The Ledger, every show

“If you look at our equity strategies since inception, over 80% of them have beaten the market after fees.”

“Everyone sees what everyone's doing, and the analysts manage money. They're not credit raters. They're not stock raters. They actually manage real client assets, which is different.”

“When JBL founded the company, he said in 1931, when my grandkids, who didn't exist at the time, when my grandkids pass away, no one in the Lovelace family should own any bit of Capital Group stock.”

“There's about a hundred investment professionals in each of those three equity units. There is a Chinese wall. They can't see what the others are doing. It is formal disaggregation, but they also have an environment where they can sit around an actual table an…”

“It's the reason why we'll have 3.2 trillion in a certain number of strategies that in all likelihood is less than all of our major competitors because that hurdle is so high.”

“What they have found, almost bar none in recent years, Is dealing with a multitude of asset management companies can be too noisy and hasn't necessarily generated better outcomes. So they are shrinking the number of partners they use. And when I say they, weal…”

“Over time, as you see the world of wealth, utilize the private markets and go from low single digit utilization to mid single digit and high single digits. It's going to be a case-by-case conversation with a financial advisor and a family.”

“Some institutions have long used alternatives, some too much, and they've had to borrow against some of those holdings recently to meet liabilities.”

“Part of the secret of the Capital's success is he kept the entity a hundred percent owned by himself until it was profitable. He didn't want anyone else to share in any of the losses that would come in any calendar year. Only after in the fifties Capital Group…”

“The average attrition rate in asset management's, 13 or 14%. Ours is half of that. This is across the entire 9400 person entity of capital group.”

“In the investment group, it's even lower. It's low single digit attrition in the investment group.”

“So they come and say, the average retirement age of a portfolio manager at Capital Group is in their sixties. It's not in their forties or fifties.”

“Last year, they did 21,000 company meetings. 21,000.”

“We've also digitized all 94 years of our written physical library. Now, if someone wrote a report on ExxonMobil in 1957, it would be in the system.”

“Don Valentine had worked at Capital Group before founding Sequoia, and it was determined at the time that it was best housed outside of the four walls of Capital Group to keep the focus on active public management.”

“The number of committees that report to both of those oversight groups is Is down 50% in the last handful of years.”

“If you look at the growth of the size of the public markets, in 1995, the U.S. Total market capitalization of the stock market was five trillion. Today, it's 65 trillion.”