[ BAILLIE GIFFORD ]
in creating better outcomes for
clients, especially when combined
with good analysis from traditional
sources.
“There’s a danger here that we’re
overly dismissive of others. We’ve
spoken about what we at Baillie
Gifford mean by investment, and it’s
not share prices. We’re not some sort
of geniuses, the only ones to have
worked this out. There are some
good researchers at investment
banks. You just need to know who
they are,” he states.
“We tend to be interested in those
who write longer-term perspectives.
We’re really not interested in
somebody’s spreadsheet about a
company’s earnings next quarter.
But there are smart people out there.
“It’s important to be humble,
actually. You always have to
remember, you might have been lucky
rather than smart. Probably we’re not,
but let’s not get carried away with
ourselves. One of the big reasons, I
think, we’ve been successful, is our
willingness to learn from people who
are smarter than we are.”
By focusing on what actually
matters about companies, Dunbar
suggests, the investor can unlearn
the unhelpful habits and practices
accrued by the industry over the
years. These, he believes, have
stopped colleagues from seeing
what the job was all about, let alone
from fulfilling it to the full benefit of
clients.
Words by Colin Renton
To hear more from the investment frontline, listen to our podcast Short
Briefings on Long Term Thinking, available on our website at
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This article does not constitute, and is not subject to the protections afforded
to, independent research. Baillie Gifford and its staff may have dealt in the
investments concerned. The views expressed are not statements of fact and
should not be considered as advice or a recommendation to buy, sell or hold a
particular investment.
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by the Financial Conduct Authority (FCA). The investments trusts managed by
Baillie Gifford & Co Limited are listed UK companies and are not authorised and
regulated by the Financial Conduct Authority.
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