Investing, particularly in the public markets, is about trying to get to the right answer with a very incomplete and imperfect set of information. Having different viewpoints, informed by different experience, is extremely important to finding that answer.
Finding pockets of value always appealed to me
I dabbled as a kid, but my interest in investing really took off during college. I went to Columbia, and they have a big value investing program, which I found my way into as an undergraduate. What really clicked for me was the idea that you could buy things that were worth a lot more than what you paid for them. Public markets appealed to me because of the opportunity they present to partner with the best companies and management teams in the world, and to invest in the most undervalued situations you can find – all instantaneously and with virtually no friction. I knew right away that this was something I wanted to do.
We play to our combined strengths
As much as possible, we try to find areas where Advent’s experience and activities – or our own – overlap with the companies we look at, so we can form a differentiated view. It may be about the sector, the company itself, its management team, its customer base, or some other situation-specific angle. We make good use of our philosophy of sharing knowledge and having no information walls between Advent Global Opportunities and the wider Advent organization. We have an incredible set of digital tools to monitor what everyone’s doing, and we keep them updated. If someone inside Advent has relevant knowledge on a potential investment or sector we are researching, we typically will work closely with them to get the benefit of their expertise.
Diverse thinking is critical to our success
Investing, particularly in the public markets, is about trying to get to the right answer with incomplete information. Having different viewpoints, informed by different experience, is extremely important to finding that answer. There’s always a balance to be struck. You have people who have done a lot of work and research to develop an opinion, and other people who perhaps haven’t, but have pieces of knowledge or information that are relevant – or have high-level judgment and experience that creates valuable perspective. Different opinions, even if they turn out to be wrong, will challenge you and force you to think harder, and that maximizes the probability that you get to the right place.