Sanjay Ayer, Portfolio Manager and Co-Head of Research at WCM Investment Management, explains research process improvements to Ted Seides.
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“So one significant process tweak we made is replacing our, what was a generic risk section in our write-ups with now what we call a premortem section.”
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More from Sanjay Ayer
Insight
Ayer: Long-Termism Is Sometimes a Lazy Crutch for Asset Managers
“Oftentimes playing the long game is the right strategy, the market's myopic, stick to your knitting, but there are occasions where long-termism is a lazy crutch.”
Sanjay AyerOct 27, 2025▶ 6:35Mike Trigg and Sanjay Ayer – The Discipline of Getting Better at WCM (EP.467)
Insight
Ayer: Wall Street Sector Specialists Fall Into Echo Chambers Blinding Them
“In this market, it's been fun because we are viscerally exploiting or have been the specialist trap, where if you're an industry Wall Street specialist, you've looked at the same industry for 15 years, you're in an echo chamber talking about Peer analysts, man…”
Sanjay AyerOct 27, 2025▶ 34:13Mike Trigg and Sanjay Ayer – The Discipline of Getting Better at WCM (EP.467)
Insight
Learning the right lesson at the wrong time compounds investment underperformance
“Actually the worst possible outcome, in my view, is learning the right lesson at the wrong time. At least in the medium term, you'll end up compounding the mistake you just made and drag out a hundred performance for many years.”
Sanjay AyerFeb 5, 2024▶ 51:52Sanjay Ayer – Think Different and Get Better at WCM (EP.366)
AssertionSupported
Ayer: Discount Retailer Action Cracked Germany Where Global Peers Failed
“Even the areas like Germany, where no global retailer has had success, they've been able to crack that market.”
Sanjay AyerOct 27, 2025▶ 27:20Mike Trigg and Sanjay Ayer – The Discipline of Getting Better at WCM (EP.467)
Opinion
Ayer: Financial Analysts Covering 3i Group Do Not Understand Retail
“Three Eye Group is a financial company covered by financial analysts who don't really understand retail for the most part.”
Sanjay AyerOct 27, 2025▶ 27:47Mike Trigg and Sanjay Ayer – The Discipline of Getting Better at WCM (EP.467)
Insight
Ayer: Industry Incentives Push Asset Managers to Hug Benchmarks and Coast
“Every incentive today is to Enter preservation mode, become benchmark hog, coast on the brand, and now it's really about staying true to who we are, and being different, and getting better, and serving others.”
Sanjay AyerOct 27, 2025▶ 58:02Mike Trigg and Sanjay Ayer – The Discipline of Getting Better at WCM (EP.467)
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