This week on the Value Perspective we’re joined by Josh Wolfe, the co-founder of Lux Capital and one of the most successful venture capitalists of the last generation. Josh couldn’t be more different that the Value Team because he invests in cutting-edge technology and things that may not even exist in five or ten years down the line. Even though what he invests in is in stark contrast to the Value Team, we found that he has a similar mindset, especially in how he applies probabilistic thinking ...
Aug 21, 2023•51 min•Ep 88•Transcript available on Metacast In this episode of our Meet the Manager series, Arjun Murti returns to the Value Perspective podcast to interview fund manager Andrew Lyddon. Arjun is a partner at Veriten, a knowledge and media platform with a focus on energy, technology and environmental trends, a director on the board of ConocoPhillips, a senior adviser to the Energy Group at Warburg Pincus, and an advisory board member at Columbia University’s Center on Global Energy Policy. He is also author of one of our favourite Substack...
Aug 17, 2023•57 min•Ep 87•Transcript available on Metacast If you listened to our recent episode featuring Sean Peche, you might recall that he said he’d like to meet James Montier, the author of one of his favourite books. Well today, that dream is coming true. Sean and Andy Evans welcome James to the Value Perspective podcast. James Montier is an author and member of GMO’s asset allocation team and a partner at the firm. Previous to his tenure at GMO, he was co-head of global strategy at Societe Generale. He is also a visiting fellow at Durham Univers...
Aug 07, 2023•1 hr•Ep 86•Transcript available on Metacast This Week Rob Gardner returns to the Value perspective podcast to interview Roberta Barr from the Value Team as part of our Meet the Manager miniseries. Both Roberta and Rob have a passion for ESG investing. Since his last appearance on the podcast, Rob has departed St James Place to start his new venture, Rebalance Earth, the world’s first holistic natural capital solution. The vision is to offset over a gigaton of carbon through nature based solutions, protecting and improving biodiversity and...
Aug 03, 2023•39 min•Ep 85•Transcript available on Metacast This week we’re delighted that Rich Howe joins us on the Value Perspective podcast. Rich specialises in special situation investing, mainly corporate spin-offs, hence the name of his popular blog Stock Spin-off Investing. You can also find him on Twitter. If you’re not familiar with spin-off stocks, a spin-off is a new and separate company that’s created when a parent company distributes shares in a subsidiary or business division to the parent company shareholders. Many famous investors have ma...
Jul 24, 2023•46 min•Ep 84•Transcript available on Metacast In the fourth episode of our Meet the Manager series – Simon Hallett returns to the Value Perspective podcast to interview Fund Manager Andy Evans. Football fans will remember Simon’s last appearance on the podcast because not only has he had an illustrious career as a professional investor, spending the majority of his time at Harding Loevner first as a fund manager and then finally as their CIO, he is also the Chairman of Plymouth Argyle F.C.. Since he last appeared on the podcast in January 2...
Jul 20, 2023•44 min•Ep 83•Transcript available on Metacast For this episode of our ESG series, we welcome Professor Robert Hayes who is an expert in all things nuclear. Robert is an Associate Professor of Nuclear Energy at North Carolina State University. He is also a certified health physicist and a licensed nuclear engineer. It is also worth noting that Robert has started a TikTok account to help younger generations understand all things nuclear and to fight back against the most common myths and misconceptions. That’s how we came across his work. Dur...
Jul 10, 2023•52 min•Ep 82•Transcript available on Metacast In the third episode in our Meet the Managers series, Scott Spencer, a partner within the Columbia Threadneedle Multi Manager Team interviews Vera German, one of the fund managers in the Value Team at Schroders. Scott has over twenty years of experience in researching funds. Before joining Columbia Threadneedle, he did turns at Aberdeen and Credit Suisse. Scott manages the deal activity of the funds in addition to his broader fund selection role. He leads the sector research teams for the US, As...
Jul 06, 2023•23 min•Ep 81•Transcript available on Metacast This week we’re joined by Amit Wadhwaney on the Value Perspective podcast. Amit started his career working for legendary value investor Martin J Whitman in the 1980s when Whitman was investing in bankruptcies. Amit followed Whitman to Third Avenue where he managed the boutique’s international strategies, including Emerging Markets. Amit is considered one of the earliest and longest-standing value investors in Emerging Markets. In 2014, Amit left Third Avenue to launch Moerus Capital Management w...
Jun 26, 2023•57 min•Ep 80•Transcript available on Metacast In the second episode of our Meet the Manager mini series, we welcome back Stacy Havener to the podcast, who turns the table to interview Andrew Williams and Ben Arnold, the Value Team’s investment directors. Stacy is the founder of Havener Capital, an agency dedicated to helping boutique asset managers build, launch and grow funds. She is the host of her own podcast Billion Dollar Back Story, where she interviews founders, portfolio managers and investors who have launched, seeded and scaled bi...
