The Rational Reminder Podcast | RR #216 - Gus Sauter: Vanguard's Former CIO on Indexing, Active Management, and Private Equity @rationalreminder | Uploaded September 2022 | Updated October 2024, 12 hours ago.
The indexing revolution is something that underpins all of our work here at the Rational Reminder and is a subject we reference in different ways in almost all of our episodes. Today we have a special exploration of this history, as we welcome Gus Sauter, the former long-time CIO of Vanguard, to talk about his incredible history at the firm, the role he played in the rise of the company, and its huge role in reforming the investing landscape. We also hear from our guest about his experience of working on numerous investing committees since he retired about a decade ago. One of the most notable things about this conversation is Gus' ability to weigh both sides of the arguments about active management, and he does a great job of balancing what he sees as the potential positives of this way of doing things. This is all strengthen by the way he presents these ideas as a powerful mix of stories, evidence, and the research he himself has conducted. To all our listeners, be sure to listen right to the end of the episode, as after the official conversation ends, Gus shared a few more thoughts on Jack Bogle and ETFs as a bonus.
Timestamps:
0:00 Intro
4:14 Vanguard & index investing's growth
12:39 Active management
48:17 Arguments for home country bias
50:22 Fixed income & global diversification
1:01:20 Joining an investment committee
1:06:58 Future of portfolio management
1:26:39 Definition of success
1:31:29 Bonus Clip
Participate in our Community Discussion about this Episode:
community.rationalreminder.ca/t/episode-216-gus-sauter-vanguards-former-cio-on-indexing-active-management-and-private-equity-discussion-thread/18935
Links From Today’s Episode:
Rational Reminder on iTunes — itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — rationalreminder.ca
Benjamin on Twitter — twitter.com/benjaminwfelix
Cameron Passmore — pwlcapital.com/profile/cameron-passmore
Cameron on Twitter — twitter.com/CameronPassmore
Gus Sauter — https://www.chicagobooth.edu/alumni/distinguished-alumni-award/honorees/george-u-sauter
Vanguard — investor.vanguard.com/corporate-portal
The indexing revolution is something that underpins all of our work here at the Rational Reminder and is a subject we reference in different ways in almost all of our episodes. Today we have a special exploration of this history, as we welcome Gus Sauter, the former long-time CIO of Vanguard, to talk about his incredible history at the firm, the role he played in the rise of the company, and its huge role in reforming the investing landscape. We also hear from our guest about his experience of working on numerous investing committees since he retired about a decade ago. One of the most notable things about this conversation is Gus' ability to weigh both sides of the arguments about active management, and he does a great job of balancing what he sees as the potential positives of this way of doing things. This is all strengthen by the way he presents these ideas as a powerful mix of stories, evidence, and the research he himself has conducted. To all our listeners, be sure to listen right to the end of the episode, as after the official conversation ends, Gus shared a few more thoughts on Jack Bogle and ETFs as a bonus.
Timestamps:
0:00 Intro
4:14 Vanguard & index investing's growth
12:39 Active management
48:17 Arguments for home country bias
50:22 Fixed income & global diversification
1:01:20 Joining an investment committee
1:06:58 Future of portfolio management
1:26:39 Definition of success
1:31:29 Bonus Clip
Participate in our Community Discussion about this Episode:
community.rationalreminder.ca/t/episode-216-gus-sauter-vanguards-former-cio-on-indexing-active-management-and-private-equity-discussion-thread/18935
Links From Today’s Episode:
Rational Reminder on iTunes — itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — rationalreminder.ca
Benjamin on Twitter — twitter.com/benjaminwfelix
Cameron Passmore — pwlcapital.com/profile/cameron-passmore
Cameron on Twitter — twitter.com/CameronPassmore
Gus Sauter — https://www.chicagobooth.edu/alumni/distinguished-alumni-award/honorees/george-u-sauter
Vanguard — investor.vanguard.com/corporate-portal
