YouSaid · the spoken record

Kate Moore

lines on the record: 101
first: 2025-07-03
most recent: 2025-07-03
sittings or episodes: 1
sources: podcast

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“I thought there was a more systematic way to approach investing when I first started, you know, close to three decades ago. And now I understand that true investing is both art and science. Maybe that's the reason why I think I'll stay in this business for the rest of my life, because I'm constantly intellectually challenged to not get frustrated if a model doesn't work out. In fact, sometimes the process of going through creating a model or a piece of analysis or going down a rabbit hole in research that doesn't yield anything this year may actually be really helpful for me in three years or help to reframe my thought process. So understanding that it's not perfect and that it's art and science.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I would say the most important thing is to keep an open mind. One of the most frustrating things, you know, young graduates and even young graduates from business school or other graduate programs is that they have like a path in mind. You know, in three or five years, I expect to be here in 10 years. And I say, keep an open mind because there's so much disruption and so much change across these industries. You can't have a mapped out plan. Your goal is to be a sponge and to learn and learn and learn and also to be patient, honestly, Barry. I'd say this a lot because, you know, you get some like really smart 23, 24, 28 year old who wants to find out what's over the next hill. And I want to remind them, you know, if the actuarial tables are even somewhat right, they have 70 more years of life ahead of them, right? And they don't need to rush. They can enjoy the moment of learning, enjoy the experience and understanding that not just they'll have the opportunity to pivot, they'll have the mandate to pivot.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely, but you cut out the stuff that's not important and you focus on the things and the people and the experiences that are. And anyway, I love this book.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, and this idea that we are all every day approaching our death is actually empowering instead of discouraging. If you know that you don't have infinite time, you make better decisions, frankly.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“So good. And as someone who's tried to optimize my life many times in the past, but have had a couple health setbacks and things like that, this was a great reminder that getting through the to-do list is not the goal.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, the one that's really kind of stood out to me, and it was recommended by a former colleague of mine from BlackRock, is 4,000 weeks.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, it's so good. It's amazing. And thinking about this intersection between bots and AI and the future. And there's a lot of inner dialogue in there that I don't think will translate well into a series. But anyway, neither here nor there. So I love to read that. Before I am on book six now, before I started that, I read the latest from Tana French, which is called The Searcher. And the hunters had two books together. It takes place in Ireland. She's one of my favorite contemporary fiction authors. It's like these are mysteries. And so I love that. And yeah, I pretty much gobble up anything that will make it onto the Hugo or Nebula shortlist. And try and geek out as much as possible.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't know that I had a lot of official mentors. I will tell you I had more peer mentors, if that makes sense. You know, growing up in the business, I was often the only woman in the room or the only woman on the investment committee. And I built really strong peer relationships with other investors of similar levels around the street. And there are a lot of people who've helped to influence my way of thinking or have challenged me. But yeah, I mean, I try and be a mentor to as many, especially young women as I can in the business since I didn't have that available to me at the time. But I wish I had a long list of mentors, but I would say it's more my peer group that I've really linked arms with and grown with that I think of as kind of playing that role for me in my career.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I try to be shockingly healthy. I also try to put my devices down and be focused on other things because. I get enough screen time during the day”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, it's not really my jam. I do watch things sometimes a news magazine or whatever, but for the most part, I am just an avid reader. And I like to spend my time when I'm not working, reading, playing sports, listening to music, and I'm an amateur artist. But watching screens after being in front of screens all day long is unappealing to me.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Actually, almost all of the national parks have friends groups, and this grantee on National Park Foundation is the friends group for Grantita National Park. We are a very large and successful one, and we've Really helped a partner with the park on everything from like visitor centers to accessible options to rivers to redoing the trail system to sponsoring some of the biologists, et cetera. The park is run by the park, but the superintendent and the CEO Grantee Don National Park Foundation are close partners. And I like to think, yeah, we're the best friends group out there.