What if building a portfolio for high-net-worth investors is more about managing downside risk than chasing returns? In this episode, I sit down with Damien Bisserier, Managing Partner and Co-CIO at Evoke Advisors, to explore how he constructs diversified portfolios for ultra-high-net-worth families. Damien shares why after-tax returns, alternative assets, and private markets matter more than concentrated US stock bets, and how behavioral insights and client-centered thinking drive long-term compounding. He also dives into venture capital, the importance of relationships, and the nuanced ways to identify managers who deliver repeatable alpha.

Highlights:

• How incorporating multiple, uncorrelated return streams improves consistency beyond US equities
• Why after-tax returns are often overlooked and how understanding tax implications enhances portfolio outcomes
• The evolution of private credit and alternative vehicles for high-net-worth investors
• Venture capital as a network-driven asset class and strategies to access top-tier managers
• Using private markets, real estate, and active management to generate tangible alpha
• The importance of GP alignment, skin in the game, and repeatable sources of outperformance
• Marrying portfolio engineering with client comfort and behavioral considerations
• Timeless advice: protect on the downside, focus on compounding, and listen more to learn faster

Guest Bio:

Damien Bisserier is Managing Partner and Co-CIO at Evoke Advisors, recognized by Forbes as the top RIA four years in a row. He previously worked at Bridgewater, building systematic investment frameworks, and now focuses on constructing diversified portfolios that balance private and public markets, tax efficiency, and behavioral factors for high-net-worth families. Damien specializes in portfolio design, alternative assets, venture capital diligence, and aligning manager incentives to capture repeatable alpha.

Are you interested in sponsoring the How I Invest Podcast? Please email David Weisburd at david@weisburdcapital.com.

We’d like to thank AlphaSense for sponsoring this episode!

Sponsor:

AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.

Stay Connected with David Weisburd:

X/Twitter: @dweisburd LinkedIn: https://www.linkedin.com/in/dweisburd/ Weisburd Capital: https://www.weisburdcapital.com/

Stay Connected with Damien Bisserier:

LinkedIn: https://www.linkedin.com/in/damien-bisserier-3b64132/

Questions or topics you want us to discuss on How I Invest? Email us at david@weisburdcapital.com.

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 Capital. 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.

(0:00) Why Most Portfolios Fail at Scale (1:31) The Hidden Layer Everyone Ignores: After-Tax Returns (3:04) The One Question That Exposes Bad Managers Instantly (4:37) The Liquidity Trap No One Is Talking About (Until It’s Too Late) (7:23) Venture’s Dirty Secret: Great Stories, Weak Returns (10:05) Why Even Top VCs Might Just Be Lucky (12:11) The Real Edge in Private Markets Isn’t What You Think (14:31) Why “Diversification” Still Isn’t Enough (17:46) The Biggest Risk Isn’t Losses—It’s Lost Decades (24:27) The Mindset Shift That Separates Great Investors