Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders

Highlights:

• Looking at the impact of SPACs and recent history of the market (0:41)
• When the market 'pivoted' and institutions changed their transactional approach (4:06)
• The changes of structure relating to transaction negotiation (5:52)
• Don's opinion on regulation (13:30)
• The benefits of buying SPACs for investors (15:35)
• Sponsor and target relations (23:29)
• Media strategy difference between IPO and SPAC (28:02)
• How to deal with the threat of short-sellers (30:32)

Links:

ICR Twitter

ICR LinkedIn

ICR Website

Don Duffy LinkedIn

Feedback:

If you have questions about the show or topics you'd like discussed in future episodes, email our producer, [email protected]

The buy-side has analysts that know your industry, so why don't you know the universe of buyers? Asset managers have different strengths and different strategies. Knowing the players will help you find the best investment partner for your business. It also helps to know what they're looking for. On this episode, Laird Bieger, Vice President and Portfolio Manager of the Discovery Fund at Baron Capital, gives us a peek behind the curtain of a successful fund. What makes them confident enough to invest in a business, and how can you position yourself to receive that investment?

Highlights:

• The blessing and the curse of investing in small-cap off-the-radar businesses (7:10)
• Why the Discovery Fund focuses on specific subsectors (12:00)
• Why Laird loves talking to middle management when researching a company (13:46)
• The questions Laird asks to discern a company's growth potential (16:37)
• What is a "shadow list" (17:53)
• Why you should be more transparent when things are going poorly (19:30)
• Why it can be beneficial to be conservative in your guidance estimates (20:52)
• The importance of a bulletproof balance sheet (22:08)

Links:

ICR Twitter

ICR LinkedIn

ICR Website

Laird Bieger LinkedIn

Baron Funds

Baron Capital Group LinkedIn

Baron Funds Twitter

Mentioned in this Episode

Raven Industries

TradeDesk

Wingstop

HydraFacial

Floor & Decor

Tripadvisor

Sientra

Feedback:

If you have questions about the show or topics you'd like discussed in future episodes, email our producer, [email protected]

Effective sell-side analysts have to be well-versed in their industry. The best are experts on every aspect: consumer behavior, competitive landscape, and industry trends. Nicole Miller is one of those experts. As Senior Research Analyst at Piper Sandler, she has been conducting sell-side analysis for over 15 years, and is an authority on the restaurant and hospitality universe. We sat down with Nicole to talk how the restaurant industry drove value by adapting to COVID, what factors into her picks, and where she thinks equity research is headed.

Highlights

• How the restaurant industry has adapted during COVID (3:10)
• Structural changes that businesses made during the pandemic (6:05)
• What companies can do to help analysts (9:06)
• The companies that do the best don't care about their stock prices (12:28)
• How ESG factors into Nicole's analysis (13:13)
• How private companies are emerging from the pandemic (15:29)
• Where does Nicole think equity research is headed? (23:01)
• Why you should think long-term in a world focused on the present (25:14)

Links

ICR Twitter

ICR LinkedIn

ICR Website

Piper Sandler Website

Piper Sandler LinkedIn

Piper Sandler Twitter

Nicole Miller LinkedIn

Feedback:

If you have questions about the show or topics you'd like discussed in future episodes, email our producer, [email protected]

Introducing Welcome to the Arena, launching Q3 2021.

For more information, visit http://www.icrinc.com