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I actually split my time between New York City and Jackson Hole. I spend a lot of time in the Jackson community. I'm super passionate about the conservation and nature programs at Grant Titan National Park. And I've been on the Resource Council now for about three years. It is a kind of subboard of the board of Grant Titan National Park Foundation. And we do some really amazing things. One of the things I'm most passionate about are some of these wildlife programs and the money that we raise specifically for research that benefits some of the biologists in the park and also that all of the visitors to the park can take advantage of. My favorite thing to do every summer, Barry, is the wolf watch, which we do some days during August. We'll go up with a biologist to this bluff and we will watch a pack that lives in Granty Don National Park and learn all about wolf habitats behaviors and changes in their patterns.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Know, you may make a different set of decisions. Some of that might be good for the long term, and some of it may be just like a poor allocation of capital because no one's calling you out on it because the capital's already locked in. So I would say this 85% of companies that are still private, that the alternative managers are excited about giving you exposure to, not all of them are the same quality as the publicly available large cap mega cap companies.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, the narrative is like 85% of US companies are actually still private. And so it's really important to have all these vehicles to access them on the equity, on the credit side. I hear that. But there are certain major differences, of course. If you're a private company, you may continue to need different types of funding. You don't have to disclose to your shareholders on a regular basis. Of course, you don't have to deal with the stock price fluctuation and all of that, what that might mean for your employees who are paid and shares. But it also creates a complicated environment where when you don't have to disclose, when you don't have to report,”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, or at least more vehicles that allow for individual investors and family offices and things like that to invest in these types of vehicles, right? You don't have to set it and forget it for like 10 years. I think there's going to be a lot of demand, just as we've seen, say, traditional mutual fund transfer into ETFs, active ETFs, there'll be more kind of combined vehicles. The challenge, I think, is that there's been so much money, and we know this, we've got great data on this, chasing like a small number of deals. And it has become so popular to think about alternatives as an asset class that the returns that some of these strategies have been able to achieve in the past, I think are much more challenged in the future.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah. Let me answer that second part first. I think the evolution of this broad bucket of alternatives is going to be towards more liquid expressions.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“And I think the market has become even more short attention span if we can personify it here. And as a result, the narratives are shifting very quickly. This is why it's really important that when you're thinking about portfolio construction, to anchor on the right, asset class and factor exposures, to layer it with more medium term thematic alpha generating ideas, and then offer some balance to the portfolio, either in less correlated assets or in expressions of the asset class or factor that has a different duration.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely. The narrative changes. Sometimes it feels like on 30 minute increments. You know, it used to be you'd have a couple weeks of a narrative taking hold. I know many people think about this, but the market can really only focus on one thing at a time. One major narrative at a time, and that's where you end up seeing the bulk of the price movement, for example. Is it around tariffs? Is it around inflation data? Is it around Fed expectations? Is it around the technology conflict between the US and China? Is it around some geopolitical But it's not going to be all those things at once, even though I would argue all of those things are happening concurrently.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Right. We have a real risk of some of these important raw materials and these important consumer goods and these important medical goods, you know, Not being adequately supplied. And so we have to really watch this. So I will say this, that the tariff side is not going to be resolved over the course of the summer. And because it's going to bleed out for longer, we may have slower growth, but not catastrophic. But eventually we'll have some really big sectoral consumer and business impacts.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Gotcha. Pharma, copper, steel, all of these sectoral tariffs are much stickier and have much greater potential impact than the country to country bilateral reciprocal tariffs”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“We don't really know how bad it's going to be quite yet. And this is why, of course, companies have been reluctant to significantly change their guidance and their earnings revision ratios have looked better than some people expected. Here's what I will say. Even if the reciprocal tariffs don't hold up and they end up going to the Supreme Court, and that's a decision, the sectoral tariffs, which take longer to implement, are much stickier and frankly have much larger...”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Okay, so around tariffs, any given day that we'd be having this discussion, there would be, there's a new set of news. One thing I do know is that we have a series of deadlines over the course of the summer where people are hoping for some level of resolution. And the way I talk about this, Barry, is this, is that we may be past peak tear of shock, but we are nowhere close to peak tariff pain.