Valley Investors Podcast with Nathan Erickson Titelbild

Valley Investors Podcast with Nathan Erickson

Valley Investors Podcast with Nathan Erickson

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 The Valley Investors Podcast gives listeners insight into the most prominent investors in the Arizona community and beyond. We speak with founders, CEOs, and Chief Investment Officers about what brought them to Arizona, their views on investing, and their connections to the local community. Find out more at: https://www.cfasociety.org/phoenix2023 Persönliche Finanzen Ökonomie
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  • Building Value, Giving Back: Don Opatrny on Wall Street Wisdom and Community Impact

    Building Value, Giving Back: Don Opatrny on Wall Street Wisdom and Community Impact
    Apr 18 2025

    In this episode of the Valley Investors Podcast, Don Opatrny shares his path from Cleveland to Cornell, through Wall Street and eventually to philanthropic leadership in Arizona. Don reflects on a dynamic career at Goldman Sachs that spanned corporate finance, international restructuring, and asset management. Now based in Phoenix, he’s channeling his expertise into nonprofit investment strategy—especially through his work at the Arizona Community Foundation. From practical insights on endowment management to stories about building impactful cultural and educational institutions, Don offers a masterclass on financial stewardship and civic engagement.

    Key Discussions in This Episode:

    00:00 – Intro & Background

    03:07 – Career Journey Begins

    05:56 – A Global Career at Goldman Sachs

    10:22 – A Return to Roots with Endowment Work

    14:51 – Arizona Connection

    15:22 – Arizona Community Foundation (ACF)

    19:31 – Inside the ACF Portfolio

    28:55 – Private Equity in Endowments

    36:58 – Market Views & Risk Management

    44:38 – Broader Economic Shifts

    47:02 – Beyond Finance: Arts, Environment, Education

    51:28 – Why Arizona?

    Links:

    Arizona Community Foundation: https://www.azfoundation.org/

    Nathan Erickson on LinkedIn: https://www.linkedin.com/in/nathanferickson/

    Don Opatrny on LinkedIn: https://www.linkedin.com/in/don-opatrny-544069268/
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    56 Min.
  • Value Investing in a Modern Market: Insights from Bill Nygren of Harris Associates

    Value Investing in a Modern Market: Insights from Bill Nygren of Harris Associates
    Feb 3 2025

    In this episode of the Valley Investors Podcast, host Nathan Erickson welcomes Bill Nygren, Partner, and Chief Investment Officer at Harris Associates and Vice President of Oakmark Funds. Bill shares his journey from a working-class high school in St. Paul, Minnesota, to becoming a distinguished value investor managing the Oakmark Fund. He discusses his investment philosophy, lessons from his early career, and insights into the current market environment. Bill reflects on the evolution of value investing over four decades, why value still matters, and how he identifies opportunities in an increasingly intangible-driven economy. The conversation also explores the challenges investors face today with the abundance of information, the role of AI in transforming industries, and the persistence of value investing in an era dominated by mega-cap growth stocks.

    Key Discussions in This Episode:

    [00:00:00] - Intro to the Podcast and Guest

    [00:01:26] - Bill’s Early Years and Path to Investing

    [00:07:16] - From the University of Minnesota to Wisconsin

    [00:12:46] - Early Career Lessons

    [00:15:16] - The Evolution of Value Investing

    [00:24:18] - AI’s Impact on Businesses

    [00:26:05] - Interest Rates and Their Implications

    [00:31:46] - GM as a Prime Example of Value Investing

    [00:39:16] - Challenges for Modern Investors

    [00:42:16] - Arizona and Cubs Spring Training

    [00:43:46] - Closing Remarks

    Links:

    Oakmark Funds: https://oakmark.com/

    Bill Nygren: https://harrisassoc.com/

    Nathan Erickson on LinkedIn: https://www.linkedin.com/in/nathanferickson/

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    45 Min.
  • Rethinking Indexing and the Future of Investing with Rob Arnott

    Rethinking Indexing and the Future of Investing with Rob Arnott
    Jan 10 2025
    In this episode of Valley Investors, Nathan Erickson welcomes Rob Arnott, Founder and Chairman of Research Affiliates, and a featured speaker at the upcoming CFA Society Phoenix Market Forecast Dinner. Rob discusses his pioneering work in fundamental indexing, the evolution of quantitative investing, and the importance of rebalancing in capturing returns. He shares insights into the limitations of traditional market-cap-weighted indices, behavioral investing biases, and the impact of indexing on market dynamics. Rob also explores the role of AI in finance, macroeconomic trends, and his cautious yet optimistic long-term outlook for global value stocks and emerging markets. Tune in for a deep dive into the future of asset management and market performance.   Key Discussions in This Episode:  [00:00:00] Introduction to the Valley Investors Podcast [00:01:00] Introduction to Rob Arnott and his achievements [00:03:15] Rob discusses his college journey and early interest in investing [00:05:00] The influence of his first stock pick at age 12 and lessons learned [00:06:15] The origin of the fundamental index concept and its development [00:09:00] Key advantages of fundamental indexing over market-cap-weighted indices [00:11:20] Behavioral biases in investing: why investors chase winners and avoid losers [00:13:00] Discussion of the "Malkiel's Monkey" paper and random portfolios outperforming active managers [00:17:00] Explanation of how rebalancing contributes to portfolio performance [00:20:20] Rob describes the structural growth tilt in cap-weighted indices [00:25:00] The rise of indexing and its implications for market dynamics [00:32:40] The creation of the NIXT strategy based on index deletions and its early success [00:40:00] Performance analysis of stocks removed from major indices [00:43:00] Rob's long-term market outlook: concerns about valuations and value stocks [00:46:50] The importance of macroeconomic trends and government spending in shaping economic growth [00:50:20] Rob’s perspective on artificial intelligence and its role in investment processes [00:54:10] Rob’s thoughts on the rapid pace of technological advancement [00:55:30] Rob shares his fond memories of visiting Arizona and his excitement about the CFA event    Links:  Research Affiliates: https://www.researchaffiliates.com/home Rob Arnott on Linkedin: https://www.linkedin.com/in/rob-d-arnott Nathan Erickson on LinkedIn: https://www.linkedin.com/in/nathanferickson/  Cumulative Relative Wealth: https://drive.google.com/file/d/1jkOwwO_3YxiGYzwaUBTLDEZRCj-vTIWa/view?usp=sharing  
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    58 Min.
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