Head of Portfolio Solutions at Cliffwater 🌊 | RIA Intel's 2023 CIO of the Year 🏆| The Allocator's Edge 📗| Bps & Pieces 👨🏻‍💻 | Pro Wrestling Aficionado 🤼 🔗: bpsandpieces.comhttps://bsky.app/profile/bpsandpieces.bsky.socialhttps://bsky.app/profile/bpsandpieces.bsky.social/post/3ljdc257vis2zEvery month I publish The Paper Trail, a curation of the best investment research I can find. February’s edition features: ⛏️ PIK income 🎵 Royalties as an asset class 📡 Systematic investing 🔭 Private equity's 2025 outlook ⚾️ Probabilities and payoffs 🥈 A record year for secondaries (🔗 in replies)01 Mar 2025 15:58 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3ljdc257vis2zhttps://bsky.app/profile/bpsandpieces.bsky.social/post/3lh2cn7jsfk2yEvery month I publish The Paper Trail, a curation of the best investment research I can find. January’s edition features: 🌱 VC Secondaries 🎭 Private Debt’s Next Act 🥩 GP Stakes in a Portfolio ⚗️ Public-Private Market Convergence 🧩 Specialty Finance 💡 Contrarian Equity Ideas (🔗 in replies)31 Jan 2025 15:25 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3lh2cn7jsfk2yhttps://bsky.app/profile/bpsandpieces.bsky.social/post/3lfloworp7k2hWanna feel old? Wedding Crashers came out 20 years ago13 Jan 2025 02:30 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3lfloworp7k2hhttps://bsky.app/profile/bpsandpieces.bsky.social/post/3lecsouttek2yEvery month I publish The Paper Trail, a curation of the best investment research I can find. December’s edition features: 🧗 Private Debt’s Wall of Worry 📐 Sizing Bitcoin 🍇 Permanent Crops 🌪️ Long Volatility Strategies 🎒 Portable Alpha 🌎 Non-U.S. Small Caps 🚪 PE’s Exit Environment (🔗 in replies)27 Dec 2024 20:18 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3lecsouttek2yhttps://bsky.app/profile/bpsandpieces.bsky.social/post/3le2wnzodrs2qNothing beats hearing your kid belly laugh to Home Alone for the first time24 Dec 2024 17:08 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3le2wnzodrs2qhttps://bsky.app/profile/bpsandpieces.bsky.social/post/3lcy7ybyjis2fRare glimpse of Santa reading a Bill Ackman tweet10 Dec 2024 21:51 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3lcy7ybyjis2fhttps://bsky.app/profile/bpsandpieces.bsky.social/post/3lcvz4ok6sc24This is the ideal Christmas album. You may not like it, but this is what peak performance looks like.10 Dec 2024 00:43 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3lcvz4ok6sc24https://bsky.app/profile/bpsandpieces.bsky.social/post/3lc4gzrtxv22l(•_•) <) )╯let’s circle / \ (•_•) \( (> back after / \ (•_•) <) )╯the holidays29 Nov 2024 20:43 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3lc4gzrtxv22lhttps://bsky.app/profile/bpsandpieces.bsky.social/post/3lbzt7uogzk27You’re welcome28 Nov 2024 19:43 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3lbzt7uogzk27https://bsky.app/profile/bpsandpieces.bsky.social/post/3lbzjdfdtdc27Most overrated Christmas movie: A Christmas Story Most underrated Christmas movie: The Family Man28 Nov 2024 16:46 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3lbzjdfdtdc27https://bsky.app/profile/bpsandpieces.bsky.social/post/3lbxxr3bwp22gEvery month I publish 𝗧𝗵𝗲 𝗣𝗮𝗽𝗲𝗿 𝗧𝗿𝗮𝗶𝗹, a curation of the best investment research I can find. November’s edition features: 💶 European Buyouts ⚖️ Stock-Bond Correlation 🚆 Infrastructure 🎢 Long Volatility 🧬 Alpha’s Evolution ⏱️ Commitment Pacing 🤖 Machine Learning and Stock Selection (🔗 in replies)28 Nov 2024 01:59 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3lbxxr3bwp22ghttps://bsky.app/profile/bpsandpieces.bsky.social/post/3lbpzxrcm7k2hTook one of those glorious Sunday naps where I woke up and forgot how to speak English24 Nov 2024 22:17 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3lbpzxrcm7k2hhttps://bsky.app/profile/bpsandpieces.bsky.social/post/3lbiigsyft22eThere are few beers better than the airport beer21 Nov 2024 22:15 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3lbiigsyft22ehttps://bsky.app/profile/bpsandpieces.bsky.social/post/3lbbk366kuk2xTired: FinTwit Wired: BlueFi19 Nov 2024 03:55 +0000at://did:plc:hftv64okh5mmlfjo3fruuffu/app.bsky.feed.post/3lbbk366kuk2x