Capital Allocators – Inside the Institutional Investment Industry

[REPLAY] Paul Black - Gratitude, Fun, and Growth Stocks (Capital Allocators, EP.51)

Dec 20, 2021

Paul Black, Co-CEO and portfolio manager at WCM Investment Management, shares his wisdom on growth stock investing from his extensive experience in the financial industry. He defines what makes a great growth company and emphasizes the importance of corporate culture in driving success. Paul also discusses lessons learned from failures and the significance of perseverance. He provides insights into navigating market challenges and highlights the impact of a positive workplace culture on investment outcomes, ensuring a captivating discussion for investors and enthusiasts alike.

55:42

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Episode guests

Paul Black

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Episode notes

Intro

5min

Growth Investing and Company Culture Insights

29min

Navigating Active Management Challenges

8min

Unveiling Growth Stock Dynamics

8min

Patterns and Pitfalls in Capital Allocation

2min

Navigating Portfolio Growth and Memorable Sports Moments

2min

The Power of Perseverance and Optimism

5min

Paul Black is Co-CEO and portfolio manager at WCM Investment Management, a $26 billion manager of global equities that he joined when it was a $200 million boutique in 1989. With so much of the institutional world, including my own training, focused on value investing, I was pleasantly surprised to learn about a large, high performing growth stock manager located in a non-descript building in Laguna Beach, California. Our conversation starts with Paul’s trial-by-fire entry into the business and turns to growth stock investing, including defining a great growth company, searching for widening moats, assessing a culture tied to competitive advantage, creating a positive culture, learning from mistakes, identifying tailwinds, and protecting the downside. Paul embodies the principals he preaches and offers some tasty food for thought. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership