YouSaid · the spoken record

Tom Lenehan

lines on the record: 89
first: 2022-04-18
most recent: 2022-04-18
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

“Can really suffer and can permeate to the other side. So I started thinking at that time in 2005, is there another alternative where I can have all this terrific exposure and excitement to the direct world without having to kind of be on the front lines? So I was recruited by a firm in Connecticut that was miles away from where I started my career at Marsh Capital in a town called Wilton, Connecticut. It was Common Fund Capital. And the more, and it was part of the Common Fund for nonprofit organizations. At the time, when I was being recruited, it was a $42 billion AUM organization. And I said, oh, now I feel really stupid. That is the quietest $42 billion firm I've never heard of it. And I worked right down the street, literally down the road. And then, as I started doing more research and learning more about that organization in particular, I said, wow, what an amazing history. I think it was 1971.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“So I had just gotten married and just had our first child. My daughter, she was born in 2003. And when they're really young, there's not a whole lot that the dads can do except just watch and try to help out whoever they can around the house. But not a whole lot we can do to rear the child at that age. But as they get older very quickly, that tie turns. And for personal reasons, had felt that I loved the directs have the business, but it's incredibly intense and the type of business that I was working with, if you're fortunate enough to get one, to get a tiger by the tail, it takes over your life. I didn't love the fact that it can be kind of all consuming. And I did learn that from my analyst days, Becca Goldman, that everything else comes second. And so I thought, is there a happy medium where you can actually have a better balance between work and personal life? Because they're so intertwined in those types of careers. They're kind of one and the same. And if it gets to be too much on one end, then the other.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“Addition to executing the business, you needed to sell additional business. And I think that's the case with consulting, it's kind of the case with any professional service. Same thing with private equity investing. Eventually, you need to be a deal quarterback. And as I would say, you need to hunt. You need to catch it. You need to skin it. You need to kill it and eat it and then move on and do it again. You had to have all of those skills to be considered a true deal professional. And I loved it. And our group was pretty lean at the time. I think maybe in addition to Robert and Steve, there were kind of three of us as deal quarterbacks and maybe three associates. And that was it. So there was no limit on what you could do. If you wanted to go and jump on a plane and go down to Texas because you thought there was a great idea down there, chase it down and bring it home.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“But back then, it was just tough. You had to really kind of be scrappy. And what I loved about it was there was no, you didn't come in in the morning and have a checklist or a to-do list of things to knock off one by one. The only thing that you really could control in the world was your time and how you spent it. And so you had to be very judicious with it. But there was no limit. You could be as scrap as you wanted, call up the CEO if you wanted to. Find out who owns the company and use some of the skills you learn in investment banking, which is really learning to dig under the covers. Don't take anything for granted. Be critical about your thinking, test hypotheses, but dig deep and try to think of creative ways. And it involved, you know, I did very little selling when I was at Goldman. But that was, you know, if I had stayed there, that was absolutely part of the professional progression is you ultimately needed to.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“Very team oriented. So again, when I think of what Chris Cole taught me, when I think of what Jeff Greenberger taught me, there are no pre-subscribed roles or divisions if there's a hole that needs to be dug, pick up a shovel. So everybody who's working on kind of everything. You all had your own responsibilities and you're all in charge of your own timesheet. And so in what you thought you should attend to. But other than that, you can draw on the resources of the firm. And so if something was happening, and back then it was deals were hard to come by. And so there was no shortage of things that you could do, but in terms of things that you actually wanted to do, you had to create a lot of opportunities yourself. You would get tons of inflow from investment bankers and other types of deal flow. This was the cold call model was being implemented, but by a handful of the summit and TA type folks, they were the pioneers. Now it seems like it's complete commonplace for any group, almost any size. They have some element of kind of reaching out kind of cold calling.