Phil Huber
@bpsandpieces.bsky.social
Head of Portfolio Solutions at Cliffwater 🌊 | RIA Intel's 2023 CIO of the Year 🏆| The Allocator's Edge 📗| Bps & Pieces 👨🏻💻 | Pro Wrestling Aficionado 🤼
🔗: bpsandpieces.com
🔗: bpsandpieces.com
Pinned
Phil Huber
@bpsandpieces.bsky.social
· Mar 1
Every 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)
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)
Every 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)
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)
March 1, 2025 at 3:59 PM
Every 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)
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)
Every 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)
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)
January 31, 2025 at 3:25 PM
Every 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)
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)
Wanna feel old?
Wedding Crashers came out 20 years ago
Wedding Crashers came out 20 years ago
January 13, 2025 at 2:30 AM
Wanna feel old?
Wedding Crashers came out 20 years ago
Wedding Crashers came out 20 years ago
Every 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)
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)
December 27, 2024 at 8:18 PM
Every 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)
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)
Nothing beats hearing your kid belly laugh to Home Alone for the first time
December 24, 2024 at 5:08 PM
Nothing beats hearing your kid belly laugh to Home Alone for the first time
Rare glimpse of Santa reading a Bill Ackman tweet
December 10, 2024 at 9:51 PM
Rare glimpse of Santa reading a Bill Ackman tweet
This is the ideal Christmas album.
You may not like it, but this is what peak performance looks like.
You may not like it, but this is what peak performance looks like.
December 10, 2024 at 12:43 AM
This is the ideal Christmas album.
You may not like it, but this is what peak performance looks like.
You may not like it, but this is what peak performance looks like.
(•_•)
<) )╯let’s circle
/ \
(•_•)
\( (> back after
/ \
(•_•)
<) )╯the holidays
<) )╯let’s circle
/ \
(•_•)
\( (> back after
/ \
(•_•)
<) )╯the holidays
November 29, 2024 at 8:43 PM
(•_•)
<) )╯let’s circle
/ \
(•_•)
\( (> back after
/ \
(•_•)
<) )╯the holidays
<) )╯let’s circle
/ \
(•_•)
\( (> back after
/ \
(•_•)
<) )╯the holidays
Most overrated Christmas movie: A Christmas Story
Most underrated Christmas movie: The Family Man
Most underrated Christmas movie: The Family Man
November 28, 2024 at 4:46 PM
Most overrated Christmas movie: A Christmas Story
Most underrated Christmas movie: The Family Man
Most underrated Christmas movie: The Family Man
Every 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)
November’s edition features:
💶 European Buyouts
⚖️ Stock-Bond Correlation
🚆 Infrastructure
🎢 Long Volatility
🧬 Alpha’s Evolution
⏱️ Commitment Pacing
🤖 Machine Learning and Stock Selection
(🔗 in replies)
November 28, 2024 at 1:59 AM
Every 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)
November’s edition features:
💶 European Buyouts
⚖️ Stock-Bond Correlation
🚆 Infrastructure
🎢 Long Volatility
🧬 Alpha’s Evolution
⏱️ Commitment Pacing
🤖 Machine Learning and Stock Selection
(🔗 in replies)
Took one of those glorious Sunday naps where I woke up and forgot how to speak English
November 24, 2024 at 10:17 PM
Took one of those glorious Sunday naps where I woke up and forgot how to speak English
There are few beers better than the airport beer
November 21, 2024 at 10:15 PM
There are few beers better than the airport beer
Tired: FinTwit
Wired: BlueFi
Wired: BlueFi
November 19, 2024 at 3:55 AM
Tired: FinTwit
Wired: BlueFi
Wired: BlueFi