An Interview With Broad Run Investment Management
A Motley Fool analyst interviews Broad Run’s profile managers about quality growth investing, valuation, and more. Broad Run Investment Management, located in Arlington, Virginia, was founded in 2012 by Brian Macauley, David Rainey, and Ira Rothberg. The co-workers have a brief history of collaboration: They have worked collectively since 2004, applying the same investment strategy Broad Run uses today. 2.5 billion in possessions under management in a sub-advised mutual fund and individually maintained accounts (SMAs). The three portfolio managers’ background goes back to Sept.
1, 2009, when they assumed responsibility of the shared fund. Broad Run manages a concentrated investment strategy with about 20 to 30 stocks and 60% to 80% of assets in the top 10 positions. According to the firm’s website, Broad Run aims to purchase high-quality, growth-oriented businesses at discount valuations. The firm averages about 14% portfolio turnover, implying an average holding amount of about 7 years. From its inception on Sept. 1, through June 30 2009, 2016, Broad Run’s Focus Equity Strategy has generated a gross annualized come back of 16.2%, and a world wide web (after fees) annualized return of 15.1%, set alongside the Russell 3000’s 13.5% come back. Broad Run’s outperformance is driven by its capability to pick winning stocks: They have captured 96% of the market’s upside, but only about 85% of its drawback.
1. Trade surprise is a direct result of the events that wrecked the financial system because finance and trade are so deeply interdependent that it’s impossible to consider one with no other. 1. International production writing or the internationalization of processing supply chains is a significant area of the entire story. When demand for something shrinks, the multiple trade flows are terminated; not just the final trade movement.
- Tax preparation expenses
- Market Prices
- R = annual interest, as a decimal rather than percent (also known as APR)
- How to write an investment banking resume that will land you more interviews
Transformation Planning: The main element for a CIO is the candidate’s capability to view technology as both a small business and something. If the candidate is able to identify the Strengths, Weaknesses, Opportunities, and Threats about the technology function the applicant will be well prepared to leverage technology as a value added services to the entire business.
For example, a common weakness to a technology function is that it’s often view as an expense. This weakness can be strengthened by linking the value the line of business receives from integrated technology to offset the investment manufactured in technology. This transforms technology from being a cost center to becoming a profit center as the gains reaped from the business enterprise are aligned with the technology corporation.
This type of thinking displays a candidate has both the technology and business skill needed to create a strong technology offering. This relevant question will lead to conversations around pursuing topics. As this touches on a lot of different paradigm shifts that must happen for this to sit at the same table as the business enterprise. Q7: How do you intend to set your priorities? Well align with business strategy and helping the needs of the business enterprise.