Jun 22, 2023•1 hr 7 min•Ep 79•Transcript available on Metacast This week we're replaying a master class with 10K Diver from March 2022. 10k runs an anonymous Twitter account which you may be familiar if you're a fan of financial Twitter like us. Over the past few years he's sky rocketed in popularity reaching over 200,000 followers who tune in for his incredible threads which explain complex decision making and financial theories in engaging and digestible ways. Enjoy! NEW EPISODES: We release main series episodes every two weeks on Mondays. You can subscri...
Jun 12, 2023•1 hr 18 min•Ep 46•Transcript available on Metacast This year is our tenth birthday, believe it or not, not as a podcast but as a value franchise here at Schroders. We wanted to celebrate this on the podcast by having a sort of party with some of our longest standing clients and past podcast guests, by inviting them in and flipping the table. Usually on the podcast we interview people from all walks of life on their expertise. But on this mini series called Meet the Manager our guests and clients are going to introduce us instead and finally ask ...
Jun 08, 2023•42 min•Ep 77•Transcript available on Metacast This week we're replaying a podcast episode we recorded with Simon Hallett in January 2022. Simon is a professional investor who spent a majority of his career at Harding Loevner as a fund manager and their CIO. In 2019, he began investing in the Plymouth Argyle FC and found many parallels between his career in investing and the management of a football club. Andy Evans and Joe Wiggins chatted with Simon about how he brings decision making processes and approaches to behavioural biases that he u...
May 29, 2023•45 min•Ep 36•Transcript available on Metacast This week we welcome Dan Rasmussen back to the Value Perspective podcast. Dan is the founder of Verdad Research and we last spoke with him in June 2021 to discuss his passion for history and how it helps him as a value investor. This time we discuss how reviled value is today relative to when we last spoke, how memory and probability work together, his contrarian view on Michael Porter’s five forces and quality investing, ergodicity and how volatility is not the best measure of risk but does mat...
May 15, 2023•51 min•Ep 75•Transcript available on Metacast Next week, we welcome Dan Rasmussen, the founder of Verdad Capital, back to the podcast for a second time. So we thought it would be worthwhile replaying our previous conversation back in June 2021 in case you may have missed it or would like to listen to it again. Dan is a deep value investor and a history buff who discussed his learning from the Covid Crisis over the previous year, how he utilises base rates in investment and how his interest in history (and not just financial) helps him make ...
May 11, 2023•54 min•Ep 16•Transcript available on Metacast This week we’re joined by Sean Peche, who you may know as a founder and portfolio manager at Ranmore Fund Management here in London, or from his popular content on LinkedIn. From either, you’ll know that Sean is not afraid to share his mind through thought-provoking commentary in his signature slightly cheeky style. Sean is also passionate about value investing so it was natural for us to grab him on the pod. Sean’s investment career began in South Africa in 1997 when he joined Old Mutual as an ...
May 02, 2023•50 min•Ep 73•Transcript available on Metacast This week we’re joined by Ben Inker from GMO, where he’s the Co-Head of Asset Allocation. He joined the firm right after graduation from college in 1992 and has worked very closely with finance legend Jeremy Grantham. He is also an active contributor to GMO’s most extensive research library. You can find some of Ben’s recent investment insights with the following links: https://www.gmo.com/americas/research-library/3q-2022-gmo-quarterly-letter_gmoquarterlyletter/ https://www.gmo.com/americas/res...
Apr 17, 2023•57 min•Ep 72•Transcript available on Metacast This week, we welcome Professor Steven Koonin to the Value Perspective podcast. Steve is a nuclear physicist by training and has a CV a mile long but highlights including being Undersecretary of Science during the first Obama administration, a professor at NYU School of Engineering and BP’s Chief Scientist. He is also the author of Unsettled: What Climate Science Tells Us, What It Doesn't, and Why It, a book that has provoked much debate since its publication in 2021. During the episode we discu...
Apr 03, 2023•43 min•Ep 71•Transcript available on Metacast This week, we are delighted to have retired General Sir Nick Carter as our guest on the Value Perspective podcast. General Sir Nick Carter served as the UK’s Chief of the Defence Staff from 2018 to 2021. This was the culmination of an illustrious military career spanning over four decades, which included commanding 55,000 Nato troops during the Afghan surge, and in his last tour leading the transition process with former Afghan president Ashraf Ghani as the deputy commander of the Nato mission. ...
Mar 20, 2023•34 min•Ep 70•Transcript available on Metacast This week famous historian Simon Sebag Montefiore joins us for the second of our two episodes marking the anniversary of Russia’s invasion of Ukraine. Simon is a bestselling and prizewinning author of history and fiction books, which have been published in 48 languages. His latest book is The World: A Family History. Simon has also written extensively on the history of Russia. We sat down to discuss: looking at history through the viewpoint of certain families; historical examples of gambling; S...
