Hale: Rebuilding cost structures from zero base beats relying on 10-Ks
Rob Hale · Mason Morfit and Rob Hale – Quiet Activism at ValueAct (EP.462) · Sep 29, 2025 · at 36:30
Rob Hale is co-CEO of activist fund ValueAct Capital, discussing the firm's pre-investment forensic research process with Ted Seides.
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“That analysis of let's just ignore what you see in the 10 K. Let's just build up zero base. What does this business cost structure look like? That is by far, I think the most important exercise that we do early in our due diligence process.”
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