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The Value Perspective

Latest episodes

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Apr 3, 2025 • 1h 2min

The Value Perspective with Greg Dean

Greg Dean, founder of Langdon Equity Partners and former investment expert at Fidelity, shares his journey into entrepreneurship. He discusses the challenges of launching an independent asset management firm amid COVID-19 and rising inflation. Greg highlights the importance of strong relationships and decision-making in a boutique setting. He dives into the nuances of small cap investing, revealing overlooked opportunities, and navigates the debate between active and passive management, stressing the need for diversification in today’s market.
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Mar 24, 2025 • 42min

The Value Perspective with Nick Train

In this episode of the Value Perspective we’re joined by Nick Train, co-founder of Lindsell Train and a legendary figure in the investment world. Nick is the portfolio manager for UK equity portfolios and jointly manages Global equity portfolios. With over 40 years’ experience, he made a name for himself as a high conviction buy and hold investor. This episode is co-hosted by the head of the Value Team Nick Kirrage and the newest member of our team, analyst Tom Grady. Tom is an experienced UK market investor with over 10 years in the field and brings a fresh perspective to this in-depth conversation. We dive into the UK market, exploring how to think in probabilities in a long-term investing process; the changes in the UK market in the last 25 years and what can be done to revive it; and why it’s hard to see the quality of companies outside the US. Enjoy! NEW EPISODES: We release main series episodes every two weeks on Mondays. You can subscribe via Podbean or use this feed URL (https://tvpschroders.podbean.com/feed.xml) in Apple Podcasts, Spotify, Google Podcasts and other podcast players. GET IN TOUCH: send us a tweet: @TheValueTeam  Important information. This podcast is for investment professionals only. Marketing material for Financial Professionals and Professional Clients only.  The material is not intended to provide, and should not be relied on for, accounting, legal or tax advice, or investment recommendations.  Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions.  Past Performance is not a guide to future performance and may not be repeated.  Diversification cannot ensure profits or protect against loss of principal.  The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.  Exchange rate changes may cause the value of investments to fall as well as rise.  Investing in emerging markets and securities with limited liquidity can expose investors to greater risk.  Private assets investments are only available to Qualified Investors, who are sophisticated enough to understand the risk associated with these investments.  This material may contain “forward-looking” information, such as forecasts or projections. Please note that any such information is not a guarantee of any future performance and there is no assurance that any forecast or projection will be realised.  Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions. The views and opinions contained herein are those of the individuals to whom they are attributed and may not necessarily represent views expressed or reflected in other Schroders communications, strategies or funds.  Any reference to regions/ countries/ sectors/ stocks/ securities is for illustrative purposes only and not a recommendation to buy or sell any financial instruments or adopt a specific investment strategy. Any data has been sourced by us and is provided without any warranties of any kind. It should be independently verified before further publication or use. Third party data is owned or licenced by the data provider and may not be reproduced, extracted or used for any other purpose without the data provider’s consent. Neither we, nor the data provider, will have any liability in connection with the third party data.  
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Mar 20, 2025 • 42min

The Value Perspective with Craig Thomas

In this episode in our Allocator’s Edge mini-series we welcome Craig Thomas, Chief Investment Officer of Verger Capital Management. In this role, he oversees all aspects of the firm’s investment process, including asset allocation, portfolio construction and manager selection. Prior to co-founding Verger, Craig spent ten years performing similar investment duties for Wake Forest University’s Office of Investments where he most recently served as Director of Investments. He also serves as a mentor with Girls Who Invest, is a board member of Disability Advocates of Northwest North Carolina, and has also served as an Advisory Board member to a number of investment partnerships. And if the name Verger Capital Management is ringing bells, it may be because the firm’s CEO Jim Dunn was a guest on the podcast last year. In the episode we chat with Craig about putting Verger’s 3 Ps into practice; the importance of portfolio diversification and liquidity in uncertain times; dealing with higher inflation and maintaining a focus on absolute returns; and finally, reasons to select and change fund managers. Enjoy! NEW EPISODES: We release main series episodes every two weeks on Mondays. You can subscribe via Podbean or use this feed URL (https://tvpschroders.podbean.com/feed.xml) in Apple Podcasts, Spotify, Google Podcasts and other podcast players. GET IN TOUCH: send us a tweet: @TheValueTeam  Important information. This podcast is for investment professionals only. Marketing material for Financial Professionals and Professional Clients only.  The material is not intended to provide, and should not be relied on for, accounting, legal or tax advice, or investment recommendations.  Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions.  Past Performance is not a guide to future performance and may not be repeated.  Diversification cannot ensure profits or protect against loss of principal.  The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.  Exchange rate changes may cause the value of investments to fall as well as rise.  Investing in emerging markets and securities with limited liquidity can expose investors to greater risk.  Private assets investments are only available to Qualified Investors, who are sophisticated enough to understand the risk associated with these investments.  This material may contain “forward-looking” information, such as forecasts or projections. Please note that any such information is not a guarantee of any future performance and there is no assurance that any forecast or projection will be realised.  Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions. The views and opinions contained herein are those of the individuals to whom they are attributed and may not necessarily represent views expressed or reflected in other Schroders communications, strategies or funds.  Any reference to regions/ countries/ sectors/ stocks/ securities is for illustrative purposes only and not a recommendation to buy or sell any financial instruments or adopt a specific investment strategy. Any data has been sourced by us and is provided without any warranties of any kind. It should be independently verified before further publication or use. Third party data is owned or licenced by the data provider and may not be reproduced, extracted or used for any other purpose without the data provider’s consent. Neither we, nor the data provider, will have any liability in connection with the third party data.
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Mar 10, 2025 • 57min

