David Druley is the CEO of Cambridge Associates, a global investment firm that works with premier institutional investors and family offices to manage custom investment portfolios that aim to generate outperformance so they can maximize their impact on the world. David works with Cambridge’s leaders to set and execute the firm’s strategy, enhance its capabilities, and evolve its processes. David brings a quarter-century of investment experience to the role, including a 16-year tenure at Cambridge. Our conversation covers David’s path from value investing to Cambridge Associates, including a key early career lesson in calibrating risk tolerance. We discuss the history of Cambridge Associates, key characteristics of generating great investment returns, the manager selection process, and David’s take on co-investments, long-only managers, hedge funds, fixed income, innovation, and future opportunities and challenges for the business. The discussion offers a nice compliment to my earlier conversation with Margaret Chen, who oversees Cambridge Associates’ OCIO business.  You can find that conversation replayed right after this one on the feed. Learn More Read the Transcript Subscribe to the Capital Allocators Blog or Monthly Mailing List Don't Subscribe, but Let Us Know Who You Are Write a review on iTunes Follow Ted on twitter at @tseides Review past episodes of the Podcast