Created by the Value Team at Schroders, the Value Perspective podcast takes a look at decision making in complex and uncertain environments.
Episodes
Thursday Oct 28, 2021
The Value Perspective: ESG Mini Series with Erik Kobayashi-Solomon
Thursday Oct 28, 2021
Thursday Oct 28, 2021
In honour of COP26 this month, welcome to our mini series where we're exploring ESG or environmental, social, and governance factors within the industry. In this series, which we're releasing every Thursday during the conference, we're interviewing old and new guests on their approach to ESG within the industry. We've sought to speak to a wide range of guests with a variety of perspectives on this well-known topic.
To begin, we're thrilled to have Erik Kobayashi-Solomon back on the pod. Erik penned an article called Science doesn't care what trading desks are saying which caught our eye. From there, we discussed how trading desks motivations could be aligned with climate change issues, how investors can put a sustainability lens on industries outside of oil and gas, and what changes to an investor's framework can be made when thinking about the future.
Minutes:
00:33 Series intro
01:12 Guest intro
01:55 Episode term glossary
03:12 Episode intro
06:34 Will trading desks ever care about climate change?
11:31 Bill Gate's 75% Problem
15:23 The weight of a phone
19:31 What role should oil and gas play in climate change?
22:42 Is nuclear's role unfairly diminished?
29:00 If you could persuade every investor who listens to this podcast to add one extra step into their investment process, what would it be?
NEW EPISODES:
We release main series episodes every two weeks on Mondays and ESG mini-series every Thursday. You can subscribe via Podbean or use this feed URL (https://tvpschroders.podbean.com/feed.xml) in Apple Podcasts, Spotify and other podcast players.
GET IN TOUCH:
send us a tweet: @TheValueTeam
Important information. This podcast is for investment professionals only.
This information is not an offer, solicitation or recommendation to buy or sell any financial instrument or to adopt any investment strategy.
Any data has been sourced by us and is provided without any warranties of any kind. It should be independently verified before further publication or use. Third party data is owned or licenced by the data provider and may not be reproduced, extracted or used for any other purpose without the data provider’s consent. Neither we, nor the data provider, will have any liability in connection with the third party data.
Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions. Any references to securities, sectors, regions and/or countries are for illustrative purposes only. The views and opinions contained herein are those of individual to whom they are attributed, and may not necessarily represent views expressed or reflected in other communications, strategies or funds.
The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested. Exchange rate changes may cause the value of any overseas investments to rise or fall.
Past Performance is not a guide to future performance and may not be repeated.
The forecasts included should not be relied upon, are not guaranteed and are provided only as at the date of issue. Our forecasts are based on our own assumptions which may change.
Monday Oct 25, 2021
The Value Perspective with Joe Wiggins
Monday Oct 25, 2021
Monday Oct 25, 2021
Joe Wiggins is the excellent author of the Behavioural Investment blog and the newest guest on the TVP Pod. He's interviewed by Andy Evans and Liam Nunn who discuss how Joe's background in sociology and behavioural science has helped him advise investment managers. He stresses how behavioural issues are important to investment outcomes and being conscious of those behaviours and biases can help all investors - from retail to professional.
Minutes:
1:08 Episode Intro
1:50 Joe's background
3:47 What are the most common behavioural issues?
5:57 Are there any biases that are unique to investing?
7:22 Outcome Bias and thinking in probabilities
10:14 The prevalence of overconfidence - what can fix it?
12:33 Process v. outcome - how can investors learn more from mistakes?
15:19 The consideration of time - why do we struggle with time horizons?
20:17 Do professional investors feel the need to be constantly active?
23:42 Has the approach to behaviour bias in finance evolved at all in recent times?
26:28 How can we improve decision making?
28:13 Examining decision making in other industries
32:49 A bad outcome that came from bad process and book recommendations
Book recommendations:
The dog and the frisbee by Andrew Haldane
Gut Feelings by Gerd Gigerenzer
NEW EPISODES:
We release a new episodes every three weeks on Mondays. You can subscribe via Podbean or use this feed URL (https://tvpschroders.podbean.com/feed.xml) in Apple Podcasts, Spotify and other podcast players.
GET IN TOUCH:
send us a tweet: @TheValueTeam
Important information. This podcast is for investment professionals only.
