Capital Allocators – Inside the Institutional Investment Industry [REPLAY] - Mike Trigg – Defying the Fade at WCM (Capital Allocators, EP.162)
Dec 20, 2021
Mike Trigg, a partner and portfolio manager at WCM, shares his journey from The Motley Fool to transforming WCM into a powerhouse with over $66 billion in assets. He discusses the firm’s strategy of focusing on companies with strong 'moats' and a lasting competitive edge. The conversation highlights how company culture impacts investment decisions and the importance of adapting to market challenges. Trigg also emphasizes the value of kindness in professional interactions and offers insights into maintaining personal growth amid the complexities of investing.
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Joining WCM
- Mike Trigg joined WCM in 2005 after a lunch with Paul Black.
- Initially impressed, he soon realized the firm's focus wasn't investor-first.
WCM's Struggles
- WCM's performance struggled after Trigg joined, leading to internal issues and a drop in assets.
- The firm used a flawed "wisdom of crowds" approach in investment decisions.
Learning from Mistakes
- WCM's struggles led to valuable lessons, including the importance of moat trajectory.
- Focusing on wide moats and cheap prices led to missing key growth opportunities like Apple and Amazon.
