Long Term Capital – Improving Alpha:

Zita Cobb on Capital, Community, and the Future of Philanthropy

By Improving Alpha | September 14, 2026

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How can philanthropies and charitable organizations structure capital layers to maximize private, public, and government funding? In this episode, we explore whether society’s core pillars—governments, financial markets, and local communities—must be brought back into balance to drive sustainable growth for impact-driven organizations.

The Improving Alpha podcast welcomes Zita Cobb, Founder and CEO of Shorefast, a Canadian charity driving community and economic development across Fogo Island. Host Michael Oliver Weinberg speaks with Zita about how philanthropies can optimize for place, build a balanced operational framework, and unlock greater long-term investment.

Other key takeaways include:

What led Zita back to Fogo Island, and what learnings from the dot.com bubble did she bring back with her?
Can philanthropies generate a stream of sensible returns for investors given the market volatility today?
What are Zita’s thoughts on building a Community Reinvestment Act for Canada and how would that impact SME’s (small-medium sized enterprises) across the country?
Why does Zita believe that the 3 pillars of human society (government, financial markets, and community) are out of balance?
What is the definition of place as it relates to business, technology, and investments? Is this definition being cannibalized by an imbalance of these market pillars?
What are Zita’s thoughts on ESG and AI, and does she believe these are valuable tools for investors today?
and more.

Resources:

Connect with Zita Cobb:

Connect with Michael Oliver Weinberg:

About Our Guest:

Zita Cobb is a Canadian business leader and social entrepreneur who serves as the Founder and CEO of Shorefast, a Canadian charity focused on community-based economic development. She is the visionary behind the Fogo Island Inn, a globally acclaimed Michelin Three Key property and social enterprise located in Newfoundland & Labrador, Canada.

She previously played a key role in the expansion of JDS Fitel (later JDS Uniphase), a leader in fiber optics technology, where she served as CFO. In 2001, she retired to focus her time and financial resources on philanthropic initiatives.

In 2016, she was appointed a Member of the Order of Canada, and she holds the distinction of being the first social entrepreneur inducted into the Canadian Business Hall of Fame.

The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Vidrio Financial, and/or our host, Michael Oliver Weinberg. The Content has been made available for informational and educational purposes only. The Content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.

The release date may not correspond to the recording date.

Improving Alpha: Andrew Junkin on Strengthening Defensive Layers in Pension Retirement Plans

By Improving Alpha | January 26, 2026

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There’s a famous sports adage on how great defenses win championships, but can defensive layers be efficiently applied to pension plans that have close to $128 billion in AUM and provide secure retirement benefits to 850,000 participants?

In addition to positioning your defense, how can CIOs reduce drawdown risk while navigating investment board politics, innovation goals, and uncovering longer-term sources of strategic alpha? In our first episode of 2026 for the Improving Alpha podcast, we uncovered allocation strategies for the Employees’ Retirement System of Hawaii.

This time, we traveled ~5,000 miles to welcome Andrew Junkin, Chief Investment Officer of the Virginia Retirement System (VRS). Host, Michael Oliver Weinberg, speaks with Andrew about his journey from investment consulting to moving east of the Mississippi, where he took on the CIO role at the State of Rhode Island during COVID, before landing at VRS.

Key takeaways from Andrew’s discussion include:

Why, after 150 nights on the consulting road, did Andrew look for a career change?
How does Andrew balance the Code of Virginia rules in avoiding large drawdowns by adding layers of defense to the portfolio?
Can good investment decisions be freed up from political perspectives, and how does that shape governance of the $128BN fund?
Does cash on hand actually create drag in asset owner portfolios, or does it help liquidity, avoiding the ‘shaking of couch cushions to fund capital calls and more?
With equity prices and valuations at all-time highs, and spreads tightening, are there still investment opportunities out there to take advantage of for your beneficiaries?
Red flags on asset gathering mode by fund managers, and flipping the right switches on investment partnerships.
Why the Chief Investment title shouldn’t be about picking investments, but rather focus on machine building for the future.
And more!

Connect with Andrew Junkin:

Connect with Michael Oliver Weinberg:

About Our Guest:

Andrew Junkin serves as the Chief Investment Officer of the Virginia Retirement System where he manages and oversees the investment program for the fund, valued at more than $100 billion. The fund serves approximately 773,000 active members, retirees and beneficiaries. VRS covers teachers, state employees and most employees of the Commonwealth’s counties, cities, towns and political subdivisions.

Previously, Junkin served as the Chief Investment Officer for the State of Rhode Island’s pension plan, defined contribution and 529 plans, as well as cash and operating funds and debt management program.

Prior to his public fund experience with Rhode Island, he worked at Wilshire Associates in California and Colorado, where he served in various capacities, including Managing Director and President from 2015 to 2020. During his tenure, Junkin also served as the Lead Consultant for a $400 billion pension plan and was responsible for driving overall strategy, asset allocation, risk management, implementation and sourcing new strategies.

From 1995 to 2005, Junkin was the President of Asset Services Company in Oklahoma City, Oklahoma where he served as Lead Consultant for family office and foundation clients.

Junkin holds a Master of Business Administration from the Wharton School and a bachelor’s degree in Business from Oklahoma City University.

The release date may not correspond to the recording date.