The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 12 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Third-party ESG ratings will not converge like credit ratings
“And I think that that will remain over time. People sometimes wonder if they'll converge like the credit rating agencies have converged, but I don't think that's the case because they're fundamentally often measuring different things or placing emphasis on thi…”
Physical climate risk is locked in for the next 10 to 15 years
“No matter Which of those two paths that we're on or any of the paths in between the physical manifestations of climate risk over the next 10 to 15 years will be the same.”
Average software valuations retraced to six times sales by mid-2023
“What you saw since November of 21 to now is you've now retraced that entire move, and now the average software company is selling for six times sales, which is at the lower end of the range, and so now you're at a point that you can, again, underwrite to much …”
Daniel: Major asset managers had zero energy stocks in top 50 holdings
“We took all the large asset management complexes. I think Wellington. Wellington, Fidelity, Neuberger, you name, Capri, you name them, and say, okay, let's figure out where their largest energy exposure is and what number it is in their portfolio. They're taki…”
Hynes: Vanguard's philosophy is low cost across active and passive, not just indexing
“If you listen to Vanguard and what their philosophy is, they're not a passive company. Their philosophy is to be a low cost, both on the active side and the passive side, and there's a place for both passive and a place for active.”
Sullivan: Julian Robertson provided seed capital for Wellington's first hedge fund
“Julian was part of the original capital that helped seed it.”
Hynes: Wellington manages around 250 products across 60 investment teams
“We have more products than the average asset manager. We have about 250 products and with 60 teams.”
Hynes: Wellington is the largest sub-advisor in the world
“We're the largest sub-advisor in the world, and so I would say if you think about what are strategic partnerships, those are strategic partnerships on manufacturing and distribution.”
Samuels: Wellington provides in-house executive coaching for senior leaders
“Wellington has a wonderful program where they are basically providing in-house executive coaching and a leadership program for managing directors and even some partners to learn about these skills, and other organizations support a coach.”
Hynes: Wellington is structured as a federation of 55 distinct investment boutiques
“And the unique thing about Wellington is that it's a federation of boutiques. So We have about 55 different boutiques across equities, fixed income, multi-asset, research platforms, quant, alt-risk premia, so those are our platforms, and it's part of the globa…”