YouSaid · the spoken record

Jason Schwarz

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59
first
2019-01-04
most recent
2019-01-04
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1
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podcast

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  1. “We have about $180 billion in assets that we advise on for what we call financial intermediaries. And these are organizations, financial institutions, that ultimately serve individual investors. And so this really for us, for our organization, stems from the work that we've done in the institutional space. So we talked about the Wilshire 5000. Wilshire's first decade in the 1970s was really as one of the early pioneers in applying technology to solve investment management problems. And so the Wilshire 5000. I have to interrupt.”

    2019-01-04 · Masters in Business · Jason Schwarz Discusses Asset Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “Right. And I think the other key theme in today's environment really is around private capital. Right. So companies are staying private for longer and are able to do so without needing to go to the public equity markets to raise capital. So there is the IPO environment has not been what it was in the 90s. And so therefore, there are roughly 3,500 publicly traded securities today. Sure.”

    2019-01-04 · Masters in Business · Jason Schwarz Discusses Asset Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “So you're correct that there's just under 3,500 stocks today in the Wilshire 5,000. The Wilshire 5000 was created in 1974 and at the time it was the first really broad based measurement of the US equity market. And still today when people refer to the total US stock market, they're often referencing the Wilshire 5,000. So it was a really important innovation for us dating back to the 70s. And the reason there was roughly 5,000 securities when the Wiltshire 5000 was launched. The peak was, as you probably know, about 7,500 securities in 1990. Right. So that was in an environment where companies were racing to go public, right? To say the least, to say the least. And so, you know, post.com crash, there were a number of delistings. There were companies that clearly went out of business. So that dramatically lowered the count.”

    2019-01-04 · Masters in Business · Jason Schwarz Discusses Asset Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Collapse. Certainly. Right. I mean, it was, you know, we were still, we had all through the 90s were raised on, you know, go, go grow stocks and technology. And so it was a completely different paradigm shift. Value was obviously doing well, but small caps and growth were not. But what was interesting is for me, Really, within investment organizations. And so interestingly, I had at that point developed a facility with numbers and was kind of studying the space and all of the modern portfolio theory. But I had realized that where my passion really was at that point was not so much being an analyst in the trenches with the numbers every day, all day. If I could, gosh, if I could get a role that allowed me to engage with clients and do some of the other things related to working in this industry, wouldn't that be great?”

    2019-01-04 · Masters in Business · Jason Schwarz Discusses Asset Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “How Workout. That was great. I mean, that was, you know, I owe a huge debt of gratitude to that program and the Professor Su Pin Ku who worked with us. It was a great opportunity. And we were divided into a few different teams. There was like a mid-cap group. There was a large cap group. You know, some folks in the community had donated money for us to, you know, kind of mess around with and experiment with.”

    2019-01-04 · Masters in Business · Jason Schwarz Discusses Asset Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Two floors of this gorgeous building looking right out at the ocean, and we're being hosted by a number of folks at DFA, and there's maybe 10 of us. And we're sitting in this boardroom looking out over the ocean. It's maybe 80 degrees. The beach is packed with people. Spectacular. Spectacular. And I reached to my. A friend who's sitting next to me, Craig Greenwald, and I said, Craig, I don't care what I do. I just want to work in this building. And so, you know, flash forward two years. I was working as a management consultant because I just, I needed a job after business school, and that seemed like a respectable thing to do. Sure. And I was still sending out resumes. And two years after business school, I'd probably sent Wilshire a bunch of resumes. I'd done some research. And it turned out Wilshire was in the same building as DFA.”

    2019-01-04 · Masters in Business · Jason Schwarz Discusses Asset Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “Was cast a wide net and was looking for jobs, I would say not necessarily in my areas of passion per se. And in my second year of business school, Barry, I was part of this seminar in applied portfolio management, which allowed us to kind of manage a portion of the school's endowment and really get kind of a taste for managing assets, managing money. And as part of that, we were able to visit a number of different investment organizations up and down the West Coast. And one of the firms that we met was dimensional fund advisors, DFA, which if you've ever been to their office in Santa Monica, they had at the time, they had the top.”

    2019-01-04 · Masters in Business · Jason Schwarz Discusses Asset Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “No. And as a 26 year old, it seemed like a nice place to park for a couple years. But as a New Yorker, I would then, you know, immediately return was not a place to stay. And after about three months there felt like this place certainly isn't so bad. And I'll say that's really where we all have sort of pivotal moments. And I was started business school in 2001, right? So post kind of dot com bubble. And, you know, job market was still tough. And after business school, I just needed a job, right? And I think like a lot of young people.”

    2019-01-04 · Masters in Business · Jason Schwarz Discusses Asset Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “Sure. So I grew up here in New York and was exposed to finance, investment management. I had an early kind of internship at an RIA, a multifamily office here that was engaged in some manager, research manager selection activities. So I had a bit of some early exposure to that, being able to sit across the table from portfolio managers and investment managers and really, really interesting. But like a lot of young people, I sort of had a number of career experiences in my 20s before I went to business school. I did a little bit of sales and marketing, a little bit of technology, a little bit of finance. And I got to business school and I chose to go to spend two years in Southern California. California at USC.”

    2019-01-04 · Masters in Business · Jason Schwarz Discusses Asset Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source