[REPLAY] Ashby Monk – Investor Identity, Navigation, and Resilience (Capital Allocators, EP.312)

The discussion centers on investor identity and how it drives returns, emphasizing the understudied nature of asset owners like pension funds and sovereign funds. Ashby Monk, Executive and Research Director of the Stanford Research Initiative on Long-Term Investing, outlines a production function composed of capital, people, process, and information as the irreducible components of every asset owner's identity. He argues that governance, culture, and technology serve as environmental enablers to improve performance, with technology offering potential for enhanced returns through better understanding of portfolio risks. Monk suggests that technology can transform portfolios by enabling them to hold less cash and make more informed decisions, referencing APG and Coal Pension Trust as institutions adopting these concepts.