Today I came across an article of Gerry O'Reilly, portfolio manager of the Vanguard Total Stock Market Index Fund. The fund has $ 488 billion AuM. Key success factor (besides Vanguard's overall culture) is operational excellence / technology: Vanguard has invested heavily in technology. Algorithms help managers figure out where to buy and sell while minimizing market … Continue reading Execute!

Organizational alpha: Investment Committees

At money management firms, the investment decision making process is one of the crucial elements. While the investment process/philosophy itself often gets lots of attention, the investment committee making the investment decisions does not always get the same level of scrutiny. Being part of an investment committee myself, I experienced the pro's and con's of making investment … Continue reading Organizational alpha: Investment Committees