So with that in mind today, I have Dave Falco, one of the investment analysts based out of London. It's not a lot of time. But I love the willingness here, and I think we've heard it from all different guests where MFS is very willing to take the time to think deeply about things, whether it's embracing the complexity around regulation or reporting. But those are the core values that you're always going to come back, and it's values that are driven by generating responsible, alpha, sustainable performance for our clients. So given that ESG is this nascent field and often best practice hasn't emerged, it can be tempting to apply a model from maybe another asset class or maybe even another manager. It's not been that many episodes, and we've definitely got really good feedback. So I think that's that idea of how do you facilitate and nurture a team that has high cognitive diversity but low values diversity, i. Stream i find mfs like u really interesting bro by groovy bot | Listen online for free on. e., is ultimately after the same goal, but can solve problems differently and can work together and be a better unit for it is incredibly important, as well as the super team work that you mentioned from the Thinking Head Institute and the importance of culture to facilitate all of those things. It's just like a personal vibe u feel me. Yeah, super interesting.
You'll also get to join an intimate yearly taco crawl with our award-winning team. That is actually the beauty of portfolio construction is to require a minimum level of threshold to be able to make those decisions that you have to make on a more agile fashion, but understand that you have to have the nuanced approach and the flexibility. Nicole Zatlyn: You know, my first job was in government. It would be really cool, I think, to hear from them on how they're seeing the application differ to really tease out some of that complexity. Vish Hindocha: Mm-hmm (affirmative). So frankly, I don't really have much time outside of those. But thank you so, so much for all your time, Nicole. But these are absolutely topics of conversation and come back to this, again, when we're trying to look at whether or not we're going to have a sustainable business over that long run. Additionally, we'd like to see return on capital, actually increase at companies during inflationary periods or certainly during persistent periods of inflation. I find mfs like you really interesting blog. How do you think about that sort of aspect of the companies that you're... David Falco: In periods of persistent inflation, it's often overlooked, but really a company needs to inflate cash flows and not just the income statement profit, because future CapEx is likely going to cost a lot more to maintain the existing asset base. They invested for decades into marketing and product development to create that strong desirability. We're looking for that Plan that does align with the Paris Accord.
And that kind of spend creates tremendous opportunities. I find mfs like you really interesting and funny. I did a degree in law and another degree in economics to figure out which one of those two paths I wanted to follow. And sometimes actually, management or issuer teams, because sometimes the discussions are with sovereigns. We don't outsource that to a third party, like we wouldn't outsource an analysis of a balance sheet or a macro political element of a sovereign. I had a book about physics that I finished recently, about the laws of gravity and how that affects space and continuum.
And we can talk about some of the other things that we can get at, but there aren't great hard numbers on a lot of the people metrics. What would you add from the episodes that we've had so far? I worked in the House of Commons in Canada, I really think this is my path. " Again, it's about societal change over time. So we need to think about, "Well, for this job, what is the right tool? You're right, we haven't spent much time on it today. I think if we are saying that one of the things, or at least two of the things that we learned so far is embrace different mental models as well as complexity and not be too dogmatic about our own views, I think definitely bringing on people, even those that will be contrarian and challenge those views will be really interesting to do to tease out what we know is emerging best practice. I was going to say, I think we have parallel trajectories there. I mean, I've often thought about this and ended up chasing Mytel. Nicole Zatlyn: If I can take that in two parts. Okay, one more thing. And I love too the idea that you're thinking about, you know, previously, you're talking about the economic machine, and you know, your professors sort of saying, "Well, you know, law might be a terrific path, but actually understand how the economic engine works. " Yeah, so there's nothing like just giving you a whole column of gross margins over time. And I think for fields of knowledge work, it's incredibly important.
keepcovidfree.net, 2024