E404: Why This Billionaire Family Office Doesn't Rebalance Its Portfolio | Pincus Family CIO
Most investors obsess over pre-tax returns. Scott Abookire argues they're measuring the wrong thing. As Chief Investment Officer of Pincus Capital, Scott oversees globally diversified public and private portfolios for multi-generational families. In this conversation, he explains why after-tax returns are the metric that truly matters, why he abandoned the traditional endowment model, and how sophisticated family offices think about risk, liquidity, and long-term compounding. Scott also shares the portfolio framework Pincus uses to manage drawdowns, why governance matters more than forecasts, and how the best investors stay disciplined when markets become emotional.
Highlights:
- Why after-tax returns matter more than headline investment performance.
- The hidden cost taxes have on long-term wealth compounding.
- Why Pincus Capital moved away from the traditional endowment model.
- A better framework for portfolio construction based on liabilities instead of arbitrary asset allocation targets.
- How elite family offices manage risk without sacrificing long-term returns.
- The biggest mistakes investors make with private equity commitments.
- Why drawdown management is more important than volatility statistics.
- How long-term relationships create investment edge.
Guest Bio:
Scott Abookire is the Chief Investment Officer at Pincus Capital, a New York-based multi-family office that provides investment management and strategic advice to a select group of families with significant multi-generational wealth. Before joining Pincus Capital, he was a member of the investment team at the Metropolitan Museum of Art and previously worked at Cambridge Associates. Scott is a CFA Charterholder and earned his BS from Indiana University's Kelley School of Business.
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Disclaimer:
This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Pierce. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.
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Transcript
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