YouSaid · the spoken record

Nicolai Tangen

lines on the record: 81
first: 2024-03-04
most recent: 2024-03-04
sittings or episodes: 1
sources: podcast

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“I don't think people, you know, I really don't think people are mediocre. I think people are fantastic. And I think in a world of AI and so on, we need to lean in more on the human beings and what it is that make us human. Empathy and that's empowerment, encouragement. What never ceased to surprise me is the type of power you can unleash if you give people responsibility and trust. That just makes me so optimistic about the future.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Think long term, do your own things. Don't try to be like everybody else because that's not going to make you very happy. And by the way, as an investor, there isn't going to be any money there either.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“During the financial crisis we were invested, as was in my previous company, invested in a kind of a subprime lender. It's a shitty business. Bad businesses attract bad people. And the world's accounting fraud and all that kind of stuff. And we just lost a lot of money. So I would never invest in an ethical or any company that did anything that wasn't really good.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“The kind of thing anybody's done to me must have been my mother who spent some so much time with me and who in a way was pretty sacrifying in the way she did things. And I think, so generally speaking, I think mothers are just the best, you know?”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“I listen to a lecture by Mark Andresen at Stanford many, many, many years ago, and he said, you know what? If you have these two X's, one is right and wrong and the other one is consensus, non-consensus. All the money is where you are right and non-consensus. I'm really excited because I am going to meet Mark Andreessen in March.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“I go to the gym, it may not look that way, but I go to the gym three days a week in the morning, and then I go in the winter cross-country skiing every weekend, Saturday and Sunday.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, so the cool thing is, I don't have any, the dates are not similar, but I wake up at, let's say, a six or before six, I read a lot of papers, and then I go to the office, I have just different types of meetings with my colleagues, the investment colleagues, the ministry. I do a podcast a week. It's just so varied. Unbelievably varied. We have offices in London, Singapore, New York. I travel.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't particularly like to be hated, but you can't always be liked all the time. But ideally, what you do is going to make you better and perhaps liked in the long term.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Also, changes with age, right? I bet when you started, you would not ask about parenthood. And fatherhood, because there was none your agenda. Now clearly there is”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, you need to follow up, but at the same time, you need to move it forward. And in that combination, I think it's important.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, I do. And the thinking was you know what? We are a big fund. What is transparency taken to the extreme? Well, that's showing all Norwegian people what they own. I thought we potentially have access to all these fantastic CEOs. Not many other people have. And certainly not many other Norwegian podcast people had access to them. And so we started it. We thought it'd be good for the general listeners. It'd be good for CEOs. It'd be great for students. We got tens of thousands of students listening. And it's proven to be really good for recruitment too. So the applications now for our positions in New York and London have just gone up.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“They were crystal clear. One, it needs to be performance focused. We needed to be focusing on performance because otherwise we will just not have a reason to exist. Then it was the people spent more time on developing the people, inject more love and care, and then the last thing was communication. More communication internally and more communication externally. So we had three things.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Just trying to make too much change in the organization. You could just feel that the organization didn't want to do it. And it's very important. You don't want to trigger the immunity system of an organization. So if you try to do too much thing, the whole organization just tried to expel you. It just wanted to get rid of you. You're a nuisance, right? As if your body was trying to get rid of some bacteria. And so that's why you shouldn't go too fast.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Know one I'm really fond of is a guy called Albert Benny in Switzerland. He's the chair of both a company called Lonza and Gebret. And I did a podcast with him. And actually he was the first guy I rang when I got the job in the Zomenhol Fund. And I asked him, Albert, I just got a new job. What should I do? And he said, well, you need to talk to a lot of people in the firm so that you get better data points so that they get to know you because they don't know you. They need to get to know you. And when you investigate change, it's easier to get through when they feel they participated. And you need to talk to people who are, you know, the same level as you, below you, all parts of the business. Then you need to decide what am I going to work on here? What am I going to change? Pick a few things. Not many people, put it through together with a whole leader group and don't go too fast. The people who fail are people who try to do too many things too fast. And there were a couple of times in the beginning after I got the job where we clearly were moving.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Language I tried, I did speak some languages when I was younger. I tried to learn Italian many times. They just didn't really sink in. I just wish I could have learned more languages when I was younger.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh my, there's just so many things and there is so many things to know and to learn. And there are so many areas where I know so little.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, yeah, absolutely. Yeah, sure. I mean, if you are a complete moron, it doesn't work. You must be genuinely not stupid. But as long as they've got no...”