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“Sources of money, which I thought was always a good thing. That was the case at Marsh. That was the case at Goldman when I was there. And they were investing in technology-enabled businesses and services. So a lot of that translated into kind of pure software companies, but it could span across any industry. And it could include financial services. So all the time they hadn't done any financial services investments. The two investments that I worked on when I was there of the eight that we completed happened to be in financial services, primarily because that was where my network was. So I guess I didn't go too far away from the mothership, but it was terrific to be able to get back to a Goldman culture, if you will, with a lot of folks being trained in a similar way to myself.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“But I also like the technology. So I started, I wasn't a technologist, but I kind of liked this idea of what technology could do in terms of growth and in terms of margins. I could see that at least my 18 months as a venture capitalist, I could see what technology could do in terms of disruption. So did what I thought was a hybrid while FT Ventures was a bridge for me to get from kind of the old world into technology going to Vista equity partners, it was literally down the street, down California Street, maybe four or five blocks closer to the ferry building, that was a chance to stay in technology, but with companies that have a need to exist, have a right to exist, have existing customers more established. And Vista was a couple years old at the time. I think it was 98, 99, and I joined in 2001. They had just been around for a little bit. And they had one investor who provided all the capital. And so there wasn't fundraising involved. They actually had cap.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“I was in San Francisco and loved it being back out there. So that's why I kind of found my way back and didn't want to leave at the time. But it was a soul-searching moment. And it took 12 months for me to figure out that I was not going to be a good venture capitalist, 18 months to actually do anything about it. But for those six months, I knew it was without question and without most conviction that I needed to do something different. So I said, what do I like to do? I love doing the principal investing world. Coming from investment banking with that training, coming from PIA, from that year in PI, coming from Marsh Capital, I could understand and evaluate existing businesses way better than trying to identify the next new thing and maybe it'll work maybe it won't. But looking at something that has cash flows, that has revenues, that has customers diligent those, trying to understand what could be optimized if something is broken, what's broken, what could we do about it. That was much more my comfort zone.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“So you're at that moment. So you're now, you've gone down a path, this fantastic pedigree. I walk down the wrong road here So at that time, what did you do? How did you think about how to make that transition?”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“Think at the end of the day, for me, I wasn't a technologist, didn't fundamentally understand the technology or what it would take if it looks good in the demo, what does it actually take for it to work in the real world? So from my perspective, I was completely a fish out of water.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“And what was it about the process of venture capital that led you to think it wasn't for you? Because anyone could look at that landscape and say there's 25 companies doing the same thing. What am I supposed to do? And then you create criteria. You say, no, I want the most charismatic leader. I want the businessman who had past success. So there's ways you could filter it and make the bet anyway. Yeah. What part of the process did you come away saying, yeah, I'm not going to be great at this”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's right. That's right. The shortest tenure of my career. It was Tax Day, April 15th, 2000. That was the first mini crash of Nasdaq. And I kept on crashing throughout my 18-month tenure there. And so a great lesson that I learned at that time, not so much about, you know, don't chase the next hot thing. It was more so I learned about myself. I'm not a good venture capitalist. And it's hard.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“Marsh Capitol and started FT Ventures in March of two thousand. And I remember April 15th. That's what happened on my next week.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“Maybe we should take the money and run. Let's not look a gift horse in the mouth. That was in 99. So we did it. We made our money and moved on. And I thought in end of 99, this e-commerce and internet stuff is easy. Wow. This is like and ground zero was on the West Coast going back to California. So I actually was recruited to a firm called FT at the time. It's called FT Ventures Financial Technology Ventures, which is now called FTV Capital. They were heavy on the banking side, but they didn't really have anybody that knew insurance. And so they were looking for somebody to fill that gap. And I left.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“I remember talking to Steve Friedman saying, you know, what do you think we should do with this? I said, I don't know. I think we could probably take our bait back so we get our cost basis back and let the rest of it accrete and to see where we go from here because it's growing like a weed. And he said, you know, Tom, I think.