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Value: After Hours S02 E34 Dan Loeb on Strategy, Buy Now Pay Later $QVCC, Cocker Spandrels

The Acquirers Podcast

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What Are the Spandrels of Your Investment Process?

Michael Sandell: What are the things that sort of almost unintended consequences by products of your investment process? He says if you were a pure quant, what would be a possible spandrel of that? If you're just looking for the best businesses, it's quite possible to fall prey to some halo effective management team. Like CPGs tended to be those type of businesses without even trying to end up as a consumer products good investor because of their focus on sales rather than customer service. And all these other little sort of like, you know, spandrels that you may not be aware of.

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