Capital Ideas Podcast Running a tight, high-conviction portfolio in a noisy market
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Dec 4, 2025 Emme Kozloff, an equity portfolio manager at Capital Group with nearly two decades of experience, dives into the intricacies of managing high-conviction portfolios. She shares how her background in retail has sharpened her focus, emphasizing the importance of filtering noise in volatile markets. Emme discusses the strategic advantage of concentrated portfolios and the need for mental flexibility. She highlights real opportunities in AI and healthcare, while also advocating for women's investment literacy and recounting personal lessons learned from her career and health journey.
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Career Path From Disney To The Buy Side
- Emme Kozloff moved from Disney to Wall Street, then to the buy side after many interviews and persistence. She credits that early industry exposure for shaping her investment approach and career path.
Signal Versus Noise Shapes Style
- Retail taught Emme to separate signal from noise; diversified financials taught discipline and defensiveness. Combining both created an approach balancing offense and defense.
Change Quickly When Facts Change
- Use mental flexibility as an active edge and change positions when facts change. Prioritize durable business models, pricing power and strong management as initial filters.