Yet Another Value Podcast Yet Another Value's special situation: Sage Therapeutics $SAGE
Feb 20, 2025
Dive into the intriguing world of Sage Therapeutics, a biopharmaceutical firm revolutionizing brain health solutions. The discussion navigates the clash between active and passive investing strategies, emphasizing the importance of shareholder engagement. Unpack the drama behind Sage's rejection of Biogen's merger offer and explore the dynamics of corporate governance in the company. The spotlight shines on Zerzube, a promising drug for postpartum depression, showcasing the hidden gems within Sage's portfolio.
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Mayonnaise Mayhem
- Andrew Walker shares a story about a coupon loophole leading to unexpected consequences.
- This highlights the importance of expert calls for uncovering hidden risks.
Passive vs. Active
- Passive investing's rise changes corporate governance, as passive managers prioritize box-checking over value creation.
- Active managers must identify companies maximizing long-term value and engage for better outcomes.
Shareholder Engagement
- Andrew Walker introduces the "leave it" theory, urging shareholders to engage with boards.
- Shareholders should guide companies towards value-maximizing decisions.