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This is Masters in Business with Barry Ritholtz on Bloomberg Radio.
BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, I have an extra special guest. His name is Tom Slater, he’s the head of the U.S. equities team at U.K. firm Baillie Gifford headquartered in Edinburgh. The firm’s been around since 1908. They manage, pick a number, almost $300 billion in assets.
They’ve had explosive growth and they are not your typical growth manager. They run concentrated portfolios. He referred to one of the funds they run as growth at an unreasonable price. But it’s worked out really well, that fund is up 112 percent, almost 100 percent more than the S&P 500.
Charles Plowden regrets Zoom miss as Baillie Gifford colleagues rake in millions
Zoom’s share price has increased over fivefold thanks to the Covid crisis
Charles Plowden regrets not following in the footsteps of Baillie Gifford colleague James Anderson and purchasing Zoom as the video conferencing company’s shares more than quintuple during the coronavirus pandemic.
During an end of year roundtable hosted by the Association of Investment Companies, the Monks Investment Trust manager confessed that not buying Zoom “is one of my biggest regrets of the year”.
Plowden (pictured) said his investment team had discussed initiating a holding in the Silicon Valley software company last December but decided against it because they believed Microsoft “would inevitably outcompete them in time”.