Nothing Left to Buy: Sky-High Small Caps

Published on
January 31st, 2018
Duration
32 minutes

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24

Nothing Left to Buy: Sky-High Small Caps

The Expert View ·
Featuring Eric Cinnamond

Published on: January 31st, 2018 • Duration: 32 minutes

Eric Cinnamond is a noted absolute return small-cap value fund manager with two decades of experience and a long track record of outperformance. But amid recent surging stock market valuations, he shut down his fund and returned his clients' money. In this piece, he explains that decision, forecasts what's ahead for stocks, and reveals the steps of his rigorous research process. Filmed on January 12th, 2018 in Jacksonville, Florida.

Comments

Chapters

  1. 00:01:30
    Interest in Small-Cap Stocks
  2. 00:02:31
    Managing Money
  3. 00:04:04
    First Great Success
  4. 00:06:15
    Research Process
  5. 00:08:06
    Best & Worst Years
  6. 00:09:31
    Passive Investment
  7. 00:11:28
    Making Active Management Harder?
  8. 00:15:52
    Closing The Fund
  9. 00:19:27
    Investor Reaction
  10. 00:22:08
    Evaluating Stocks
  11. 00:26:01
    Macroeconomic Insight
  12. 00:27:12
    Biggest Risks for Investors
  13. 00:29:56
    Regretting Small-Cap Focus?

Mark Yusko

Morgan Creek Capital Management, Co- Founder, CEO, & CIO

Mark Yusko is the Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management. He is also the Managing Partner of Morgan Creek Digital Assets.

Morgan Creek Capital Management was founded in 2004 and currently manages close to $2 billion in discretionary and non-discretionary assets. Prior to founding Morgan Creek, Mr. Yusko was CIO and Founder of UNC Management Company (UNCMC), the Endowment investment office for the University of North Carolina at Chapel Hill. Before that, he was Senior Investment Director for the University of Notre Dame Investment Office. Mr. Yusko has been at the forefront of institutional investing throughout his career. An early investor in alternative asset classes at Notre Dame, he brought the Endowment Model of investing to UNC, which contributed to significant performance gains for the Endowment. The Endowment Model is the cornerstone philosophy of Morgan Creek, as is the mandate to Invest in Innovation.

Mr. Yusko is again at the forefront of investing through Morgan Creek Digital Assets, which was formed in 2018. Morgan Creek Digital is an early stage investor in blockchain technology, digital currency and digital assets through the firm’s Venture Capital and Digital Asset Index Fund.

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Other stop-off points on the way were NatWest Markets and HSBC, although he began his career by training traders in technical analysis.

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22-year Wall Street veteran who has been active in bitcoin and blockchain since 2012. In 2018-20 she led the charge to make her native state of Wyoming an oasis for blockchain companies in the US, where she helped Wyoming enact 20 blockchain-enabling laws. From 2016-18 she jointly spearheaded a blockchain project for delivering market index data to Vanguard as chairman and president of Symbiont, an enterprise blockchain start-up. Caitlin ran Morgan Stanley’s pension solutions business (2007-2016), heldsenior roles at Credit Suisse (1997-2007) and began her career at Salomon Brothers (1994-1997). She is a graduate of Harvard Law School (JD, 1994), the Kennedy School of Government (MPP, 1994) and the University of Wyoming (BA, 1990).

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