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, the most important thing is to admit mistakes yourself. You have to stand up, admit mistakes. That's the only way to make it safer for other people. And it's very tough. But the interesting thing is that if they think that you are pretty clever generally and you admit mistakes, do you think they trust you more or less? They trust you more. It's a fantastic thing to admit mistakes.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“I think you have pretty. You work hard on parenting for some years, and then I think it's really hands-off. You need to just let them lose, support them in what they do, make sure they know that you're proud. I've been very lucky to have a wonderful wife who's spent a lot of time on the upbringing. So that's been a big thing, a big gift.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Okay, so I asked Jens on Huang, the CEO of Nvidia. You know, how much do you work? Is it Nikola for his hard work? And then there is insanely hard work. So I said, okay, what about you then? I work insanely hard. I work every day from a wake up at 5 until I go to bed at 9. I work every weekday, Saturday, Sunday, every holiday. I work all the time. Wow. But when do you relax? Yeah, but I relax all the time, I said, because I love what I do. And I think if you really love what you do, it's not going to feel like work.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, we have the fund to safeguard it for future generations. And so it's an investment fund and it's kind of a backup fund, right? It meant that during COVID you could pay for various efforts and so on that many of the countries couldn't really do. It's a combination of the two. Now, the government can spend 3% of the fund every year and it funds roughly 20% of the state budget. So it's very, very important in terms of funding everything that goes on from hospitals to schools to road buildings and so on.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“As a firm? Yeah. We have very, very good people who feel very strongly about what they do, who have a passion for what they do, who are proud to work on behalf of the Norwegian population.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“So culture you can have even more speed, you can have people taking more responsibility or even deeper sense of engagement. But, I mean, generally speaking, it's a phenomenal firm.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, I think we have a good culture, but culture can always be better, right? And so you continuously need to improve the culture. What could be”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“If you're a small investor and you only own a couple of companies, you can hide from the climate problems. If you own the whole world like we do, we own 1.5% of all the companies in the world. You cannot hide because you got one company which pollutes, you pick it up in the rest of your portfolio. So you need to care about the environment. You need to care about the future of the globe. Because taken to the extreme in an uninhabitable world, the value of your investments are zero. So we really need to care. And that is why we care deeply about the climate and why we work with the companies we are investing in and why we are in continuous dialogue with them, why we vote at AGMs, why we have a very fixed policy tools.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Everything. I mean, you have to question everything. You have to question what is happening with inflation, what is happening to valuations, what is happening with technological innovation, what is happening to geopolitics, where are the risks, what's happening to the political situation. We got elections all over the world. So there are a lot of things to be uncertain about.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“I think the importance here you need to be stubborn, you need to question yourself all the time. You need to be confident, but at the same time, you need to be a bit insecure. So it's to get that balance right. It's tough.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't know. I don't know. They have some issues. They have deflation there now. The growth is a bit slower, but there are a lot of people and they are very hardworking.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“So it's the worst we've seen. So, have we seen the law in sentiments? So that, I don't know. But if you look at where our sentiments really high and where are they really low, Kayleigh US offices, so real estate, very low. China, very low, US tech, very high. This is pretty obvious.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, we are invested in China. We invest in great Chinese companies and many of them, which are good. If you think about, if you look at the sentiment towards Chinese companies, it's pretty rock bottom, right?”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“We will not hold Bitcoin. It's not in our mandate, and we have no wish to have it, I don't think. And also, I'm not quite sure I fully understand all the implications of Bitcoin, but it's not an alternative for us.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, there is a reason why you have regulations, right? It's to prevent the not on financial crisis. And so it's put there for a reason. Is there too much regulation? I mean, there could be in some areas. But generally speaking, regulation is not a bad thing. It is, of course, holding Europe back compared to the US. Now, there are several reasons why Europe is growing less fast than the US. It struck me, I spent a month in New York in November and met with a lot of companies. And there is a different thinking about speed, different thinking about risk, different level of ambitions. You know, in Europe, 5% is a high number. In the US, it's a low number. In Europe, if you fail, you are generally not given another chance. So you have some mentality.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely, but the thing is that the more uncomfortable you feel, the better it probably is. And so as long as you know that, that takes away some of that uncomfortable feeling.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Very, very important. And so when you look at the best investors in the world, they are stubborn because you need to be stubborn and you need to be able to sit with your positions. But when facts change, you need to change your mind. And the combination of stubbornness and agility, it's a combination which very, very few people have.