This week on Yahoo Finance’s Warrior Money, Patrick Murphy and Dan Kunze are joined by SECOR Asset Management Advisor Andrew Bang, who made the leap from US Army captain to a successful career in investment management. The West Point and Cornell MBA graduate offers his take on the often overlooked scaling issue the Department of Defense faces.
While the average citizen may assume the DOD has a bottomless budget, the reality is that its costs add up when factoring in all its expenses, from research and development to the cost of sheltering and training troops. The result is a branch that has limited funds for innovation.
However, Bang notes that there are opportunities for the government to spend more wisely, such as working with the private sector more. While public-private partnerships already exist in the defense sector, the DOD needs to increase these collaborations to allow itself the ability to scale.
“From an investment [standpoint], there are some tremendous opportunities from a return perspective,” Bang adds, “whether it’s investing in public securities [or] a private-sector investment in private alternatives,” such as private equity, credit, or real estate.
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In his conversation with Murphy and Kunze, Bang also reflects on his own transition into the private sector, how he remains purpose-driven in the financial industry, and why he continues to give back to his country through veteran-focused organizations like BENS and the USO.
Hosted by former Congressman Patrick Murphy and veteran investor Dan Kunze, Yahoo Finance’s Warrior Money is a weekly vodcast dedicated to uplifting military veterans transitioning into civilian life. Through insights from fellow veterans and high-ranking government officials, Murphy and Kunze are helping set vets up for success through financial education and inspiration.
This post was written by Nick Riccardo.