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9/22 Venturi Company Night

We enjoyed getting to kick off our first Company Night of the year with Venturi Private Wealth this past Thursday as we discussed some general investing principles! Check out the event highlights below.




About Venturi

  • Venturi is an RIA

    • RIAs are legally required to be fiduciaries

  • Manage $2.2 billion

  • Mostly work in Austin

    • Also have an office in Oklahoma City

    • Most clients are in Austin or scattered throughout the rest of Texas

    • Lots of Venturi clients are former entrepreneurs that got a lot of money from selling business to private equity or by going public

  • Clients give day to day control of assets to Venturi

  • Venturi also has relationships with banks

    • If clients want loans or lines of credit, Venturi can go to banks and get them to compete with each other

  • Venturi also has a very quantitative approach designed to mitigate human biases

  • Because clients already have so much money, goal is not chasing the next hot thing, but steady consistent returns

  • Venturi tries to limit using 3rd party investment managers - this is a point of pride

    • Big banks like UBS and Morgan Stanley use 3rd party investment managers

  • Venturi uses Fidelity as its custodian - company that actually touches the assets, but Venturi is the actual one that operates and sends orders for the money

  • Started in 2015

  • 35 employees currently

  • Venturi uses factor investing

Venturi Internship

  • Have hired 2-4 interns every year

    • Focus on UT WMP for source of interns

  • Venturi will probably put internship applications out in around February

    • Interviews are around March/April

  • Internship is not very structured, which is deliberate - they want self starters

  • Strong preference for interns going into their senior year

Financial Perspectives

  • When trying to sell a business, there are several options

    • Sell to private equity

    • Sell to larger company (ex. Tech company)

    • Initiate an employee stock plan

  • Young investors tend to get too caught up in short term trends

    • Time is their biggest asset

    • This is not a mistake that just young investors tend to make

  • Don’t focus on just 1 sector or whichever 1 is currently trending

  • Stick with long term, fundamental, proven strategies

  • For how frequently you check your account, you should do what makes you the most comfortable

    • On average, Venturi clients check about once every other week

    • It’s okay to check relatively often, but don't make major decisions without consulting someone or taking some time to review your thought and decision making process

    • Chances are that if you can’t sleep well without checking often, your investments are probably too risky - in this case, trading off returns is okay and it’s the price worth paying

  • Herd mentality, overconfidence, recency bias, and anchoring are common biases that people have

    • Look at your investing behavior and try to identify evidence of these patterns

    • Keep a journal with the stock, date, and why you transacted to help with this

    • Retail investors tend to lose to institutional investors because institutional investors (including Venturi) follow this process of explaining why they are engaging in a transaction and looking back over time at their investing behaviors






 
 
 

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