# #140 - Peter Kraus: Incentives vs Alpha

Page: https://stenobird.com/podcast/insightful-investor-6700249/140-peter-kraus-incentives-vs-alpha
Text version: https://stenobird.com/podcast/insightful-investor-6700249/140-peter-kraus-incentives-vs-alpha.md
Podcast: [Insightful Investor](https://stenobird.com/podcast/insightful-investor-6700249)
Published: 2026-09-15T11:00:00+00:00
Episode link: https://insightful-investor.captivate.fm
Audio file: https://episodes.captivate.fm/episode/9b5fe106-6336-440f-bf1f-2a5b6c16ce78.mp3
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JSON: https://stenobird.com/v1/public/podcasts/insightful-investor-6700249/episodes/140-peter-kraus-incentives-vs-alpha
Duration seconds: 3711

## Resource

Peter is the Co-Founder, Chairman, and CEO of Aperture Investors, an alternative investment manager with $6.7B in AUM as of June 2026. Drawing on his experience as CEO of AllianceBernstein and Co-Head of Goldman Sachs Asset Management, he explains how incentives may shape investment outcomes, why asset gathering often conflicts with alpha generation, how investors can better distinguish skill from luck, and why manager selection may become increasingly important in a changing market environment. - This podcast/webcast is provided for informational purposes only and should not be considered legal, tax, investment, or business advice. It is not a solicitation, recommendation, or endorsement. All opinions expressed by participants are their own and do not necessarily reflect the views of the Evoke Advisors Division of MAI Capital Management, LLC ("Evoke”), its affiliates, or any companies mentioned. Information shared has not been independently verified by MAI or its affiliates. MAI Capital Management, LLC (“MAI”) is registered with the U.S. Securities and Exchange Commission ("SEC"), which does not imply any particular level of skill or training. Certain information contained herein has been obtained from third party sources and such information has not been independently verified. No representation, warranty, or undertaking, expressed or implied, is given to the accuracy or completeness of such information by any person. While such sources are believed to be reliable, Evoke does not assume any responsibility for the accuracy or completeness of such information. Evoke does not undertake any obligation to update the information contained herein as of any future date. The content is intended for a general audience and does not constitute a recommendation to buy or sell sec…

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## Transcript

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