Navigating the U.S. Mid-Cap Landscape: Resilience Amid Uncertainty | EP160
Art of Boring
by Mawer Investment Management Ltd.
4d ago
In this episode, Portfolio Manager Jeff Mo makes the case for investing in U.S. mid-cap equities, highlighting the country’s strong business environment, large domestic market, and GDP growth. He discusses current market trends, including artificial intelligence, and his team’s risk management evaluation, especially with a pivotal U.S. election looming on the horizon.   Key points from this episode: The U.S. is an attractive market for investing due to its strong rule of law, business environment, and large domestic market. Mid-caps are an investing sweet spot. While smaller companies st ..read more
Visit website
From Buy to Bye: Sell Discipline and Overcoming Behavioral Biases | EP.159
Art of Boring
by Mawer Investment Management Ltd.
2w ago
In this episode, Portfolio Manager Jeff Mo discusses common behavioral biases that can hinder clear sell decisions, and the tools, such as checklists and trigger points, that can help slow down emotional thinking. He provides examples of companies that he and his team properly exited based on changing fundamentals as well as those they may have held onto for a bit too long, proving the power of the endowment bias. Key points from this episode: Mawer’s sell discipline mirrors the inverse of its buy criteria: wealth creation, management quality, and discount to intrinsic value. The endowment bi ..read more
Visit website
Navigating Global Small Caps in an AI-Transformative World | EP157
Art of Boring
by Mawer Investment Management Ltd.
1M ago
Portfolio Manager Karan Phadke discusses his views on the global markets and the performance of the global small-cap portfolio. He illustrates how businesses are adapting to and utilizing artificial intelligence (AI), highlighting the difference between the value-added reseller and IT consultant business models. Two portfolio holdings, CBIZ and Convatec, are discussed to demonstrate the team's focus on well-run, resilient companies that are trading at reasonable valuations. Key points from this episode: The U.S. remains a strong outperformer, while Europe continues to see more sluggish growth ..read more
Visit website
U.S. equity: Capitalizing on innovation and protecting against pitfalls | EP156
Art of Boring
by Mawer Investment Management Ltd.
1M ago
In this episode, Portfolio Manager Colin Wong shares strategic insights on disruptive technologies and recent adjustments in the U.S. equity portfolio. Colin discusses how his team navigates market exuberance, consensus risks, and economic ebbs and flows with a focus on resilient returns. Through compelling examples, Colin provides actionable insights on benefitting from innovation without betting the farm on a single theme. Key points from this episode: The three main sources of stock market return are earnings per share growth, multiple expansion, and dividends. Similar to the Internet in t ..read more
Visit website
Fishing in Less Crowded Ponds: Identifying opportunities in Emerging Markets | EP155
Art of Boring
by Mawer Investment Management Ltd.
2M ago
Portfolio Manager Wen Cheong debunks the perceived challenges of investing in the emerging market space, highlighting his team’s concentrated approach and candour. He details how his focus on best-in-class management and passion for identifying attractive valuations has powered returns.   Key points from this episode:   • Small-cap companies are a pond with fewer rocks; opportunities can be found in steady, established businesses with competitive advantages. • The slump in semiconductor demand in 2023 was primarily driven by a normalization in post-pandemic demand and macro challenge ..read more
Visit website
Moody Mr. Market: Finding opportunities in the Canadian small-cap space amid changing market psychology | EP153
Art of Boring
by Mawer Investment Management Ltd.
2M ago
Portfolio Manager Samir Taghiyev discusses the current landscape of the Canadian small-cap space through the lens of the “Mr. Market” narrative and crowd-driven sentiments. Using Converge Technology Solutions as an example, Taghiyev sheds light on his team’s due diligence process and how they find opportunities by tuning out the noise. Key points from this episode: The mood of the markets can change very quickly, highlighting the importance of due diligence Investors should be aware of market narratives but not get caught up in them Diligence on business, management, and valuation is key to f ..read more
Visit website
Quarterly Update | Q1 2024 | EP152
Art of Boring
by Mawer Investment Management Ltd.
3M ago
As markets continue on a dynamic trend, fixed income portfolio manager Crista Caughlin discusses the economy and factors that drove markets in the first quarter of 2024. In addition, the reemergence of a more typical correlation pattern between stocks and bonds, getting central banks off the sidelines, and the concern that markets may be being too complacent. Key points from this episode: Global growth improving, inflation moderating, and earnings relatively strong In Canada, growth has improved although consumption remains weak when compared to the U.S. Moving with caution: strong data has b ..read more
Visit website
Why Position Size Matters in Investing | EP151
Art of Boring
by Mawer Investment Management Ltd.
3M ago
Portfolio Manager Manar Hassan-Agha discusses the importance of position sizing in investing and how factors like behavioural biases, market structures, and optimal betting strategies under the Kelly Criterion can impact returns at varying position weights. The conversation explores limitations in precisely calculating probabilities and edges for stock investments and how frameworks and checklists can be used dynamically to thoughtfully consider odds, edges, and optimal sizing for investment decisions. This discussion highlights the various personas or strategies that investors can adopt in de ..read more
Visit website
Playing the plan: Mawer's International equity portfolio | EP150
Art of Boring
by Mawer Investment Management Ltd.
4M ago
Portfolio Manager Peter Lampert breaks down the decision to re-open the strategy to new institutional investors and the key inputs that determine the strategy’s capacity. In addition, “a tale of two acquisitions”: one head scratching, the other improving the investment thesis of the holding. Key Points From This Episode: Breaking down the decision to re-open the strategy to new institutional investors How the team determines the strategy’s capacity A puzzling acquisition by KDDI and a potential value creating acquisition by Novo Nordisk Evaluating the implications of rising interest rates on ..read more
Visit website
Post-Mortem: Learnings from 2023 | EP149
Art of Boring
by Mawer Investment Management Ltd.
4M ago
In this episode, host Rob Campbell and 11 colleagues on the research team engage in a comprehensive post-mortem analysis, sharing candid reflections on their decision-making processes over the past year. This episode underscores the significance of learning from both successes and mistakes, highlighting the value of vulnerability and introspection within the investment team at Mawer. A Few Highlights: •  Investing before comfort in competitive markets is necessary for returns •   Less complexity in investment strategies often results in more alpha •  Significant market changes c ..read more
Visit website

Follow Art of Boring on FeedSpot

Continue with Google
Continue with Apple
OR