Income Research and Management

“If they're a cultural misfit, I think that's clear that they need to go. If it's technical capabilities that we can teach or coach people out of, or maybe a small behavioral thing we can help coach somebody up on, and that person is committed to it, we will gi…”

“We talk about our focus as a huge differentiator. We basically are a US dollar, fixed income, pretty high quality firm. And that's what we've been all along. So we haven't stretched it and don't want to risk what we've built.”

“It's just a sign of not delegating enough, not trusting other people enough, and we have done a lot of delegating, but it's been too late and not enough, and certainly in my early years, that held us back for a long time.”

“Shockingly, the great financial crisis was like the greatest business opportunity for us ever. After that, our assets grew the fastest they ever had over any ten-year period, and we got up to about seventy billion dollars in 17 and 170 colleagues, and since th…”

“So we started the firm to basically be a bottom-up bond picker to help clients beat their fixed income benchmarks, and that hasn't changed. Part of what makes that work is not making big macro bets, and that really hasn't changed.”

“There are times when you just have to say no to some business because you want to make sure you have the resources that you need to find attractive bonds and getting them in the right portfolios in the right way.”