YouSaid · the spoken record

Arthur Samberg

lines on the record: 130
first: 2015-09-26
most recent: 2015-09-26
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Poorly Yeah, well, that's when you get into the point where so much money is coming into the consultants control as they should. I mean, they have a fiduciary responsibility.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Exactly. Subsequently, you teed up for the next. And then you progress from there. But the great fortune I had when I started Pequot was I hit a hot streak of hiring. And you like to think it's all because of yourself, but I brought in Dan Benton. I brought in Mark Bridge. I brought in Peter Dartley. I brought in Jerry Shendell. I brought in the first four hires that I made were spectacular. It gets harder because they hire people and you hire other people, and all of a sudden there's a lot of people, and all of a sudden you're getting bigger, and all of a sudden you have back office issues, and all of a sudden every client wants to talk to you. And it's just very, very difficult to maintain your focus.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I won't do anything that the key hire tells me to do on the first recommendation. I always wait to see how that works out. Not because I don't believe in it, but I believe it's a far better learning example to pick that one apart about what went right, what went wrong.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It's a challenge because there are a lot of smart people out there. So if you meet somebody and you talk to them, you know, you're not going to think everybody's smart, but you're going to think a lot of people are smart. And then trying to distill down those who appear to be smart into those who are going to be really effective in managing money, who are going to be easy to live with because you have to live with these people who aren't the kind of guys who become megalomaniacs and think that all the success is due to their efforts and not because of the team's effort. Very, very difficult. Very difficult.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think you went through a whole generation of people who didn't have that risk. They just were having money thrown at them.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I guess in some ways it's easy. Well, talking about today today, I don't really know because I haven't been that involved or involved at all. But at the peak of my success, it was simple for anybody to raise a fund. I mean, everybody was looking for the next great manager and they'd throw money at him with fat return profiles for the manager. I think that welcome has been worn out. I know that welcome has been worn out. So now I think if you don't have a nest egg, you're not going to make it. So you better have made some money before and put it at risk in doing what you're doing. I certainly did that back when because if you're down 20%, you can't really pay your bills. So you better have something to live on and then decide whether you really want to take the risk for your family and everything going forward.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And I have a daughter who runs our family foundation and my wife. So in our family, the males make the monies and the females are a socio-conscience and help us give it back. So my boss is really the women in the Sanbury clan. Okay. They expect that I will always perform. I will perform well and we will do great deeds for the world. So you still like have other...”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think there's a potential higher growing inefficiency because we all know what's happening to employment in the brokerage industry. You all know how many companies are followed that's declining all the time. The economics aren't there with the regulation. There are burdens on the companies plus the financial companies to follow them. So the value is definitely there. The problem is that nobody knows when you're going to get paid for that value. If David has managed to harvest some of these more power to him. Some of the guys I know.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Which is the only kind of things I own in my personal account right now, and I won't talk about any of those. I'm back. I'm back to being able to do what I first did when I started the business. You know, creating alpha through that cycle becomes difficult. And so that approach that I described, you have to evolve into a master of markets, as it were, to be able to go short and know how to use derivatives, appropriately match, you know, the cost of doing that to the potential upside. And that's become increasingly difficult for practitioners these days. And the results, quite honestly, have been pretty mediocre.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It sort of starts in the same It starts from the same basis, which is what kind of change is possible, what kind of change can you find that is being implemented by smart people. It becomes more difficult, obviously, as a trend goes on and as you become larger in size, you really can't establish those positions. But initially, my fund was set up to invest in market caps, if you can believe this in this day and age, but we're talking 30 years ago now, of market caps under $200 million, yada, yada, ya. And then, of course, it changed.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And they will do the article with or without your input. And we suggest you probably should tell you part of the story. I don't think anybody really, I mean, people on Wall Street knew who Pique What was, but I don't like publicity. I like to just live my life, do my thing, give back, I believe. I do give back. And I'm not out for self-inggrandizement. And so we were unknown. And then all of a sudden, on a Monday morning or Tuesday, bang. There it was. And my life changed.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“World. Is that true? You wake up to unexpected news every once in a while. And that's happened to me more than once in my life. But the unexpected news in this case was in the spring of 2000. We had a PR firm and the PR firm calls and says the Wall Street Journal is going to do a story. on hedge funds. Now that George Soros and Julian Robertson have decided to close down to outside investors and they have determined that you are the largest hedge fund in the world. Serving outside”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Devise a way for me to manage increasing amounts of money by using those talents and bringing them into the fund while still doing, trying to do research.