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Expecting some soft pockets throughout the second half of the year, not recessionary, but kind of like sub two percent, sub one and a half percent growth. I think we should buckle down for. And that's where I expect more durable earning stories, secular growth stories will outperform the rest of the market.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, of course. I mean, I'm shaking my head as you say that because it's absolutely right. The soft data into hard data in a normal period, you know, gets translated over inconsistent time periods. So there's not like a map that says like, hey, the soft data does X and then three quarters later or one month later, it translates into something in the market or some other hard data and economic activity. So it's always a bit of an art interpreting the soft data into the hard data. And yet it's really important to pay attention because it may impact the marginal decision. Right now, the soft data has went from catastrophic post the April 2nd to tariff announcements to really awful to maybe a hair better, but still pretty bombed out. And as we've talked about, the economic data has stayed somewhat resilient. That doesn't mean that economic data will never show weakness. And again, I'm.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“So we were talking about valuations earlier and financial services and kind of banks more specifically kind of dragged down overall market multiples when they were a huge part of the market cap for the US large cap indices in the past.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, well, I can talk a little bit about City because we've had some pretty awesome operating performance. And there are a couple things really driving that, of course. You know, there's been a real focus in terms of cost and expense. This is not just city. This is across the board at major financial institutions. And frankly, investment, investors really love this. They want to see that discipline continue. Number two, like the mix shift has actually contributed to earnings. And I think as you well know, wealth has been a huge driver for many of the diversified financial services companies. I expect it will continue and I'm looking forward to wealth being an even bigger driver for city over the next couple years. And then I think there's another element too, which is that the speed and sort of the facility that management has in toggling between different types of business for different parts of the cycle has significantly improved relative to how people think about banks 15 years ago.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“100% It plays a huge part in the way I think about this. So, you know, no company has an incentive to talk about how concerned they actually are publicly because the first one that does it will be penalized.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“And they lag their peer group and they look weak relative to the rest of the industry. Wow, that makes people lose confidence in that management team. So there's almost an incentive for management teams to maybe have contingency plans to talk about that with their board and the rest of their leadership, but not necessarily communicate that with the investment community and keep operating with only a tiny bit of defensive action because there's going to be a penalty on their stock price and frankly in the confidence people have in the management team if it looks like they're being too emotional and reactionary.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“As some would have liked. Okay. But I think there's another element to this too. And this goes a little bit into kind of corporate behavior and how investors react to corporate decisions, which is, you know, if a company And that doesn't actually show up for multiple quarters.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, and I think there's another element to it. I do think this administration inherited a resilient economy, one that was perhaps underappreciated over the last couple years because not everyone was feeling that resilience in the same way or wealth creation wasn't as broad.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“So I get this sort of paralysis that's playing out in terms of the market, in terms of corporate behavior. And so I'm a little, I wouldn't say worried about a recession, but concerned about much slower activity in the second half of the year.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Number two on the labor market. We've heard a lot of people talk about it being frozen. Yes, there's still some hiring. But when you look at kind of the composition of the hiring, it's not as exciting as it might have otherwise been in a policy risk-free economy. And I think companies have an incentive to kind of keep their labor force where it is without really expanding because they don't know if that's going to make sense for margins and stuff going forward. And then the third thing I would say is, you know, companies need to ask themselves, what should my supply chain and what should my corporate relationships look like over the course of the next couple years? Because the truth of the matter is if they have to realign them, it will be a significant cost. It will take a ton of time and take a ton of energy. And yet if there might be a policy shift either at the midterms or under a new administration, the incentive to make these multi-year investments is low.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Tariff announcements. Companies don't have an incentive to do a bunch of different things, and that is engage in real CapEx. They'll spend what they need to to stay in business or to maintain or things that are absolutely necessary, but they're going to prioritize. Expansionary CapEx and acquisitions, I think, are off the table.