The Value Perspective with David Marcus – part 2

In this engaging conversation, David Marcus, a seasoned value investor with a rich background in stock-picking and family office management, shares insights from his remarkable career. He discusses the evolution of deep value investing in Europe and navigates the challenges of managing permanent capital. Marcus reflects on key partnerships, including a pivotal $100 million investment and the impact of mentorship on his journey. He contrasts active versus passive investment strategies while emphasizing the potential hidden in Europe’s complex market landscape.
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Mar 3, 2025 • 1h 4min

The Value Perspective with David Marcus – part 1

David Marcus, a veteran value investor with a distinguished career managing hedge funds and family offices, shares his insights from over three decades in finance. He reflects on his time at Mutual Shares and the vital lessons learned during the 1987 market crash. David recounts memorable experiences working alongside legendary investor Michael Price and discusses the importance of deep analysis in value investing. The conversation also touches on unconventional investment strategies from the 1980s and the value of mentorship in shaping a successful career.
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13 snips
Feb 27, 2025 • 1h 3min

The Value Perspective with Bob Brackett 2.0

Bob Brackett, a materials analyst at Alliance Bernstein, and Mark Walker, CIO of Coal Pension Trustees, explore the evolving landscape of commodities and energy. They discuss the potential impact of a new Trump era on oil and gas, and how copper plays a vital role in electrification. The conversation sheds light on Greenland’s mineral wealth, the state of nuclear energy in the West, and the rising significance of uranium. Also, they touch on transformative technologies like Deepseek and the complexities of capital allocation amidst shifting energy demands.
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Feb 17, 2025 • 45min

The Value Perspective with Jim Osman

This week on the Value Perspective we’re delighted to be joined by Jim Osman. Jim is the founder and Chief Vision Officer at The Edge, a research firm dedicated to identifying and analysing unique investment opportunities, with a particular focus on spin-offs, demergers and distressed credit opportunities. With decades of experience in equity research and portfolio strategy, Jim has built a reputation for delivering deep, actionable insights to investors. In this episode we discuss; the intricacies of spin-offs, and what makes them such a compelling area of focus; what The Edge is and what makes research in spin-offs so crucial; the role of incentivised management teams in driving the success of spin-offs; why the US market is particularly fertile for spin-offs compared to other regions; which sectors tend to perform best in the spin-off space; and finally, how AI might shape the future of special situations’ investing. Enjoy! NEW EPISODES: We release main series episodes every two weeks on Mondays. You can subscribe via Podbean or use this feed URL (https://tvpschroders.podbean.com/feed.xml) in Apple Podcasts, Spotify, Google Podcasts and other podcast players. GET IN TOUCH: send us a tweet: @TheValueTeam  Important information. This podcast is for investment professionals only. Marketing material for Financial Professionals and Professional Clients only.  The material is not intended to provide, and should not be relied on for, accounting, legal or tax advice, or investment recommendations.  Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions.  Past Performance is not a guide to future performance and may not be repeated.  Diversification cannot ensure profits or protect against loss of principal.  The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.  Exchange rate changes may cause the value of investments to fall as well as rise.  Investing in emerging markets and securities with limited liquidity can expose investors to greater risk.  Private assets investments are only available to Qualified Investors, who are sophisticated enough to understand the risk associated with these investments.  This material may contain “forward-looking” information, such as forecasts or projections. Please note that any such information is not a guarantee of any future performance and there is no assurance that any forecast or projection will be realised.  Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions. The views and opinions contained herein are those of the individuals to whom they are attributed and may not necessarily represent views expressed or reflected in other Schroders communications, strategies or funds.  Any reference to regions/ countries/ sectors/ stocks/ securities is for illustrative purposes only and not a recommendation to buy or sell any financial instruments or adopt a specific investment strategy. Any data has been sourced by us and is provided without any warranties of any kind. It should be independently verified before further publication or use. Third party data is owned or licenced by the data provider and may not be reproduced, extracted or used for any other purpose without the data provider’s consent. Neither we, nor the data provider, will have any liability in connection with the third party data.  
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6 snips
Feb 3, 2025 • 54min

The Value Perspective with Jake Taylor 3.0

Jake Taylor, a seasoned value investor and author of "The Rebel Allocator," returns to share his insights on evolving in the investment landscape. He highlights the importance of listening during times of social isolation and discusses the intriguing business of chicken sexing as a metaphor for trusting intuition. The conversation also touches on the psychological safety of holding cash and connections between the shipping industry and active management. Finally, Jake reflects on life's limitations and the importance of purposeful living.
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8 snips
Jan 30, 2025 • 45min

The Value Perspective with Madison McCall

Madison McCall, an active product specialist at Vanguard since 2017, brings her journalism background to the forefront of fund management. She discusses what it means to have an edge in fund research and the significance of the 4P framework. The conversation dives into why patience is essential in investment strategies and how Vanguard views the ongoing debate between active and passive investing. Madison also emphasizes the crucial distinction between compelling narratives and factual performance metrics in evaluating asset managers.
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8 snips
Jan 20, 2025 • 45min

The Value Perspective with Eva Shang

This week, Eva Chang, the co-founder and CEO of Legalist, shares her journey from dropping out of Harvard to leading a pioneering firm in litigation finance. She discusses how Legalist uses technology, including AI, to transform funding in this niche market. Eva delves into the complexities of patent litigation and how investors approach this unique asset class. She emphasizes the delicate balance between high-risk litigation finance and more stable investments like government receivables, all while navigating the unpredictable landscape of entrepreneurship.

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