The Wall Street Lab

Rohan Doctor, founder and CEO of Louisa AI, joins The Wall Street Lab to discuss relationship intelligence, trust, and how complex institutional business actually gets done.

Before founding Louisa, Rohan spent 17 years at Goldman Sachs, including a decade as a managing director. In this episode, Andi and Rohan discuss how senior banking relationships are built, why CRM systems often fail to capture the real "who knows who" inside an organization, and how AI can help financial institutions connect the right relationships, mandates, and timing without replacing the human trust at the center of dealmaking.

Key Topics and Timestamps: What Louisa AI does and why "who knows who" matters in finance [00:00:11 - 00:02:57] The Goldman Sachs origin story: systematizing serendipity with data [00:02:57 - 00:04:32] Bank Solutions in Hong Kong and why institutional business depends on relationships [00:04:32 - 00:08:31] Why CRM data goes stale and why relationship data is hard to capture manually [00:08:31 - 00:10:12] How Rohan manually mapped banks, stakeholders, needs, constraints, and transaction ideas [00:10:12 - 00:15:38] Finding the internal "Sherpa" who can navigate a large client organization [00:15:38 - 00:18:20] Warm introductions, trust bridges, and why relationship-led business is different from cold outreach [00:18:20 - 00:22:15] Building rapport quickly, listening well, and showing what is in it for the client [00:22:15 - 00:27:05] The three ingredients of a deal: right relationship, right mandate, and right time [00:27:05 - 00:29:10] How Louisa uses AI to identify opportunities, relationship paths, and who should pick up the phone [00:29:10 - 00:33:45] Why AI adoption in large financial institutions is slow, and how business and technology teams make decisions [00:33:45 - 00:38:05] Trust versus price and deal terms in banking and relationship-led enterprise sales [00:38:05 - 00:41:15] Relationships as career capital, firm capital, and a way to make your own luck [00:41:15 - 00:44:45]

Links mentioned / referenced: Rohan Doctor on LinkedIn: https://www.linkedin.com/in/rohan-doctor-17310713/ Louisa AI: https://louisa.ai/ About Louisa AI: https://louisa.ai/about_louisa/ Louisa AI press: https://louisa.ai/press/ CNBC on Louisa spinning out of Goldman Sachs: https://www.cnbc.com/2023/05/12/goldman-sachs-ai-corporate-social-media-startup.html

You can find all episodes of The Wall Street Lab Podcast on https://thewallstreetlab.com/

Andrew Beer, co-founder and managing member of Dynamic Beta Investments (DBi), joins The Wall Street Lab for a deep dive into hedge fund replication, managed futures, and liquid alternatives.

Andrew started his hedge fund career at Baupost, working for Seth Klarman, before co-founding investment firms focused on commodities, hedge funds, and relative value strategies. In this episode, Andi and Andrew discuss how the hedge fund industry has evolved, why managed futures are often misunderstood, and how DBi approaches replication as a more efficient way to access hedge fund-like return streams.

Key Topics and Timestamps: Andrew's background, Baupost, and how hedge funds changed from a cottage industry to an institutional asset class [00:00:11 - 00:07:29] What managed futures and CTAs are, and why Andrew describes the space as a $300 billion misunderstood asset class [00:07:29 - 00:11:22] Why human beings are poor tactical investors, and how managed futures can act as the "speedboat" inside a long-term portfolio [00:11:22 - 00:16:31] Why managed futures should not be framed simply as portfolio insurance, plus examples from equities, oil, gold, and macro shocks [00:16:31 - 00:19:43] Trend following, contrarian tactical alpha, and why Andrew thinks the terminology around managed futures is unhelpful [00:19:43 - 00:23:13] How managed-futures models are built: futures contracts, signals, moving averages, false signals, and portfolio churn [00:23:13 - 00:31:23] Stop losses, risk controls, whipsaws, and the case that simpler models may outperform more complex ones [00:31:23 - 00:39:51] What hedge fund replication means and how DBi tries to capture the signal of large hedge funds more efficiently [00:39:51 - 00:44:17] The 54% edge, structural efficiency, and why small advantages can compound in replication [00:44:17 - 00:47:29] Using daily hedge fund, mutual fund, and UCITS data to infer exposures and rebalance a simpler portfolio [00:47:29 - 00:52:15] The human judgment behind quantitative investing and why modeling decisions are not purely mechanical [00:52:15 - 00:56:27] Repeatable investment process, skill versus luck, and why DBi has kept its core process unchanged for a decade [00:56:27 - 01:00:23] Allocator incentives, private equity, private credit, and why investment products are not always selected purely on risk-adjusted returns [01:00:23 - 01:02:43] Final thoughts on volatility, diversification, simplicity, and building products clients can hold for the long term [01:02:43 - 01:07:17]

You can find all episodes of The Wall Street Lab Podcast on https://thewallstreetlab.com/

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/

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/

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/

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/

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/

Investors are quick to brag about the impact and network they add to their investments. After all, they know a lot of important people, have access to cash, and an infinite source of knowledge.

Christoph Jost, Founder & Managing Partner at FLEX Capital, isn't one of them. "We come in when the founders have already done the hard part", he says. "They have scaled their business to 1 million EBITDA or 5 million in revenue. It's clearly working already."

• What bootstrapped founders face when they scale
• How FLEX Capital finds and invests in them
• How FLEX Capital approaches consolidation
• How Christoph moved into Private Equity

More about FLEX Capital: https://www.flex.capital/en/

More about Fintalent.io: https://fintalent.io

You can find all episodes of The Wall Street Lab Podcast on https://thewallstreetlab.com/

Check 0ut 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/

Welcome to the Wall Street Lab podcast, where we interview top financial professionals and deconstruct their practices to give you an insider look into the world of finance.

In this episode, Jan Voss of BLN Capital shares insights on the challenges, rewards, and intricacies of working in the family office space

We discussed:

• What are the complexities of family offices and their various forms (Single Family Offices vs. Multi-Family Offices)?

• How does the role of a family office manager differ from traditional fund managers?

• What is the importance of discretion and trust in family office management?

• How do family office managers balance family interests while maintaining professionalism?

• What is the appeal of working in the family office space in terms of diversity and intellectual stimulation?

More about BLN Capital: https://www.blncapital.com/

More about Fintalent.io: https://fintalent.io

You can find all episodes of The Wall Street Lab Podcast on https://thewallstreetlab.com/

Welcome to the Wall Street Lab podcast, where we interview top financial professionals and deconstruct their practices to give you an insider look into the world of finance.

Financial models are more than forecasts - they're a crucial decision-making tool. And it takes more than Excel-skills to make them impactful.

Our guest today is Ian Schnoor, Co-Founder and Executive Director of the Financial Modeling Institute

In this episode, we discuss:

• Why Financial Models are vital tools for investment decisions
• What makes a Financial Model great
• What can go wrong when building a Financial Model

Learn more about the Financial Modeling Institute: https://fminstitute.com/ More about Fintalent.io: https://fintalent.io You can find all episodes of The Wall Street Lab Podcast on https://thewallstreetlab.com/