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Despite all of the shocks on headlines around tariffs. And consumers may have pulled forward some demand, but they're also kind of operating BAU for the most part. There's not been a significant change. And yet we know that the introduction of these tariffs and the risk aversion that's a result of these tariffs and changes in policy and changes in expectations for global supply chains is going to lead to some weakness in activity. The thing I just want to point out is like going into the end of 2024 and the beginning of 25, I was also a little worried, frankly, that the economy was slowing. Not catastrophically, not recession style, but there were enough cracks across the consumer and enough indications from companies to basically suggest like this was not going to be an accelerating year even before these policy shocks. And now I think despite some adjustments, you know, immediately after.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I have to say 2025 has been a tough year for anyone. And it's also been a tough year candidly for me to start a new job. I like to say that every time I start a new job, there's some big volatility event. This one might be the biggest. And frankly, totally self-induced as opposed to some kind of exogenous or external shock. So it's been really difficult to navigate through this market. And yet, you know, there are some things we can still anchor to. Paying attention to what companies are saying about their businesses, this kind of sort of sentiment stuff we were talking about a moment ago, looking at the long-term trends. This all leads us to say like, okay, we can still be invested. But I am deeply worried, Barry, about what's going to happen to the economy over the summer and into the beginning of 2026. We know that companies have been operating more or less BAU, business as usual.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“But so we do maybe need a Z score the sentiment right now. Let's just put it that way, we have to adjust for this declining overall sentiment. But what I'm talking about sentiment, I also like I'm trying to infer sentiment from price reactions to different news. And that might be a better gauge in some of these surveys where people can say, you know, the sky is falling, but then just book a carnival cruise, right? Like, you know, the... And if a stock puts up pretty good numbers in terms of earnings but doesn't beat by huge margin and falls 15%, you can tell that like people are at the edge, right? And so you have to kind of correct your own equity exposure for that type of behavior. But your point's well taken on you, Mish, and on all of these other surveys. There's been a generalized decline. We have to correct for that.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“There's a local channel I've watched that will do one good story after they've just reported a bunch of like murders and everything for the previous 25 minutes. The last story is like they're trying to leave you on a positive note. I'm thinking like, okay, but the skew is definitely really negative.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I this is a tough one, but I honestly think the newsflow, how media portrays recent events, the echo chamber on social media, the fact that people are not getting a broad-based view. Do you see all these traditional news programs now that are trying to dedicate one night a week or whatever the heck it is to the good news, right? Is that true?”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely. So, you know, that seemed really disconnected from reality. So sometimes you have to discount all of these things. But your point is well taken. There has been a generalized sentiment deterioration. And you've seen over the past couple years this massive decoupling between expectations for own company over the next six months where the CFOs are going like things are pretty good actually and expectations for the economy where they're like the economy's in trouble.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“We're still going out to restaurants, even though we think the world is ending. Yeah, New York, you're absolutely right. So any single sentiment indicator or survey needs to be discounted, right? We need to combine all these things and look at it kind of on a moving average of a number of prints. Another one that kind of flagged for me was the conference board. Which hit the lowest levels from like September of 2011, you know, last month. And that was a crazy number, right? Because September of 2011, we had just gone through this debt fiasco. We were going to operation twist.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely. But kind of instilling that in my team is really important because it's like, great, I'm so glad you think we're going to have $263 of S&P earnings this year. If consensus actually thinks it's $267, we should know that too. But if the printed number is 267, but everyone's just dragging their feet on cutting the numbers and they're actually at 255. That makes a difference in terms of how people take risk and respond to different news. And so. You know, kind of putting all these pieces together, doing the work, understanding what like written or published consensus is, and then getting all these kind of sentiment inputs to really evaluate what is the whisper, a real number versus what's published.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“But he said, you know, number one, the first order to getting things right is like having a good forecast, right? Let's just say you have a forecast for a stock earnings. The second order is to understand what consensus thinks, right? And comparing your number against that. But to get it really right in the market, you need to understand what consensus thinks, consensus thinks.