A new study by CAIA Association has me shook
What would happen if you stopped "being polite" and started being real... (All roads lead back to the 90's, Friends, all roads)
Let's imagine a different type of meeting. Dare I say better? What if you:
Shitcanned your pitchbook
Traded the 'dog and pony show' for the 'people invest with people' show
Realized culture eats Sharpe Ratio for breakfast (thank you John L Bowman, CFA)
Asked real questions and gave real answers
Let down your guard
I'm not saying numbers aren't important. They are. I'm saying they aren't the only important thing.
You know who else is saying that? My friends at CAIA Association. They did a study about due diligence including:
The power of qualitative due diligence versus quantitative
The disconnect between what managers think is important in due diligence and what is actually important to investors
If you want real talk, go read it.
Or listen to my friend, Aaron Filbeck, CFA, CAIA, CIPM, FDP and I rap about it in our recent video interview.