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Single best idea in a most unusual time. I really tried to read it on the eighty billion dollar equity transaction of Google. Absolutely fascinating and some of the whispers there of another time and place are noted. We started strong in that regard to Ted Mortenson, legendary it Baird on technology. Ted Mortensen on this moment.
This is a war for talent, and if you really look at all these companies, it's all about engineers. I mean, at the end of the day, it's product innovation through brilliant engineers. And I think they're just stop gapping, you know, with the intensity of free cash flow on the Capex builds. They're just finding another avenue to employees.
Ted Martinson on the two minute summary for you is simple. Actually it'll be the fourteen second summary. It's just simple. He's a huge optimist about this innovative moment across America. I want a joy to have Franciscannon with this legendary at the Royce Value Trust. That is small cap small caps doing much better I think than the zeitgeist and is undergood. Francis Gannon of Boston College and the Royce Value Trust.
Value for us is, you know, I think value is like most things on Wall Street, is one of the most overused words on Wall Street. People can find value in a lot of different ways, just like quality, qualities and other overuse word. Everybody says they're you know, what they own his quality. You know, balance sheet is very important. We tend to focus on companies that don't need leverage or access to the capital markets, which you know, again to that idea of being able to sleep over at night,
especially with a small cap company. Management teams are incredibly important, and I think of us as following small cap companies through life cycles when the founding team is managing it, when they leave it to the next generation who doesn't manage it as well when the professional manager comes back in. So we try to know these businesses incredibly well, and you know, we follow them for a long periods of time.
Francis Gannon of the Royce Value Trust on podcasts, we're out at Spotify, at Apple and of course on YouTube. It's single best idea