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E22: Alex Edelson of Slipstream on The 4 Sources of Alpha for Emerging Managers by David Weisburd

E22: Alex Edelson of Slipstream on The 4 Sources of Alpha for Emerging Managers

from How I Invest with David Weisburd

by David Weisburd

Published: Tue Nov 21 2023

Show Notes

Alex Edelson of Slipstream Investors, sits down with David Weisburd and Erik Torenberg to discuss the four sources of alpha for emerging managers (Sourcing, Picking, Winning, and Value-Add). We’re proudly sponsored by Bidav Insurance Group, visit lux-str.com if you’re ready to level up your insurance plans. (0:20) Episode Preview (1:46) Slipstream’s fund strategy (2:57) What to look for when diligencing a GP (6:32) The typical Slipstream diligence process (7:34) What Alex wants to hear on a GP reference call ()Why does fund performance decline in later vintages? ()Episode Sponsor: Bidav Insurance Group ()How should family offices approach venture? ()Why concentration drives performance ()Alex’s value add to GPs ()The folly of optimizing on special economics ()Generalists vs. Specialists ()Ranking of Sourcing, Picking, Winning, and Value Add by importance ()How to be a good sourcer ()How to be a good picker ()How to win deals ()Fundraising and investing are different skills ()Lessons from working at QED ()The difference between a good LP and a great LP ()How to optimize portfolio construction ()Are GPs penalized for not doing pro-rata? ()“I want to help venture firms, whether or not I invest.”