Enterprising Investor

Episode #445 What Lies Ahead for the Investment Management Industry? Heather Brilliant, CFA, chief executive and president of Diamond Hill Capital Management, discusses the outlook for active management, value investing, and small caps and what these forces mean for the future of the industry and CFA charterholders. Episode Transcript: http://static.3playmedia.com/p/files/5531340/threeplay_transcripts/16494450?format_id=46&project_id=18442&format=pdf Topics discussed: • 3:45 - Values vs. Growth: Has the demise of value been exaggerated? Or has value done better than we think? • 7:10 - Do we have a flowed definition of value? • 9:10 - The implications of the shift to passive • 11:01 - What are some other areas where you think active management outperforms? • 13:20 - How to stay relevant and what is the future of work in the asset management industry? • 15:00 - Asset industry is becoming the barbell industry. What types of firms are on either side and what's happening in the middle? • 16:58 - ESG factors and sustainable investing. How is Diamond Hill thinking about ESG? • 19:39 How do you prevent a focus on short-termism as a public company? • 20:31 - COVID-19: How are you keeping employees motivated? What did you do this year that was different than in previous years? • 23:05 What longer term scars will COVID-19 leave on investors of your generation? • 25:20 - What have you read this year that you enjoyed or got you thinking? • 26:23 – Wrap up questions Related article and links: Greenwich Associates: https://www.greenwich.com/decision-time-asset-managers-report-download Diamond Hill Sustainability Policy: https://www.diamond-hill.com/content/sustainability-policy/default.fs Diamond Hill's Pledge: https://www.diamond-hill.com/diamond-hill-pledge/ CFA Institute members and charterholders Professional Learning Tracker https://cpd.cfainstitute.org/ ____ ► Subscribe to the Take 15 Channel Here https://www.youtube.com/channel/UCA3HUMuK4FSp_CvQH_2Ji7g ____ Find Lauren here: LinkedIn: https://www.linkedin.com/in/lauren-foster/ Twitter: https://twitter.com/laurenfosternyc Find Heather here: LinkedIn: https://www.linkedin.com/in/heather-brilliant-cfa-aa5a18/ Twitter: https://twitter.com/brilliantheath?lang=en

Investing Lessons from Warren Buffett to the Great Literary Detectiv Episode #443. Robert G. Hagstrom, CFA, senior portfolio manager at EquityCompass and author of the New York Times bestseller "The Warren Buffett Way," discusses his writing process, managing high active share portfolios, and hiring and firing portfolio managers. Episode transcript: http://static.3playmedia.com/p/files/5524640/threeplay_transcripts/16479796?format_id=46&project_id=18442&format=pdf Topics discussed: • 2:23 – How did you into the money management world? • 3:33 – Writing career • 6:13 – The writing process • 7:31 – A few highlights from the new book • 9:05 – What can investors learn from great literary detectives? • 10:41 – The challenges of managing high active share portfolios • 13:51 – How can investors who are selecting active equity manager maximize their odds for success? • 16:21 – How do you ensure that each day you become smarter and what roll does creativity play in your process? • 18:32: - Books that you find yourself returning to or recommending? • 20:33 – Luck vs. skill • 23:40 – What do you think separates the best from the average investor? • 24:30 – Wrap up questions Related articles and links: Enterprising Investor, Liberal Arts Investing: https://blogs.cfainstitute.org/investor/2019/10/10/robert-g-hagstrom-cfa-on-liberal-arts-investing/ Enterprising Investor, Hiring and Firing Portfolio Managers: Process and Outcomes: https://blogs.cfainstitute.org/investor/2019/01/16/hiring-and-firing-portfolio-managers-process-and-outcomes/ Pre-order Warren Buffet: Inside the Ultimate Money Mind on Amazon: https://www.amazon.com/Warren-Buffett-Inside-Ultimate-Money/dp/1119714591/ref=sr_1_1?dchild=1&qid=1611600866&refinements=p_27%3ARobert+Hagstrom&s=books&sr=1-1 CFA Institute members and charterholders Professional Learning Tracker https://cpd.cfainstitute.org/ ____ ► Subscribe to the Take 15 Channel Here https://www.youtube.com/channel/UCA3HUMuK4FSp_CvQH_2Ji7g ►Email us for comments, questions, or appearance requests:[email protected] ____ Find Lauren here: LinkedIn: https://www.linkedin.com/in/lauren-foster/ Twitter: https://twitter.com/laurenfosternyc Find Robert here: LinkedIn: https://www.linkedin.com/in/roberthagstrom Twitter: https://twitter.com/robertghagstrom?lang=en

The Power of Words and Leading with Compassion Episode #438. Shundrawn Thomas, president of Northern Trust Asset Management, discusses what true diversity, equity, and inclusion look like, the importance of “compassionate leadership” during the pandemic, and whether or not he is encouraged about the possibility of real change when it comes to addressing racial injustice. Episode transcript: http://static.3playmedia.com/p/files/5434402/threeplay_transcripts/16211005?format_id=46&project_id=18442&format=pdf    Topics discussed: • 3:04 - The moment that compelled you to speak out on race and what has the journey been like? • 5:40 – Be encouraged. Are you encouraged? • 7:06 - Prisoner of hope • 8:20 - Race and the US presidential elections: What now? Where to from here? • 10:39 - How do we get people to have open, candid, and courageous conversations regarding race? • 11:55 - Race Car Project: what are your six-word micromemoir’s? • 12:23 - Diverse senior appointments: How you have done it? What can others learn from the process so that they too can build diverse teams? • 14:40 - Equity, inclusion, and diversity. Share how you think about those? • 15:58 - Compassionate leadership • 17:41 - Wrap-up questions  Related articles and links Purchase Discover Joy in Work: Transforming You Occupation into Your Vocation here CFA Institute members and charterholders Professional Learning Tracker https://cpd.cfainstitute.org/  ____   ► Subscribe to the Take 15 Channel Here https://www.youtube.com/channel/UCA3HUMuK4FSp_CvQH_2Ji7g    ►Email us for comments, questions, or appearance requests:[email protected]   ____   Find Lauren here: LinkedIn: https://www.linkedin.com/in/lauren-foster/    Twitter: https://twitter.com/laurenfosternyc   Find Shundrawn here:   LinkedIn: https://www.linkedin.com/in/shundrawn-thomas-49812a5    Twitter: https://twitter.com/shundrawn?lang=en    Website: https://shundrawnthomas.com/