Capital Allocators – Inside the Institutional Investment Industry [REPLAY] Paul Black and Mike Trigg – How to Build a $100B Money Manager (Capital Allocators, EP.227)
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Oct 27, 2025 Paul Black, a key leader at WCM Investment Management, and Mike Trigg, a senior investment professional, share insights on transforming a struggling firm into a $100 billion investment powerhouse. They discuss the importance of culture and unconventional hiring practices, revealing how openness and trust fuel innovation. Paul recounts overcoming significant losses and embracing change, while Mike emphasizes the need for candid communication and fostering a truthful environment. Together, they highlight the role of storytelling in integrating new team members into their unique culture.
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Trust Enables Productive Change
- You cannot evolve investment approach without a culture that allows change and shared trust.
- Trust lets teams weather poor stretches and focus on learning rather than finger-pointing.
Communicate Iteration To Clients
- Tell clients to hold you accountable for continuous iteration and new insights.
- Emphasize that philosophical pillars stay, while tools and techniques evolve.
Hard Times Reveal Culture
- Firms' true cultures reveal themselves under performance stress and often become toxic.
- Founders and leaders who hide mistakes or become dictatorial accelerate failure during downturns.
