[ 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
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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 . Baillie Gifford & Co and Baillie Gifford & Co Limited is authorised and regulated 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 . trustnet . com