Gary Channon (Phoenix Asset Management) - Experiments In Value Investing
Far From The Finishing Post
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Cultural Transformation Is Possible
Cambian's first experiment, which i think worked, at what is called cambian our wedding businesses. Good cultures win in that sort of competitive landscape. The idea that we're transparent and we respect each other ad treat other people like we treat ourselves would be laughed out of the room for a hedge fund. But deep in the company, we believe the cultural transformation is possible because of the type of people in the company. It's no simple thing, but it starts with writing down your principles. That process is going on inside dignt yt the moment as now, up till, i think, a couple of hundred people involved in setting them out.
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