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“But one of the things I did at Pequot was to realize that because I was sort of the first guy to really specialize in technology investing as a hedge fund. Really? Yeah. Without a doubt. Oh, that's fascinating. I started sector funds. And I had a great partner, Dan Benton, who then took over the technology stuff because I thought I had a broader background in the whole business and I run the business and everything else. And he had a 100% year. I had a healthcare fund that was up 125% in that time period. We started an energy fund. So we had sector funds and I”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Smoked. And so it was up 3% for my stub period in 86. And I was down 24, 25, and 26. I can't remember percent in 87. But then it came roaring back.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It was brutal. And I remember having the, because when I started the fund, it was Tunisian small companies that were overlooked that could become big companies. Those are exactly the kind of illiquid positions that got creamed. I can imagine. So I ended up, assuming that I was going to get redemptions, I had a call companies and say, would you buy my stock? For anybody who knows anything about anything, that is not a good way to execute a sell program. No. But there were no other buyers. So I got.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“But you are doing things wrong all the time. And then if you just go into a shell and you don't realize and self-analyze and really look carefully at what you did and why it failed, you will not do well. So after I was down, because that was the crash of 87. And it was.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Is expression my mother used to tell me. And I never And if you do that for a long enough period of time, my belief, clearly my belief, is that people then want to start to tear your dam. They either want to continue to build you up or tear you down. You become a high-profile target. You become a high-profile target. So you're not going to hear a lot of things you believe about what you're doing wrong when you're doing right”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Success feeds on success, and people are there to tell you how wonderful you are. People don't really unless money attracts.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I want to talk about that. So if you were to adjust it, most people have up 100% first years when they were. And then the money pours in. And then depending on when you came in, you might not have even made money with one of these guys with a great record. Not true here.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think you're about half a percent ahead. Well, and I will say because I believe that numbers are numbers and you don't fool with numbers. I did go to MIT. But my first year, I was down 26%.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Hawks is an umbrella family office, venture capital, all that stuff. We do have a fun, though. My older son is now the managing partner of. We call it Acadia Woods, and it's increasingly showing up in the holdings of some very interesting companies”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I care about solving the world's problems and getting rich while doing it because I think the two actually do work together.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, Mario and I took a course from Roger Murray, who was the guy who reinstituted the value investing stuff at Columbia. He got one grade higher than I did because it was analysis of a company where it turned out that the really key factor was the old man who found it was going to die And then value would be created, which Mario is fantastic at. I thought that was disgusting. I mean, I really am interested in people who are alive and doing things”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It's been exceeded by a couple of other guys now. No, my My success in life is taking a decent expertise in technology and combining it with finance and trying to apply those two things to help companies aggregate capital and grow and create jobs. And so I'm one of those guys who believes in all of that good stuff”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's a lot of intellectual firepower in that field. I learned to learn more in LeCarpool than I did at school. Don't tell the school I said that. I co-chair the board there too. By the way,”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I got out of MIT in 62, and I was working as an engineer from 62 to 65, someplace in that time period. CompSat launches, the company goes public, and I'm fascinating. It's like, my goodness, all this stuff that I know I can apply to making real money.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, it's sort of interesting how I made the transition. I wasn't going to go to graduate school, but Lockheed would pay for it. So I said, sure. You got to pay for it? I'll do it. So I went to Stanford. And it was during the day. And on the way back, I would stop off at a brokerage office. And it was the time when Compsat went public.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“So the US launches rockets, satellites come off of those. They look down on Russia back then and they have infrared sensors and they find out where. The Russians are launching rockets, and there's a lot of orbital mechanics. And I consolidate the equations, but did I really have any clue as to what was actually going on? I quickly found out that I did not.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“You got to follow your passion. You got to follow your competitive advantage. And I quickly found out that I could solve the equations, but I had no idea what was really going on. I worked in missile attitude control. So these were defined.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source