The Art of Boring™ was created for curious and passionate investors. We share strategies, frameworks, and insights to help readers and listeners make better investment decisions. Our aim? To provide some bottom-up, long-term investing signal to cut through the short-term noise.
James Redpath (JR), former Mawer fixed income portfolio manager, answers why the Alberta government issued a benchmark euro-denominated bond—four to five times the average deal size in Canada—and what it may mean for the Canadian debt market.
This episode features insights from the past quarter (1Q18) by Greg Peterson, portfolio manager of Mawer’s Balanced and Global Balanced strategies.
Features the investment insights of Justin Anderson, leader of “The Lab,” where Mawer applies new technologies to garner an investment edge and automation to streamline the investment process.
Features the investment insights of Peter Lampert, Mawer Emerging Markets and International Equity portfolio manager, from his research trip to China.
It is possible for smaller companies to punch above their weight in a foreign market. In our Canadian small cap portfolio, there have been many wealth-creating companies that were able to successfully expand and compete in the United States.
Features the investment insights of Mawer’s Deputy Chief Investment Officer, Paul Moroz, from his research trip to India.
While investor apprehension in this environment is understandable, volatility in markets is both normal and expected. Looking back through our Art of Boring archive, we were struck by the enduring relevance of not letting fear guide investor decision-making during jittery times.
There is arguably another, more robust means of competitive advantage: that of barriers to capacity expansion. And this factors into one of the two main reasons behind limiting our exposure to the utility space.
Many of the old stories surrounding China are becoming—or are—obsolete. New ones are emerging. China’s economy is very different than it used to be, and this shift, as well as some of the trends occurring there, are worthwhile to understand. We’d be wise to pay attention.
‘Twas the week before Christmas
And we’re again filled with cheer
To provide our blog readers
A review of the year:
How many toilets do you have at home? Or rather—let me put it this way: do you have a toilet in your home? For most people reading this, the idea of not having one may sound crazy, but in India, over half of all households do not have the luxuries of a toilet and/or bathing facility.
The ski season is officially open and the keeners have taken their first turns. I know our CIO, Jim Hall, is an avid skier so I sat down with him recently to discuss portfolio risk management and how it relates to skiing.
James Redpath (JR), former Mawer fixed income portfolio manager, answers why the Alberta government issued a benchmark euro-denominated bond—four to five times the average deal size in Canada—and what it may mean for the Canadian debt market.
This episode features insights from the past quarter (1Q18) by Greg Peterson, portfolio manager of Mawer’s Balanced and Global Balanced strategies.
Features the investment insights of Justin Anderson, leader of “The Lab,” where Mawer applies new technologies to garner an investment edge and automation to streamline the investment process.
Features the investment insights of Peter Lampert, Mawer Emerging Markets and International Equity portfolio manager, from his research trip to China.
It is possible for smaller companies to punch above their weight in a foreign market. In our Canadian small cap portfolio, there have been many wealth-creating companies that were able to successfully expand and compete in the United States.
Features the investment insights of Mawer’s Deputy Chief Investment Officer, Paul Moroz, from his research trip to India.
While investor apprehension in this environment is understandable, volatility in markets is both normal and expected. Looking back through our Art of Boring archive, we were struck by the enduring relevance of not letting fear guide investor decision-making during jittery times.
There is arguably another, more robust means of competitive advantage: that of barriers to capacity expansion. And this factors into one of the two main reasons behind limiting our exposure to the utility space.
Many of the old stories surrounding China are becoming—or are—obsolete. New ones are emerging. China’s economy is very different than it used to be, and this shift, as well as some of the trends occurring there, are worthwhile to understand. We’d be wise to pay attention.
‘Twas the week before Christmas
And we’re again filled with cheer
To provide our blog readers
A review of the year:
How many toilets do you have at home? Or rather—let me put it this way: do you have a toilet in your home? For most people reading this, the idea of not having one may sound crazy, but in India, over half of all households do not have the luxuries of a toilet and/or bathing facility.
The ski season is officially open and the keeners have taken their first turns. I know our CIO, Jim Hall, is an avid skier so I sat down with him recently to discuss portfolio risk management and how it relates to skiing.
In 1968, researchers from Stanford University stuck a marshmallow in front of a four year old girl and gave her a choice: eat the marshmallow now or wait 15 minutes and receive TWO marshmallows.
Two important events involving Russia occurred in the last week. First, Russia amassed a highly suspicious buildup of 20,000 troops on the Ukrainian border. Second, Russia’s yield curve inverted.
Narrow rules have a cost. Although there is value in the clarity of rule, process and position, a system must also be flexible.
Just how important is a common language to investing? While some investors view it as the sort of soft, fluffy stuff best left to liberal arts majors, empirically—and in our experience— it is an essential feature of high performing investment teams.
