Capital Allocators – Inside the Institutional Investment Industry [REPLAY] Paul Black and Mike Trigg – How to Build a $100B Money Manager (Capital Allocators, EP.227)
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Feb 5, 2024 Paul Black, co-founder of WCM Investment Management, and Mike Trigg, portfolio manager at the same firm, dive deep into transforming a struggling financial company into a $100 billion giant. They discuss the pivotal role of culture, innovative hiring practices, and the need for truth-telling in fostering a supportive workplace. The conversation highlights balancing care with accountability, leadership transitions, and the importance of cultural fit. They also reflect on personal growth, mentorship, and the commitment necessary for long-term success.
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WCM's Unconventional Path
- WCM's unconventional path to success involved underperforming, losing clients, and then pivoting to an international strategy.
- The team consisted of inexperienced managers and a Columbia Business School dropout, yet they achieved phenomenal returns.
Thinking Differently
- Conventional wisdom in investing often leads to average returns.
- WCM found success by focusing on the trajectory of a company's competitive advantage rather than just its size.
WCM's Core Values
- WCM's core research values, "think different" and "get better," combat industry groupthink and fear of failure.
- These values encourage continuous improvement and create a safe space for vulnerability and growth.