CFASociety Minnesota's video: After the Virus: How the Pandemic May Change Things

Featuring Stuart Dunbar and Joseph Stellato, CFA Baillie Gifford International, LLC Recorded August 27, 2020 Presented by CFA Society Minnesota After speaking at last year’s annual CFA conference in London, Stuart Dunbar, partner at Baillie Gifford, was again on the agenda at this year’s annual CFA conference in Atlanta. Due to the pandemic, that was unable to happen ... therefore, CFA Society Minnesota is delighted to bring you this webinar instead! In this webinar, Stuart and Joseph cover: - Have we learned anything from the Covid-19 crisis? Not really, but… - Growth vs value perhaps never made sense. It really doesn't now - Gearing up a balance sheet isn't investing. Investing is deploying capital into real projects - There are new and better ways of doing things, and they're arriving fast - People change behavior when the pain of adoption is lower than the pain of change - When necessary evils become unnecessary - Returns over the long term are massively skewed to a tiny number of companies. CAPM is totally wrong. How does it survive as a basis for investing? - Some of the new breed of companies are infrastructure. That means governance matters more than competition. - You're not going to find asymmetric growth by looking at annual reports For a copy of the slide deck, please send an email to: Joseph.Stellato@bailliegifford.com