How to Earn Investment Conviction: From Mean Reversion to Manager Selection with Springtide Partners

In this episode of dakota live!, host Robert Morier sits down with Aaron Dirlam, Co-Founder and Chief Investment Officer of Springtide Partners, for a wide-ranging conversation on building conviction in uncertain markets—and why humility remains one of the most underappreciated edges in investing.

Founded in 2017, Springtide Partners has grown into a trusted investment partner for RIAs, family offices, and financial institutions, advising on over $80 billion in client assets. In this discussion, Aaron shares how Springtide’s mean reversion framework, disciplined research process, and client-first mindset have been refined through multiple market cycles—from pre-COVID volatility to today’s rapidly shifting macro environment.

Key topics include:
・How Springtide approaches manager research and due diligence, with a heavy emphasis on qualitative judgment, succession, and culture
・Why mean reversion remains central to portfolio construction—and where the opportunity set looks most compelling today
・The evolution of the OCIO model, rising client service expectations, and what RIAs truly need from outsourced partners
・Springtide’s framework for private markets, including secondaries, venture capital, private credit, and niche real assets
・The role of humility—in founders, portfolio managers, and investment teams—and how it shows up in long-term performance

Aaron also reflects on nearly two decades of partnership with his co-founder, the lessons learned building a boutique investment firm, and how Springtide balances conviction with risk control in an increasingly competitive landscape.

This episode is a must-listen for CIOs, manager research professionals, RIAs, and allocators seeking a clearer lens on conviction-driven investing—and what it truly means to earn a seat at the table.