Mar 06, 2023•49 min•Ep 69•Transcript available on Metacast This week we welcome Steve Gorelik back to the podcast. Steve is Head of Research and a Portfolio Manager at Firebird Value Fund, a fund that specialises in investing in Russia and Eastern Europe. Back in September of 2022 Steve was our guest on an Eastern European special episode. As we reach the anniversary of Russia’s invasion of Ukraine, Steve has returned to the Value Perspective podcast as part of a two part series that continues with next week’s episode featuring well known historian Simo...
Feb 27, 2023•50 min•Ep 68•Transcript available on Metacast This week we have another entry in our Value Perspective ESG miniseries. We sat down with Bob Brackett, a Managing Director and Senior Research Analyst at Alliance Bernstein, based in New York and covering the North American oil and gas sector. He started his career working for Exxon Mobile and before joining equity research he worked for McKinsey. In 2018, he also wrote a short novella of sorts entitled How Tech Will End The Oil Age: A Tale of Whales, Wheels, Sails, Fails, Faeces, Fortunes, Mad...
Feb 06, 2023•58 min•Ep 67•Transcript available on Metacast This episode is part of out turnaround mini-series. This week, we’re pleased to have Andrew Schemmel as our guest on the Value Perspective podcast. Andrew is the co-founder and director of Eisvogel Group, the private equity firm that specialises in companies providing software, business services, industrial applications and technical products throughout Europe. Notably, Eisvogel is not a company that seeks to invest in turnaround situations, but in the case of one of their investments, due to a ...
Jan 23, 2023•50 min•Ep 66•Transcript available on Metacast Happy New Year and welcome back to the Value Perspective podcast. We’re kicking off 2023 with historian Edward Chancellor. You may know him as the author of Devil Take the Hindmost: A History of Financial Speculation, written in 1999, two years before the dotcom bubble burst, or as the author of Crunch Time for Credit? written in 2005, right before the global financial crisis. You might be sensing a pattern here. We sat down with Edward to discuss his newest book, The Price of Time: The Real Sto...
Jan 09, 2023•1 hr 3 min•Ep 65•Transcript available on Metacast This week we have a quick Christmas treat for you. It’s an episode with our returning guest Simon-Evan-Cook. Simon recently wrote a blog post called Solving Christmas: How to Make it Better Next Year which caught our eye. Simon sat down with us to discuss his piece which explains how Christmas is a complex adaptive system and to tell us about his mythical Merry Christmas tree. In this festive season we would also like to remind you of the quiz we are running on the blog with a prize for the winn...
Dec 19, 2022•16 min•Ep 64•Transcript available on Metacast This week we have friend of the Value Perspective podcast Joe Wiggins back for his third appearance. He has been both a guest and a co-host but this time we’re going to highlight him as an author. Joe has just published his newest book The Intelligent Fund Investor: Practical steps for better results in active and passive funds. We sat down with Joe to cover: the case for active fund management; what sort of things fund investors should be looking out for; why time is the greatest investor advan...
Dec 12, 2022•42 min•Ep 63•Transcript available on Metacast Believe it or not, it’s our third birthday here on the Value Perspective podcast. To celebrate, we are delighted to welcome back Annie Duke, our first guest when we kicked off this whole project three years ago. Coincidentally, this is also her third appearance on the podcast. We caught up with Annie to discuss her newest book Quit – The Power of Knowing When to Walk Away. Our wide ranging conversation covers: why it’s so difficult to walk away; why quitting is a powerful tool for any decision m...
Nov 28, 2022•1 hr 10 min•Ep 62•Transcript available on Metacast This week we have Ian Leslie on the show. Ian started his career in advertising but now writes and presents about human behaviour including psychology, culture, tech and business for publications like The New Statesman, The Economist, The Guardian and The FT. Most recently he wrote a book called Conflicted: Why Arguments Are Tearing Us Apart and How They Can Bring Us Together. He is also the author of the Substack The Ruffian where he covers everything from politics to decision making. We were d...
Nov 14, 2022•50 min•Ep 61•Transcript available on Metacast This week we have Stacy Havener on the show. Stacy is the founder and CEO of Havener Capital Partners, which is one of the leading independent sales and marketing agencies in financial services specialising in helping boutiques to raise capital. In fact, they have raised over 8 billion dollars for new, undiscovered or start-up funds that has led to over 30 billion dollars in follow on AUM. Please check out Stacy’s LinkedIn page where there’s great advice for sales and marketing in the industry. ...
Oct 31, 2022•1 hr 7 min•Ep 60•Transcript available on Metacast The Value Perspective with Dan Mikulskis Our guest this week is Dan Mikulskis. Dan is an investment partner at Lane Clark & Peacock or LCP. He is also the co-host of a very good podcast called Investment Uncut. He couples this work with a fortnightly newsletter with commentary on what has been happening in markets around the world, which you can subscribe to via LinkedIn. Dan is also particularly well versed with the LDI or liability driven investment crisis and why it caught the pension funds o...
Oct 24, 2022•55 min•Ep 59•Transcript available on Metacast 