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“Salt, nothing commercial at the time, you could go there. And instead of, you know, the good old days, you maybe would work with an outside broker. Maybe you would dial, you know, phone numbers and call and get comparison quotes. This was the first time you could actually go online and put in your personal information and you could get a comparison amount of quotes. So revolutionary at the time, given who we were at Marsh Capital, one of the larger direct insurance investors in the world, made sense for us to take a look at it. Long story short, we ended up making the investment. And I think it was relatively small, a couple million dollars, but we made, I think it was $4 million. We made four times our money in 18 months. It goes back to another lesson that I learned this time from Steve Friedman. We were on the advisory board. In Sweb ended up going public. I think in 1999, and we could have sold out in the IPO. We weren't a huge shareholder, but we turned four into 16 and thought it was easy.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“To PIA not knowing much, bumbling through life and just hopefully keeping your head above water long enough so you don't drown. When I was at Marsh, we came across a company called Softbank. And at that time, we actually knew they were big. They weren't this kind of small little group, but we said, wow, they're pretty big. And they're actually pretty big in this emerging area called e-commerce and e-finance in particular. They wanted to build, you know, it's a Japanese organization. They actually wanted to build a Koretsu of companies that would do online lending with Elon, that would do online stock trades with e-trade. They had this whole web. This was back in the late 90s, all kind of figured out. And they actually gave birth to all these different pieces of the puzzle, some of which are still around today. One of the companies they started was called Insweb. And Insweb was the very first online comparison shopping tool that you would use as an individual to shop for insurance. So if you wanted to buy auto insurance or homeowners or life insurance, all personalized.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm going to McKinsey. What is she thinking? That person is clearly lost. I'll say some of her books and maybe they sell CDs and that's it. Boy, was she the wise one? So technology was just coming out. And we had just had Mark Andreessen with Netscape. And then all of a sudden we had one of the very first e-commerce sites with Amazon. There just wasn't a whole lot going on in that space. And I was there at ground zero, you know, watching it all happen, but it was very early days. A lot of the venture capitalists out there, I'm sure, knew what was going on. But to the outside world, to the mainstream, it was going to take a little bit longer. So didn't know much about what was happening in the internet.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“So, this was, I was there from'97 to 2000. And in 1990, I want to say, maybe it was end of 98 going into 1999. So when I graduated from business school, there was a classmate who went to a firm that nobody ever heard of, thought there was no chance that they would ever exist in a five years from now, let alone 20 years from now, called Amazon.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“So, Jeff Greenberg, I use this a lot with my own team, and especially when we bring new people on board, something that will always stick with me. One of the things he taught me was when there's a hole that needs to be dug, pick up a shovel and start digging. And what I took that to mean was everybody's on the same team. We're all pulling together for the same goal. There's not this huge delineation in terms of roles and responsibilities. At the end of the day, there's one responsibility, and that's to accomplish whatever goal it is, whether it's the best risk-weighted returns you can generate, whether it's getting the IPO of all state across the finish line, whatever it takes. And I actually use that with my kids as well. That's a good one.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“Was at Marsh Capitol. And I didn't know this at the time, but the master plan was that he would ultimately become head of all of Marsh McClellan. And this was kind of the entry point. When he did that about a year and a half into my tenure at Marsh Capitol, Steve and Chuck took over. And so from my perspective, he went from one incredible leader to two. And folks that actually had even some prior history with. So that was incredible to be able to work with them. And Jeff was obviously still involved in the investment committee, so he still had access to him. And then a gentleman named Bob Clements kind of rounded out the four horsemen. And Bob was the father of the Bermuda reinsurance market on behalf of Marsh McClennan and actually JP Morgan. That's how a lot of those companies started into existence. So I was very fortunate to be able to have direct exposure. Our team was pretty small back then. It was probably seven people, seven investment professionals, and be able to work with those four folks and just kind of see how they operate. So that was a great situation that got even better.