
The Value Perspective
The Value Perspective with Jacob Mitchell – episode 2
Oct 24, 2024
In this engaging discussion, Nick Kirrage, Head of the Value Team at Schroders, and Jacob Mitchell, CIO at Antipodes Partners, explore the dynamic world of value investing. They dive into their contrasting strategies for identifying undervalued stocks, emphasizing the importance of macroeconomic understanding. The duo candidly shares lessons from their most painful mistakes, navigates the complexities of investing in China, and examines the balance between client expectations and robust portfolio construction. Tune in for valuable insights!
50:46
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Quick takeaways
- The podcast emphasizes the contrasting value investing strategies of Schroders and Antipodes, focusing on intrinsic value versus growth resilience in stock selection.
- Both managers underscore the critical role of learning from past investment mistakes and aligning their strategies with client expectations to achieve success.
Deep dives
Understanding Value Investing Approaches
Two distinct approaches to value investing are discussed, highlighting the strategies employed by both Schroder’s and Antipodes. Schroder’s focuses on identifying companies that trade below their intrinsic value, often due to market overreactions to news, which creates opportunities to purchase undervalued stocks with promising long-term prospects. In contrast, Antipodes takes a more pragmatic stance, seeking companies that are mispriced in relation to their growth and resilience, thus offering a balanced mix of high multiples alongside undervalued entities. The discussion emphasizes that both methods aim for attractive shareholder returns but differ in assessing the underlying reasons for mispricing.
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