A few weeks ago, I was introduced to Google’s Toothbrush Test. Contrary to the images that the name inspires, this test does not involve sticking a web-enabled toothbrush into your mouth to collect data on your molars. Instead, it relates to how Google allocates capital.
This past week, one of my colleagues shared a learning at our weekly research meeting. Christian and his wife, Siggi, were on vacation when Siggi unfortunately dropped her iPhone into the bath.
Imagine you spent 4% of your life waiting in line. Given that there are 8,765 hours in a year, this would imply that you spent 350 hours each year staring at the backs of people’s heads.
The restaurant industry is tough. Virtually anyone with decent cooking skills and a modest amount of capital can open one; the barriers to entry are quite low. Restaurateurs must also face an unpredictable customer base, as well as significant competition and substitutes.
History is ripe with hucksters. Investors were reminded of this again this month when stock market darling Gowex declared bankruptcy.
In 1968, researchers from Stanford University stuck a marshmallow in front of a four year old girl and gave her a choice: eat the marshmallow now or wait 15 minutes and receive TWO marshmallows.
Two important events involving Russia occurred in the last week. First, Russia amassed a highly suspicious buildup of 20,000 troops on the Ukrainian border. Second, Russia’s yield curve inverted.
Narrow rules have a cost. Although there is value in the clarity of rule, process and position, a system must also be flexible.
Just how important is a common language to investing? While some investors view it as the sort of soft, fluffy stuff best left to liberal arts majors, empirically—and in our experience— it is an essential feature of high performing investment teams.
A few weeks ago, I was introduced to Google’s Toothbrush Test. Contrary to the images that the name inspires, this test does not involve sticking a web-enabled toothbrush into your mouth to collect data on your molars. Instead, it relates to how Google allocates capital.
This past week, one of my colleagues shared a learning at our weekly research meeting. Christian and his wife, Siggi, were on vacation when Siggi unfortunately dropped her iPhone into the bath.
Imagine you spent 4% of your life waiting in line. Given that there are 8,765 hours in a year, this would imply that you spent 350 hours each year staring at the backs of people’s heads.
The restaurant industry is tough. Virtually anyone with decent cooking skills and a modest amount of capital can open one; the barriers to entry are quite low. Restaurateurs must also face an unpredictable customer base, as well as significant competition and substitutes.
History is ripe with hucksters. Investors were reminded of this again this month when stock market darling Gowex declared bankruptcy.
A review of the quarter: the ongoing impacts of COVID-19 on economic activity, continuing fiscal and monetary stimulus, and the run-up to the U.S. election.
Crista Caughlin, lead portfolio manager of Mawer’s fixed income strategies, discusses potential impacts of increasing global debt in a low interest rate environment and the three economic scenarios top of mind for the bond team.
CIO Paul Moroz discusses resilience, global monetary policy, and current themes such as TikTok and a potential “technological iron curtain.”
Building resiliency while finding opportunities in emerging markets.
A deep dive into the themes, fundamentals, and opportunity sets in the payments industry.
The impacts, risks, and potential opportunities from the COVID-19 crisis fallout on the Canadian small cap universe, and why valuations are ultimately a “blunt tool.”
A review of the quarter: a significant rebound in markets, the potential impacts of continuous monetary and fiscal stimulus, and deglobalization.
Why the current market environment “feels like 2030 is happening in 2020,” our perspective on the recent market recovery, and more.
The implications of cloud migration for enterprises, investors, and business models.
Why the strategy was created, how it was launched, and some holding examples.
Deputy CIO Christian Deckart discusses natural contradictions in the portfolio and how the team plays “intellectual best ball.”
Exploring the why behind the FAANG’s outsized stock returns and the overall challenges of valuating tech companies.
A review of the quarter: the ongoing impacts of COVID-19 on economic activity, continuing fiscal and monetary stimulus, and the run-up to the U.S. election.
Crista Caughlin, lead portfolio manager of Mawer’s fixed income strategies, discusses potential impacts of increasing global debt in a low interest rate environment and the three economic scenarios top of mind for the bond team.
CIO Paul Moroz discusses resilience, global monetary policy, and current themes such as TikTok and a potential “technological iron curtain.”
Building resiliency while finding opportunities in emerging markets.
A deep dive into the themes, fundamentals, and opportunity sets in the payments industry.
The impacts, risks, and potential opportunities from the COVID-19 crisis fallout on the Canadian small cap universe, and why valuations are ultimately a “blunt tool.”
A review of the quarter: a significant rebound in markets, the potential impacts of continuous monetary and fiscal stimulus, and deglobalization.
Why the current market environment “feels like 2030 is happening in 2020,” our perspective on the recent market recovery, and more.
The implications of cloud migration for enterprises, investors, and business models.
Why the strategy was created, how it was launched, and some holding examples.
Deputy CIO Christian Deckart discusses natural contradictions in the portfolio and how the team plays “intellectual best ball.”
Exploring the why behind the FAANG’s outsized stock returns and the overall challenges of valuating tech companies.
