Jack Somers, co-founder of Income Research + Management (IR+M), shares his biggest investment pet peeves during a closing Q&A.
0:00 / 0:14exact quote · 14.4s
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“I hate to bring politics into this, but the political conversation has become so polarized and hyped up, and sometimes I feel like our pundits are falling into that same trap where they just display this incredible arrogance.”
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More from Jack Somers
Disclosure
Sommers: Strict Focus on High-Quality US Debt is IR+M's Differentiator
“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.”
Jack SomersOct 20, 2022▶ 11:06Jack Sommers – Core Fixed Income at IR+M (Manager Meetings, EP.39)
Opinion
Sommers: The 2008 Financial Crisis Was IR+M's Greatest Business Opportunity
“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…”
Jack SomersOct 20, 2022▶ 12:09Jack Sommers – Core Fixed Income at IR+M (Manager Meetings, EP.39)
Disclosure
Sommers: IR+M Paid 'Lip Service' to DEI Until George Floyd's Murder
“I think about DE and I, we talked about it. It was pretty close to lip service, and it really took the George Floyd incident for us to make a much more significant commitment to getting after it. And it's going to be a long game, and it's hard, but it's good. …”
Jack SomersOct 20, 2022▶ 14:57Jack Sommers – Core Fixed Income at IR+M (Manager Meetings, EP.39)
Insight
Sommers: Fire Cultural Misfits, but Coach Employees With Technical Gaps
“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…”
Jack SomersOct 20, 2022▶ 21:45Jack Sommers – Core Fixed Income at IR+M (Manager Meetings, EP.39)
Insight
Sommers: Why IR+M Rejects the 'Family Business' Label for Corporate Culture
“We try not to call our business a family business because you can't fire a family member and a family member can't really quit.”
Jack SomersOct 20, 2022▶ 24:29Jack Sommers – Core Fixed Income at IR+M (Manager Meetings, EP.39)
Disclosure
Sommers: IR+M Avoided High-Risk Credit Ahead of the 2008 Crisis
“And then from a investing perspective, if you think back to 2006 and 2007 and what was going on, we basically said no to the quote, picking up pennies in front of the bulldozer. That, in hindsight, was obviously a very good decision. That was huge.”
Jack SomersOct 20, 2022▶ 13:55Jack Sommers – Core Fixed Income at IR+M (Manager Meetings, EP.39)
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