PAAMCO CEO on Investing from the Bottom Up

Colloquium on Business & Society

In our firm, what we believe is that diversification is the only true free lunch. We have no idea what the correlations are going to be, what the covariant structures are going to be on a looking-forward basis. We can make some guesses, but we’ve been through enough different environments, different regimes, that we don’t think it’s particularly stable.

“But what we do know is that there will be some things that outperform and underperform, and so we try to run a really, really diverse book. We’re a very bottom-up firm, from an investment viewpoint, as opposed to a top-down firm. I think we’re the second- or third-largest firm in the world in terms of hedge fund pension assets. So we’re small, but in our little narrow space we’re big. And we try to rely on a few basic principles and then just do a lot of work.”

—Jane Buchan YC ’86, CEO, Pacific Alternative Asset Management Company
 

About the Event

The Yale SOM community is invited to attend a Colloquium on Business and Society with Jane Buchan YC '86, CEO of PAAMCO.

Jane is the Chief Executive Officer of PAAMCO, a leading institutional investment firm dedicated to offering alternative investment solutions to the world's preeminent, tax- exempt investors. Based in Irvine, CA with six additional offices overseas including London and Singapore, the firm has over 150 employees and has a reputation for raising the standard for industry-wide best practices. As CEO, Jane is responsible for overall business strategy and firm direction.

Jane began her career at J.P. Morgan Investment Management in the Capital Markets Group after graduating Yale College with a BA in Economics. After receiving her MA and PhD in Business Economics (Finance) from Harvard University, she became an Assistant Professor of Finance at the Amos Tuck School of Business at Dartmouth. After leaving academia, she, along with three others, founded PAAMCO in 2000.

She is currently serving as Director and Chairwoman of the Board for the Chartered Alternative Investment Analyst Association (CAIA). She also serves as a member of the Board of Directors for the Torchmark Corporation (NYSE: TMK).

Jane serves as a Trustee for Reed College in Portland, Oregon and the University of California, Irvine Foundation. She is a member of the Investment Committees for both organizations. She is also a member of the Advisory Board for the Master of Financial Engineering Program at University of California, Los Angeles Anderson School of Management. Jane is a founding Angel for 100 Women in Hedge Funds and serves as a trustee for the Hedge Funds Standards Board. Additionally, she serves as an Associate Editor for the Journal of Alternative Investments.

Jane has been a guest on CNBC and Bloomberg television as well as a regular contributor to both the business and investment press. She participates in many industry conferences as a moderator, panelist and keynote speaker.

Jane and her husband, Jim Driscoll, a track and field coach, reside in Newport Coast, California. 

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