David Salem is Co-Chairman of the New York City-based investment advisory firm New Providence. Prior to joining New Providence, Mr. Salem was the co-founder and managing partner of Windhorse Capital Management, a Boston-based investment advisory firm that combined with New Providence in late 2017. Previously, Mr. Salem served as founding president and chief investment officer of The Investment Fund for Foundations (TIFF) for eighteen years. Prior to TIFF’s founding, Mr. Salem was a partner in the global investment advisory firm GMO, where he focused on asset allocation and quantitative equity investing. Mr. Salem currently serves as a member of the Board of Trustees of the U.S. Olympic and Paralympic Foundation, and formerly served as a member of the investment committee of The Atlantic Philanthropies and as a trustee of Middlebury College, The Initiative for a Competitive Inner City, the Center for Effective Philanthropies, and other endowed charities. Mr. Salem earned a JD cum laude from Harvard Law School, an MBA with High Distinction from Harvard Business School, and a BA summa cum laude from Middlebury College.
In baseball and in investing, how do we distinguish truly great practitioners from merely good ones? Let’s start by looking at two greats who revolutionized how the game is played – Branch Rickey in baseball and David Swensen in investing.
Imitation is not only the sincerest form of flattery, it’s also the engine behind so much of what we do in both professional baseball and professional investing. The trick, of course, is not to get beaned in the process!