Alex Sacerdote – Riding S-Curves at Whale Rock (EP.436)
Capital Allocators – Inside the Institutional Investment Industry
Ted Seides – Allocator and Asset Management Expert
4.8 • 806 Ratings
🗓️ 17 March 2025
⏱️ 56 minutes
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Summary
Alex Sacerdote is the founder of Whale Rock Capital Management, a technology-focused investment firm that manages $8 billion across hedge fund, long only, and hybrid strategies.
Our conversation covers Alex’s path to running Whale Rock, shaped by early exposure to the markets through his father, a longtime partner at Goldman Sachs, and his formative years at Fidelity. We dive into the key lessons he learned at Fidelity, the development of his investment framework centered around S-curves, competitive advantages, and underappreciated earnings power, and the application of the framework to AI, Mag 7, cloud computing, electronic vehicles, and blockchain technologies.
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Transcript
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| 0:00.0 | Capital allocators is brought to you by my friends at WCM Investment Management. |
| 0:07.5 | To outperform the markets, you have to do something differently from others. |
| 0:11.9 | In my 30-something years investing in managers, there may be no one I've come across who does that as clearly and as well as WCM. |
| 0:20.1 | I've seen it up close as an investor in their |
| 0:22.3 | international growth strategy for the last five years. WCM is a global equity investment manager |
| 0:28.9 | majority owned by its employees. They believe that being based on the West Coast, away from |
| 0:34.7 | the influence of Wall Street Groupthink, provides them with the freedom |
| 0:37.9 | to live out their investment team's core values, think different, and get better. |
| 0:43.5 | As advocates of integrating culture research into the investment process and advancing |
| 0:48.3 | wide moat investing with the concept of moat trajectory, WCM has delivered differentiated returns while building concentrated |
| 0:56.2 | portfolios designed to stand out from the crowd. WCM is committed to defying the status quo |
| 1:03.1 | by dismantling outdated practices, believing in the extraordinary capabilities of its people, |
| 1:08.8 | and fostering optimism to inspire each individual |
| 1:12.2 | to become the best version of themselves. To learn more about WCM, visit their website at WCMinvest.com. |
| 1:21.3 | And tune in to this slot on the show to hear more about WCM all year long. |
| 1:26.9 | This testimonial is being provided by Ted Sides and capital allocators who have been |
| 1:30.2 | compensated a flat fee by WCM. |
| 1:31.9 | His payment was made in connection with capital allocators' testimonial and production |
| 1:34.4 | of podcasts, and does not depend on the success or level of business generated. |
| 1:37.7 | The opinions expressed are solely those of capital allocators and may not reflect the opinions |
| 1:40.5 | of others. |
| 1:41.1 | Investing involves risk, including the possible loss of principle. |
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