The Long View

Ankur Crawford: ‘When Software Begins to Write Software, Innovation Is Exponential’

Sep 24, 2024

Ankur Crawford, a senior vice president and portfolio manager at Fred Alger Management, shares her journey from engineering to finance, emphasizing the analytical mindset that shapes her investment strategies. The discussion dives into the transformative impact of AI on productivity and innovation, comparing its disruption to historical technologies like the steam engine. Crawford also examines the complexities of regulating AI, the influence of geopolitical events on market volatility, and the intricacies of growth versus value investing in today’s concentrated market.

50:51

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Ankur Crawford

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Quick takeaways

Ankur Crawford emphasizes that AI advancements are democratizing computing power, reshaping business models similar to past technological revolutions.

Crawford highlights the necessity of distinguishing types of market volatility, urging investors to identify fundamentals rather than react to fear-driven fluctuations.

Deep dives

Unconventional Journey to Investment Management

Ankur Crawford's path to becoming a portfolio manager is uniquely shaped by her diverse upbringing and academic background. Growing up in multiple countries and attending numerous schools, she developed a keen curiosity and questioning mindset. After receiving a PhD in material science from Stanford, she initially pursued a career in engineering at Intel, which cemented her logical and analytical thinking. This foundation later influenced her investment approach, as she embraced finance driven by her intrinsic interest rather than external recruitment.

Intro

3min

From Academia to Investment: The Impact of Engineering on Financial Strategy

4min

Navigating Market Volatility and AI Transformation

17min

Exploring AI's Impact on Productivity and Innovation

2min

Navigating AI Regulation and Investment

9min

Navigating Value Stocks and Market Dynamics

11min

Growth, Value, and Remembrance

5min

Our guest this week is Ankur Crawford. Ankur is a executive vice president and portfolio manager at Fred Alger Management, based in New York City. Ankur comanages the Alger Capital Appreciation Fund, which is highly regarded by Morningstar’s Manager Research Team, among other US large-cap growth equity strategies. She’s also the sole manager in the Alger Concentrated Equity Strategy, which is available as both an ETF and a traditional mutual fund. Prior to joining Alger in 2004, Ankur worked as an engineer at Intel and earned a PhD in material science and engineering from Stanford.

Background

Bio

Alger Capital Appreciation Fund

Alger Concentrated Equity Strategy

Market Volatility

“Bad News Is Good News for the Market Again, Says Alger’s Ankur Crawford,” Closing Bell interview, cnbc.com, May 14, 2024.

“The ‘Magnificent 7’ Should Have Another Good Earnings Season, Says Alger’s Ankur Crawford,” Closing Bell interview, cnbc.com, June 20, 2024.

Artificial Intelligence

“AI and the Declining Cost to Create,” by Ankur Crawford and Patrick Kelly, alger.com.

“Empowering Intelligence,” by Ankur Crawford and Patrick Kelly, alger.com.

“Still Very Early on in the AI Megacycle, Says Alger’s Crawford,” Squawk on the Street interview, youtube.com, Feb. 15, 2024.

“AI Adoption Looks Like ‘Structural Imperative’ for all Companies, Says Alger’s Ankur Crawford,” Closing Bell interview, youtube.com.