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cover of episode The Absolute Return Revival with Tony Yoseloff

The Absolute Return Revival with Tony Yoseloff

2025/4/11
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Masters in Business
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Tony Yoseloff
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我最初的职业规划是从事法律或公共政策工作，但在普林斯顿和哥伦比亚大学期间，我决定从事资金管理工作。我的法律和公共政策背景对我的投资生涯非常有帮助。我的职业道路并非事先规划好的，而是机缘巧合的结果。在哥伦比亚商学院的学习经历中，我受益匪浅，特别是那些由拥有实际经验的兼职教授讲授的课程。法学院的教育教会我如何思考，这对于我们所做的投资类型非常有帮助。我职业生涯的头两年，我讨厌我所看到的投资机会，并且不断拒绝它们，但事实证明这是正确的选择。在早期职业生涯中，我得到了资深合伙人的支持，他们引导我关注可行的投资机会，并帮助我积累经验。选择职业最重要的两个因素是：做什么和与谁一起做。我在Davidson Kempner工作了近27年，从未想过离开，因为我喜欢我的工作和同事，并且公司为我提供了职业发展机会。Davidson Kempner 是一家以投资为导向的公司，而不是以资产积累为导向的公司，我们合伙人会将自己的资金与有限合伙人的资金一起投资。我们要求所有合伙人每年将大部分净资产再投资到基金中，我们也会在各个基金中进行投资，所以我们“吃自己做的饭”。我认为互联网泡沫破裂、全球金融危机和欧洲债务危机都是可以预测的，而新冠疫情则是一个例外，它带来了更多的随机性。机会主义信贷投资需要投资者具有逆向思维和乐观的态度，因为我们寻找的是其他人所拒绝的机会。

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Barry speaks with Anthony Yoseloff, Managing Partner and CIO of Davidson Kempner. Tony joined the firm in 1999. He holds a J.D. from Columbia Law School and an M.B.A. from Columbia Graduate School of Business Administration. Aside from his time at Davidson Kempner, Tony also holds various board seats, including the Board of Trustees of Princeton University and the Board of Directors of PRINCO. Additionally, he serves as a member of the Board of Trustees and Chair of the investment committee of The New York Public Library. He is also a member of the Council on Foreign Relations. In this episode, Barry and Tony discuss his path in finance and how it led him to over 20 years at the same firm, the importance of absolute return in a portfolio, and the rise of alternative investing.

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