and engaging with activists Evaluating defense profiles and best practices in the boardroom The current landscape of friendly and hostile takeovers The importance of diversity and initiatives to support women in investment banking    More about our sponsor Fintalent.io: https://fintalent.io You can find all episodes of The Wall Street Lab Podcast on https://thewallstreetlab.com/ Check Out these Wall Street Oasis courses: Modeling Elite Modeling Package: https://il130.isrefer.com/go/TWSLElite/TWSL/ LBO Modeling Course: https://il130.isrefer.com/go/TWSLLBO/TWSL/ Real Estate Modeling Course: https://il130.isrefer.com/go/TWSLRE/TWSL/  

#107 - Building a strong investment banking network - Christina Bresani, William Blair

In this episode, Dr. Daniel Crosby shares insights on the behavioral aspects of investing. The conversation covered a range of topics, including the trends of passive and active investing, the biases exhibited by portfolio managers, the impact of recent events like the WallStreetBets phenomenon, and the interconnectedness of personal well-being and financial decision-making. Let's delve into the key takeaways from this enlightening discussion. We discuss the following topics:  Passive vs. active investing: Strengths and weaknesses of both approaches. Biases in portfolio managers: Managers can exhibit biases they advise against. Rise of retail trading platforms: Gamification, easy access, and zero-cost transactions. Role of personal well-being: Connection between well-being and financial decisions. WallStreetBets phenomenon: Appeal and cautionary aspects of the movement. Influence of extreme states: Impact of emotional and physical states on decision-making. Overall insights: Understand approaches, manage biases, consider retail trading, and prioritize well-being.     More about our sponsor Fintalent.io: https://fintalent.io You can find all episodes of The Wall Street Lab Podcast on https://thewallstreetlab.com/  Check Out these Wall Street Oasis courses:  Modeling Elite Modeling Package: https://il130.isrefer.com/go/TWSLElite/TWSL/ LBO Modeling Course: https://il130.isrefer.com/go/TWSLLBO/TWSL/ Real Estate Modeling Course: https://il130.isrefer.com/go/TWSLRE/TWSL/    Quick LinksGet Embed PlayerDownload Audio File    

#106 - Understanding Behavioral Dynamics in Investing - Dr. Daniel Crosby

In this episode of the Wall Street Lab podcast, we had the opportunity to interview Gene Goldman, the Chief Investment Officer and Director of Research at Cetera Financial Group. We will dive into the key takeaways from the interview and explore how they combine quantitative and qualitative data to generate insights for financial investment decisions. More about our sponsor Fintalent.io: https://fintalent.io You can find all episodes of The Wall Street Lab Podcast on https://thewallstreetlab.com/  Check Out these Wall Street Oasis courses:  Modeling Elite Modeling Package: https://il130.isrefer.com/go/TWSLElite/TWSL/ LBO Modeling Course: https://il130.isrefer.com/go/TWSLLBO/TWSL/ Real Estate Modeling Course: https://il130.isrefer.com/go/TWSLRE/TWSL/

#105 - Where Financial Advisors Get Advice From: Insights from Gene Goldman, CIO of Cetera Financial Group

  Brian Robinson is not your average banker. He’s a partner at Goldman Sachs, runs the firm’s Prime Brokerage sales force and leads the hedge fund client segment for equities, both for the Americas region, but he's also made a name for himself through his unconventional yet determined approach to career and leadership. In this episode, we'll take you on an interesting trip through Brian's mind. We'll talk about:  What Prime Brokerage is and where it fits into Goldman Sach's business Why fund managers sometimes need support building a business Brian's framework for impacting clients Brian's 19 Cs for success in finance How Brian approaches building human yet performing teams Why you're not cool if you only work and why you need interests outside of Finance to make it  More about our sponsor Fintalent.io: https://fintalent.io You can find all episodes of The Wall Street Lab Podcast on https://thewallstreetlab.com/    Check Out these Wall Street Oasis courses:  Modeling Elite Modeling Package: https://il130.isrefer.com/go/TWSLElite/TWSL/ LBO Modeling Course: https://il130.isrefer.com/go/TWSLLBO/TWSL/ Real Estate Modeling Course: https://il130.isrefer.com/go/TWSLRE/TWSL/ Interview Prep Hedge Fund Interview Prep Course: https://il130.isrefer.com/go/TWSLHFInt/TWSL/ Investment Banking Interview Prep Course: https://il130.isrefer.com/go/TWSLIBint/TWSL/ Private Equity Interview Prep Course: https://il130.isrefer.com/go/TWSLPEint/TWSL/ VC & PE Venture Capital Course: https://il130.isrefer.com/go/TWSLVC/TWSL/ Private Equity Deals Process: https://il130.isrefer.com/go/TWSLPEDeals/TWSL/  

#32 Iven Kurz – Passive Dynamic Investing

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