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“I had worked for the summer back in Cleveland for McKinsey, and that answered two incredible questions that I had. Number one, do I ever want to move back to my hometown to work and live? And the second question was, did I ever want to do management consulting? And it answered those two questions emphatically, which was, nope, I don't want to go back home and live. Love to go visit, but I don't want to live back there. And the second question was, don't want to do management consulting. Once you get your taste, I think of the principal world and actually taking ownership of your decisions. I think it's very hard to go back. So given my prior financial institutions background from the fig group, I actually got in touch with the folks at that time. The group was called Marshan McClenan Capital. And it was a wholly owned subsidiary of Marshall McClellan, the large insurance broker. And it was the only principal operation that they had in the whole business. They owned Putnam back at the time. They owned Mercer Management Consulting. And they had this little tiny operation in Greenwich, Connecticut called Marsh Capital. Now, heretofore, now they're not being spun out.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think the best part of business school for me is the people that you meet and the network that you can create. And it's up to you on how much you want to use that network. And for purposes, but it's always there. And this is a big reunion year for both undergrad and business school for me, which is, as we talked about before, it's depressing. But at the same time, it's amazing to think about how far you can grow as an individual.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, it's interesting because at that time, I think nowadays it may be more common. At that time, it was kind of a two or three year gig and you would be pretty much pushed out the door to go on. I had an opportunity be promoted directly to be an associate in the fig group back in the fig group, back in investment banking. And I had gotten my fix on PIA and decided that I actually really wanted to do that for a career and be a direct investor.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“I thought I would like to do private equity investing. And like investment banking, I really didn't know what that was, but just thought it would be fun to try, particularly before business school. So if that was something I wanted to do after business school, I could at least talk about some experience beforehand and be a little bit more knowledgeable about it. That was a group that just seemed to touch all parts of the organization wherever ideas were bubbled up. It didn't matter geography, didn't matter sector, they would all kind of find their way to Rich Friedman's group, and he could either do them or not, and they would move on. So I thought it was just an interesting crossroads for the firm and having an eye on everything that the organization's up to. And strictly at that time, it was just for, it was the firm's balance sheet. So that was the only money. There was no outside capital. That was all the partner's money. And this was pre-IPO. They paid extra close attention to kind of what was going on there, as you might imagine.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I knew you would work hard and I knew you would learn a ton. And from my perspective, I didn't really know much after that when they would ask, what do you see yourself doing? And it was an analyst program. So two to three years. What do you see yourself doing in three to five years? I said, I don't know. But for the next two or three, I'm happy to build up the intellectual capital as best I can. So fell into Goldman Sachs, was working in their financial institutions group. And back then, it was one of the leaner years. So I think, as you mentioned, because of coming out the recession, they hadn't recruited as many folks the year before. And usually when that happens, they always get the timing off. And so our particular year was a little bit lower than average in terms of the number of folks that they hired. And we just started getting busy. And 93 started really picking up. I was in the fig group for two years. I worked a year in the New York office and a year in the London office. And I came back to New York and worked in their PIA group, which is their principal investment area. That was the time in my career where”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“I remember because I also graduated in 92. I remember going through investment banking interviews and not being able to understand, no one explained to you what it didn't seem like it was investing and it didn't seem like going to the bank to get your money out of the, well then it was a teller. And I just remember all my friends who had been there knowing what a grind it was back then. And so I thought maybe they weren't telling you because it was such a terrible job that you just didn't want to do it”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, it was quite interesting. I was a finance undergrad and didn't really know much about what investment banking actually was in terms of a day-to-day activity, what do people do in that job?”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“And you went to Georgetown undergrad, that's right. And from there to the venerable Goldman Sachs investment banking program. So you came out in 92, which was right at the bottom end of the recession. So what was that like getting there then?”