Art Of Boring

In this episode, Peter Lampert, lead portfolio manager of the International Equity Strategy, provides insights on the team’s investment process, the state of the portfolio, and the main drivers that are currently having an outsized impact on performance, namely, semiconductors, obesity medicines, and defense companies. He details his team’s rigorous approach to evaluating management teams from both a quantitative and qualitative standpoint, providing an in-depth example of Hitachi. The conversation concludes with a brief discussion of the current macro environment. Key Takeaways: As enthusiasm surrounding artificial intelligence continues to grow, semiconductor companies have strong competitive advantages and dominant market share in their niche industries. According to the team’s DCF model, the long-term growth rates of companies like TSCM have increased, so they have trimmed back some positions to manage risks. With Novo Nordisk leading the way, the growing market for obesity drugs is expected to become th