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David Morehead manages Baylor's $2.2 billion endowment with a small team, demonstrating that endowment size doesn't determine investment quality — process discipline does.
This summary was generated from show notes and public descriptions, not from a full transcript review. Details may contain inaccuracies.
Canon
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Morehead tells Seides his investment committee explicitly separates controllable factors (process, manager diligence, asset allocation) from uncontrollable ones (market returns, interest rates, geopolitics).
Highlights
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Small endowments can outperform large ones by being nimble — size is not destiny in institutional investing
Morehead shows that Baylor's $2.2B endowment has outperformed many larger endowments by accessing smaller funds, making quicker decisions, and avoiding the bureaucratic processes that slow larger institutions.Was this useful?