Carol Geremia

President and Head of Global Distribution, MFS · 1 appearance on the record.

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Having joined MFS Investment Management in 1984, she oversees the firm's worldwide client-facing teams, product strategies, and global operations. She is known in the institutional investment community as an advocate for long-term fiduciary stewardship and active asset management.

11statements → 4claims → 3claims resolved → 67%fully supported → 3.82/5average certainty → 2.45/5average debate potential → ≈4.5/5argument clarity, estimated →

2 supported 0 partly supported 1 contradicted 1 not checkable as stated how the 4 claims stand · each chip opens the sources

1 prediction · 3 assertions · 2 opinions · 1 insight · 4 disclosures · every statement was checked. The prediction and assertions are the 4 claims: statements the public record can support or contradict. 3 are resolved, and 1 names no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Carol argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported

Geremia: MFS stock holding duration is 3-4x the industry average

“When you even look at the average holding of a stock inside our portfolios, it's three to four times the industry average.”

Carol Geremia Dec 15, 2022 ▶ 19:15 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

Their most notable contradicted claim

Prediction Didn’t hold up

Geremia: ESG will cease to be an investment term within three years

“The most exciting to me is that ESG will go away. It will not be an investment term in three years, and it has nothing to do with it not being super important.”

Carol Geremia Dec 15, 2022 ▶ 36:42 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Carol Geremia on measured tape to publish a rate. This says nothing about how they speak.

What they said11 Episodes1

Everything Carol Geremia said on Capital Allocators that made the record, most notable first. Filter by type, assessment or year in the ledger →

Prediction Didn’t hold up

Geremia: ESG will cease to be an investment term within three years

“The most exciting to me is that ESG will go away. It will not be an investment term in three years, and it has nothing to do with it not being super important.”

Carol Geremia Dec 15, 2022 ▶ 36:42 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

Disclosure

Geremia: MFS aims for full-cycle outperformance rather than 1-to-5-year alpha

“We do not believe that we exist to generate alpha over short measurement periods like one, three, and five. Our goal is to outperform over a full market cycle”

Carol Geremia Dec 15, 2022 ▶ 17:13 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

Opinion

Geremia: Obsessive Growth at Any Cost and Passive Capital Have Hit Limits

“I think what we're seeing today is that obsessive growth at any cost is over. I think we're seeing the limitations of passive capital. I think we're seeing the limitations of short-term alpha. I think we're going to start to desperately realize how important l…”

Carol Geremia Dec 15, 2022 ▶ 29:33 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

Disclosure

Geremia: MFS Avoids Active ETFs Because They Cannot Be Closed for Capacity

“We have looked a lot at active ETFs as an example, but here's the problem with ETFs. You can't close the products. How do you manage capacity, and how do you protect performance as an active manager? That is the sole reason we have not offered an active ETF.”

Carol Geremia Dec 15, 2022 ▶ 34:39 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

Opinion

Geremia: Skeptical that investment personalization actually serves client needs

“I think there's a lot of talk about personalization, and I'm a little skeptical on that, because again, I'm not sure that's actually, it sounds good, and it sounds like it's about the customer. I'm not sure that's actually What the customer needs. I think it's…”

Carol Geremia Dec 15, 2022 ▶ 48:33 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

Insight

Geremia: Full market cycles take 7-10 years, but benchmarks measure half

“The measurements that the industry anchors around are usually half a full market cycle. Anywhere between seven and 10 years is a full market cycle.”

Carol Geremia Dec 15, 2022 ▶ 18:31 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

Assertion Supported

Geremia: MFS stock holding duration is 3-4x the industry average

“When you even look at the average holding of a stock inside our portfolios, it's three to four times the industry average.”

Carol Geremia Dec 15, 2022 ▶ 19:15 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

Assertion Not checkable as stated

Geremia: Combining credit and equity analysts protected MFS in 2008

“It was the greatest differentiator for us in the global financial crisis. We could see our fixed income team knew and understood and started to understand the issues, especially in the financial sector, and really said, there's a lot of stuff here we can't val…”

Carol Geremia Dec 15, 2022 ▶ 22:29 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

Disclosure

Geremia: MFS ties at least one-third of compensation to teamwork

“So we changed compensation decades ago, first and foremost, to say that we are a team and that's the way we're going to incent people to operate. So you're not just going to get paid on your results. That's going to be a huge factor for sure, but there's going…”

Carol Geremia Dec 15, 2022 ▶ 24:06 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

Assertion Supported

Geremia: Investors take 5x more risk today for same 1990s returns

“Today, although that's starting to change as interest rates are rising, for the past 30 years, investors have been taking five times the amount of risk to get the same amount of return that they did 30 years ago.”

Carol Geremia Dec 15, 2022 ▶ 27:08 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

Disclosure

Geremia: MFS closed high-inflow product to protect existing shareholder returns

“About almost 20 years ago, and I was taking over the institutional business, and so I had a lot to learn. And you're dealing with large institutions all over the world, but we made the decision to close a product that was receiving lots of flow. And I, at the …”

Carol Geremia Dec 15, 2022 ▶ 5:05 Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators, EP. 287)

Appearances (1)

Episode	Date	Speaking time
Carol Geremia - Creating Long-Term Value for (almost) 100 Years at MFS (Capital Allocators	Dec 15, 2022	40m

Carol Geremia

The record, in short

Their most notable supported claim

Their most notable contradicted claim

How they sound: not measured why? →

Appearances (1)

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