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“And just try and understand what's capturing the attention and energy from different client segments. But I also pay a really close attention to, frankly, how the market responds to different types of news. And that gives you a good sense. You got to have your finger on that pulse. You know, I learned this from someone in Ben Hunt, who you may be familiar with. Epsilon Theory. So I learned this from Ben years ago.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, this is such a tough one, Barry, because, you know, this is where understanding kind of the positioning, the technicals, and the biases really differentiate a good investor from maybe a less good investor. One of the things I try and pay close attention to are all of these sentiment indicators. The dashboard for sentiment indicators continues to change, right? Sometimes we look at historic filings, but we know that mutual funds and hedge funds change their positions really quickly. Sometimes we look at the volume and the flow. I like to pay attention to more kind of third-party and coincident things like what's being discussed and different social media or on different Message boards or whatever”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Maybe it's around specific geographies, mission aligned. I mean I think the flavor of investing is changing, which also makes us super exciting. And then finally, I would say, again, the breadth of investment instruments that are available to individual investors and into wealthy families is actually really exciting because you can do cooler things than just a 60-40 portfolio, which was kind of the way wealth businesses ran in the past.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Post financial crisis. 15-year run. Absolutely. And big concentrations of wealth. And frankly, a lot of very wealthy families have held a lot of this wealth in cash or in cash equivalents or have reinvested in their business. I think there's now an understanding that they want to diversify. So the investment opportunity sat for all this wealth creation is huge. I'd say there's another trend, and I'm sure people have talked about this before with you, which is like the transfer of wealth that's going to happen from the boomer generation to my generation, and then ultimately to our younger generation. And the values and the interests on the investing side change from generation to generation, the types of risk clients want to take, the types of like bespoke opportunities and private stuff that they want to do. Maybe it's around, you know, environmental, social governance stuff.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, there's a bunch of different drivers, Barry. I'd say, you know, first of all, there's been an enormous amount of wealth created, we know, over the last, you know, 10 years. It's longer than that. But let's just say in the last 10 years.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, we want to think about what is the right combination of both asset class and factor exposures for clients in different risk profiles. And how do we implement in an interesting way in that space? So it's not just like, hey, we have a large cap stock fund or we have a mid-duration bond fund. And this is what we're kind of combining together. This is really about. What are the best expressions of each of those things? How much of it should be beta? How much of it should be alpha seeking, whether it's sector specific or thematic? What is the best implementation and alternatives? And particularly as we get more liquid alternatives available, that sort of diversification in a portfolio is going to be kind of democratized. And we're going to see more and more of our clients across risk spectrum be able to access that.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“So, I think there are a couple things. We have a lot of amazing raw material at City in terms of human capital and, of course, our clients. But thinking about how to invest. In a different way than perhaps my other wealth competitors invest is one of the greatest challenges and opportunities. And here's what I will say. You know, I want to examine the way that we're approaching discretionary multi-asset class asset allocation products, right? Just to sort of set it and forget it, here's your stocks bonds cash. I'm not sure is going to be the right.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source
“It is somewhat of a concern, and I think it's more of a concern for kids who are going through school and are incredibly specialized about what they're studying. And this is kind of a flag, frankly. I would say to people you don't want to just take courses in one discipline. Your job as an undergrad, and I would also argue even in grad school, even in MBA program, is to learn how to think and learn how to ask questions, to get exposed to as many different disciplines as possible. So I tell like young folks, like, you ought to study philosophy. You should also study things like art history because there's context behind it. You should study things like, you know, hard sciences because, you know, it gives you a discipline in terms of the way that you're thinking. You should take a music theory class. I mean, do all of this. You want your brain to be flexible and pliant. You want to be able to approach the problem by using these tools in unique ways. And people who are only point and shoot only have one specific way of approaching an investment problem are often wrong.”
2025-07-03 · Masters in Business · Citi Wealth Chief Investment Officer Kate Moore on Macro Investing · IDENTIFIED FROM THE TRANSCRIPT · source