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“They had a taste of greatness, and folks really want to get back to that. And if you are a diehard fan, it always makes me wonder people ask now that the Calves have won, are you a bandwagon fan or a Fairweather fan? And I would say any Northeast Ohio sports fan, generally speaking, that's impossible. We have endured so much that you cannot, anybody, you know, and if that's the case in the bandwagon is wide open, anybody can jump on and join and be welcome. But I think they had that past greatness. They know what it tastes like and they remain forever hungry for it again. And hope does spring eternal.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it's a great question. Cleveland had its heyday. I mean, it was a huge industrial town when U.S. manufacturing was top of the world and it was smack in the middle between Detroit and Pittsburgh. It was right what we now call the Rust Belt back then. It was a huge part of the manufacturing. It wasn't even a Renaissance. It was just our coming of age post-World War II. And so they had a greatness that they could celebrate and their sports teams were great back in the day. Cleveland has won a couple World Series. I don't think anybody alive can be witness to that. But if you trust the record books, you can go back and actually check the record Cleveland Browns had some incredible years pre-Super Bowl era. Cavaliers weren't really around.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“And these sort of die hard fans you see in Cleveland, what is it that keeps people coming back in that community? There are a lot of towns that have baseball teams that haven't won for a long time. And until Theo Epstein, I guess, makes his rounds to Cleveland. You never know if they're going to be the next one. But what is it about the community that kind of keeps people so engaged in the sports teams?”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“Would always go to opening day. And the 4th of July game. Those are the two games that we would always go to. And this was back in the day when the tribe played in In'94, and that was the strike year. So they were in first place going into the strike. We had high hopes, but we thought it was part of the Cleveland curse. And then in 95, they got to the World Series, then in 97 got to the World Series and won a bunch of central division titles thereafter. Never won the big one. I remember in 97 and watching the Jose Mesa breakdown. LeBron James will talk about that often. And so if you're from that area and you felt that pain, you certainly can commiserate. And I think it's therapeutic to talk about it.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“There's so many intricacies that the more you are a fan, More you realize how important Everybody Position on the field is every player. The different decisions that the manager faces. To a casual fan, you might get quite bored and say, Oh, it's just the same old thing, but there Matchups that they're considering. There's even to each individual pitch the interaction between the catcher, the pitcher, and the batter. If you're really watching and paying attention, it is quite fascinating. And it differs all the time. And like most sports, no matter how heavily you're favored, you know, any given Sunday or in baseball parlance, any given day. Somebody else can win. And that proved itself on Saturday night when Verlander was bounced in the fifth inning.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“So it's been the Cavaliers were founded as a team. Year I was born. And so it's been to say last year was the end of a drought. It was my entire life. It's kind of all I knew. But the baseball team has obviously been around for a lot longer”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“I was feet away. I was actually in the stands of progressive field watching Verlander take on Kluber, the Indians and the Tigers, and they flashed the score midway through, I think, the sixth inning. And it was a win-sa-win, it's all I got to say.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“And we're up 1 0, which I'd like to make me think that we're in good shape, but as a lifelong Cleveland sports fan, it's never.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“So, I was the youngest of eight children grew up in Akron, Ohio. I usually say northeast Ohio because most folks have never heard of Akron until LeBron James hit the scene.”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source
“My guest on today's show is Tom Lenahan, the Deputy Chief Investment Officer of the Rockefeller University, where he helps lead the management of the university's $2 billion endowment. Rockefeller University is a unique duck with a focused mission of improving the understanding of life for the benefit of humanity. Founded in 1901, it was the first institution in the country devoted exclusively to biomedical research. In this episode, we start with Tom's roots in Cleveland and a look at what makes a die-hard Cleveland sports fan. We track his career from a start at Goldman Sachs to work at Premier Private Equity Firms and then a transition from principal investor to allocator for just the right reason. Turning to investing, Tom discusses fundamental questions about asset allocation for an endowment and describes how a”
2022-04-18 · Capital Allocators · [REPLAY] Tom Lenehan – Perpetual Thinking at Rockefeller University (Capital Allocators, EP.04) · IDENTIFIED FROM THE TRANSCRIPT · source