Drew Dickson
18 statements across 1 episodes · 5 bullish · 3 bearish · 1 people on the record · first statement Nov 25, 2019 by Drew Dickson · across every show →
On the record as a speaker too: Drew Dickson's record, appearances and statements → this page counts the times other people say the name.
Everything said about Drew Dickson, oldest first
Nov 25, 2019
Rising Stock Prices Reduce Expected Returns and Mandate Position Trimming
“It's this notion of making sure that we have the mindset that this is the portfolio we would own today if we launched the fund today. And so if you find a security that's, you think it's worth a 150 euros a share and it's trading at a hundred and it's got down…”
Nov 25, 2019 positive
Alpha Requires Finding a Delta Versus Consensus, Not Just Great Businesses
“If we find a great management team that has a wonderful business that is spinning out tons of cash flows or eventually will, It sounds like a nice setup for a company, but if there's no delta, if there's no difference between our view and the market's view, th…”
Nov 25, 2019 negative
Investors Should Not Blindly Buy and Hold High-Quality Companies Forever
“We have a strong view that you shouldn't get married to your companies that good high quality companies, you just buy and hold forever. That's not our approach at all. It's much more driven by the fundamentals in the intermediate term.”
Nov 25, 2019
Nov 25, 2019 positive
Nov 25, 2019 negative
Holding Winning Stocks Past Their Original Investment Thesis Is a Mistake
“Some of the biggest lessons or mistakes for me would be owning things for a period of time, particularly when they do well. You think you're doing great, but then you ask yourself, well, why do I still own this thing? All the reasons I bought it for have happe…”
Nov 25, 2019
Albert Bridge Capital Ignores Sector and Country Benchmark Weights Entirely
“And by design, we do not care about overweights or underweights in particular sectors or countries. If it turns out that we're finding no healthcare equipment ideas in Switzerland, we don't own any healthcare equipment ideas in Switzerland.”
Nov 25, 2019
Nov 25, 2019
Short-Term LP Check-Ins Subconsciously Degrade Fund Manager Objectivity
“Even if you don't think you're being troubled by someone that's asking you how you're doing the first week of the month, it's affecting you. So if you have folks that don't ask you those questions, that just interested in the process, not the particular outcom…”
Nov 25, 2019
Nov 25, 2019
Nov 25, 2019 positive
Nov 25, 2019
Best Investment Edge Occurs When Consensus Ignores Clear Operational Changes
“Once you identify that and you see a consensus investor, which is refusing to even acknowledge that information. Well, that's the double whammy. Those are the things that we're more likely to be accurate on Than things without both components.”
Nov 25, 2019 bearish
Deep-Dive DCF Modeling Fails in Public Equities by Ignoring Market Consensus
“And what you end up with is something that's very interesting and helpful in the private equity world. Great. But that's not what we do. This is public markets. There's a price up there that is reflecting everyone else's view about this company. And how on ear…”
Nov 25, 2019 positive
Nov 25, 2019 neutral
Market Behavioral Biases Are Identical Across the US, Europe, and Asia
“The behavioral stuff's all the same. We all make the same mistakes. I have the same biases that I try to shed and my team tries to shed. Mr. Market has the same biases. They overreact to bad news and vivid recent information. They underreact to things which di…”
Nov 25, 2019
Valid Investment Factors Require a Clear Risk or Behavioral Rationale
“Factors are things that either have to have a risk story related to them, and that's why they behave a certain way, or a behavioral story. It can't be that something had a certain behavior over some period of time, and that somehow means it's sustainable and i…”