How Do You Build a Thesis for Your Investments?

Ana Navarrette: How we go about choosing and building a thesis is a bit of top-down as well as bottoms up work. We're an outbound sourcing heavy culture so what we want to do is first identify a specific subsector that we think there'll be a lot of depth to invest. From there we try to develop individual subsector theses that are really dependent on what we call demonstrable demand.