Post-Mortem: Learnings from 2023 | EP149

Art of Boring

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 can take longer to affect companies than expected • Large acquisitions are risky; patience in evaluation is key • Leaning harder on inductive evidence and numbers for decision-making • Understanding the importance of parent companies in investment decisions • Finding a balance in analysis depth to retain key insights without becoming lost in the details Host: Rob Campbell, CFA, Institutional Portfolio Manager

Guests: Christian Deckart CFA, PhD, Mawer Deputy CIO, Portfolio Manager Mark Rutherford CFA, Mawer Portfolio Manager Grayson Witcher CFA, AB, Mawer Portfolio Manager John Wilson CFA, Mawer Portfolio Manager Samir Taghiyev CFA, Mawer Portfolio Manager David Ragan CFA, Mawer Portfolio Manager Siying Li CFA, Mawer Equity Analyst Jeff Mo CFA, Mawer Portfolio Manager Curtis Elkington CFA, Mawer Credit Analyst Peter Lieu CFA, Mawer Portfolio Manager Asim Hussain CFA, Mawer Equity Analyst For more details and full transcript visit: [episode link] This episode is available for download anywhere you get your podcasts. -- Founded in 1974, Mawer is a privately owned independent investment firm managing assets for institutional and individual investors. Mawer employs over 250 people in Canada, U.S., and Singapore. Visit Mawer at https://www.mawer.com. Follow us on social: Twitter - https://www.twitter.com/Mawer_Invest LinkedIn - https://www.linkedin.com/company/mawer-investment-management/