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, no, I think in that particular case it works really well. I don't think, hey, I mean, it's not like capitalism is solving all the problems and it's creating its own problems, but it's got some pretty good and well-working mechanisms.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so I don't think too much about it, to be frank, because I suspect it will take care of itself because we have commercial players here, and I just saw that AMD is launching a new chip, which is even faster than what was available before, and so I suspect there will be chips. If they're not enough, then prices will go up, and then one will consume less.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think we do better analysis. We do better follow up with the companies, we do better work on the voting. I just think you improve the quality across the board.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think it's huge. I think it's fantastic. So I ask him, I say, hey, we want to improve productivity in the fund by 10%. What do you think about that number for the next 12 months? And then he thinks a lot and he says, no, I think it's too conservative. I think you should try for 20% given how many developers you have. So now I run around in the firm and your son. Hello, guys. How exactly are you going to improve your productivity by 20%? Over the next twelve months.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Because I felt that we were looking into the future and that he knew what the future was going to look like. And he has more visibility into it than most people, at least for the next kind of three, five years.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, the easy thing here is we only do companies with a stock market listing. So even if we wanted to, that wouldn't be sweetie. I have to say the podcast I did with Sam Altman was really, really interesting.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, we are quite close to the index the way we invest, so we would own all the big companies. Our biggest position is Microsoft. Very big positions in NVD.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“No, it's interesting. So now, for instance, in AI, it takes, it's so expensive to develop the new models that if you're not already a big company, you have difficulty doing it. There is an argument for this continuation of the window takes it all just continuing. I just don't know.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, it's very concentrated and you have the market cap of individual companies which surpass the market capitalization of all the Swedish companies, for instance. So they are bigger than singular countries. I don't think it's good or bad. I think it's just a function of this being a platform economy where if you own the platform and you have this eyes, you just gain more size.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely. So before we had Daniel A, because Spotify on, you know, I have to learn about the music industry. I didn't know so much about it. And before we had Nvidia CEO, well, I had to learn about microchips. And so it's just a fascinating learning experience. Oh, Bill Gates, you have to learn about a lot of things because he knows so much about so many things.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“I get help from the great analysts who I work with, but I also prep myself. So I sit during the weekends and I think it's really, really cool, right? That's why it looks like.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“The important thing with learning is that you need to be curious and you need to learn as many different things as you can from as many different type of people. When you look at the social psychology studies on this, the more different type of friends you have, the more innovative and the more creative you become. Very, very important. Now I consume a lot of newspapers. I listen to podcasts. And I also learn a lot from our own podcast because it forces me to prepare for various industries and various CEOs and so on. And it's a very, very important part of learning.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so I need to be a bit careful when I talk about central banks because we are situated in the middle of central bank. So when I talk about central banks, I never talk about the Norwegian central bank. But I think it's interesting to look at the central banks and I have previously said that I thought they were a bit slow to increase rates. Now, I think that's the opinion that many people have and they have admitted it themselves, so I don't think it's particularly controversial to say. And to me, the question is just like, what kind of alternative data do you use? Do you speak to the CEO of companies and ask them what they expect for the next 12 months? And historically they haven't necessarily done that. I think they probably will do it or are already doing it more. And perhaps that will improve the decision making.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“It's a political process, so the ministry is asking us for advice, i.e. the board of the central bank. Then they give advice, then they go through the political process and discuss it with the politicians, and then they come back with a white paper. So it's a very thorough and really solid and impressive work.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't feel we have much constraints. We're a large fund, we have a public sector fund. For the moment, we cannot invest in private equity, which I think we now have this political discussion and we have arguments back and forth with the ministry. So we'll see what comes out of that.”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source
“Arnot per se, not per se. I mean, Greedis would drive a lot of people, I mean greed is a negative word for aspiration and wishes for a better life. And so the word greed is a negative word. But the wish to create things, to make the world a better place, all these kind of things, that's positive. It's a positive drive. I mean, it's cool that people want to establish things and make things and show the world”
2024-03-04 · The Twenty Minute VC · 20VC: Managing the Largest Sovereign Wealth Fund in the World: $1.55 Trn of Assets & Owning 1.5% of all Listed Companies with Nicolai Tangen, CEO @ Norges Bank Investment Management · IDENTIFIED FROM THE TRANSCRIPT · source