This information is not an offer, solicitation or recommendation to buy or sell any financial instrument or to adopt any investment strategy.
Any data has been sourced by us and is provided without any warranties of any kind. It should be independently verified before further publication or use. Third party data is owned or licenced by the data provider and may not be reproduced, extracted or used for any other purpose without the data provider’s consent. Neither we, nor the data provider, will have any liability in connection with the third party data.
Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions. Any references to securities, sectors, regions and/or countries are for illustrative purposes only. The views and opinions contained herein are those of individual to whom they are attributed, and may not necessarily represent views expressed or reflected in other communications, strategies or funds.
The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested. Exchange rate changes may cause the value of any overseas investments to rise or fall.
Past Performance is not a guide to future performance and may not be repeated.
The forecasts included should not be relied upon, are not guaranteed and are provided only as at the date of issue. Our forecasts are based on our own assumptions which may change.
Monday Oct 11, 2021
The Value Perspective with Ajmal Ahmady
Monday Oct 11, 2021
Monday Oct 11, 2021
Ajmal Ahmady is the former Governor of the Central Bank of Afghanistan, Da Afghanistan Bank, and the latest guest on the Value Perspective. Juan and Emily had the opportunity to talk with Ajmal about the work he accomplished during his tenure including inflation stabilisation and digitised money wallet. They also discussed decision making as a central bank during times of crisis and conflict, including how the DAB made decisions as the Taliban encroached towards the capital.
MINUTES:
1:05 Episode Intro
1:43 Ajmal's background
4:04 Providing stability through central bank tools
8:03 How did the central bank affect areas with different levels of development?
10:30 How do you build trust in formalised finance?
13:40 How did military conflict affect your decision making process?
16:38 Increased financial inclusion
20:39 The role of opium within the Afghan economy
25:21 How did the bank help in anti-Taliban efforts?
27:29 What lead to you make the decision to leave the country?
31:07 As the events were unfolding, how did you process information when making decisions?
34:07 Is there a 'checklist' for a Governor of a bank when they're under threat?
36:40 What does the future of the DAB look like?
39:39 Book recommendation an outcome that was a result of a bad process
Book recommendations:
The Silk Roads: A New History of the World by Peter Frankopan
For further information, please see the following links. Please note that Schroders is not responsible for content on external sites:
- Highlights of an FT subscriber webinar with Ajmal Ahmady on Afghanistan, 2021-08-26
- ^Foreign Affairs (2022-03-30). “Ajmal Ahmady: Why Afghanistan Fell"
- ^Financial Times (2021-08-24). “Ajmal Ahmady: Afghanistan faces an economic crisis, as well as a humanitarian one" (actual link: https://www.ft.com/stream/75ed5ed6-883f-402c-b04b-4d1ddd5ab670)
- ^“Ajmal Ahmady: The Taliban Can't Print Cash and Other Afghan Business Challenges". com. 2021-09-07
- ^Matt Egan. "Former Afghan central banker Ajmal Ahmady describes 'complete chaos' of fleeing the country, with one shoe and no bags". CNN
- ^"Afghanistan's central bank governor Ajmal Ahmady tells of his escape as the Taliban closed in on Kabul". Sky News
- ^"US left too quickly, says Afghanistan bank governor Ajmal Ahmady". BBC News. 2021-08-17
- ^"GZERO Media with Ajmal Ahmady". GZERO Media
- ^"Odd Lots: A Conversation With Ajmal Ahmady, Afghanistan's Former Central Bank Chief on Apple Podcasts". Apple Podcasts
- ^"A Conversation With Ajmal Ahmady, Afghanistan's Former Central Bank Chief". com. 2021-08-23
- ^Mercatus Macro Musings: Ajmal Ahmady on the Afghan Economy and the Challenges Facing the Nation’s Future. 2021-11-15
- ^“Ajmal Ahmady: Afghanistan's economy is in trouble after the Taliban took control". wbur.org
- ^"Afghanistan's Money Problem : Planet Money with Ajmal Ahmady". org
- ^Nelson, Eshe; Rappeport, Alan (2021-08-18). "U.S. and I.M.F. Apply a Financial Squeeze on the Taliban, with comments by Ajmal Ahmady". The New York Times
- ^Wechsler, Josh Lipsky and William F. (2021-08-18). "Opinion | Will the IMF Bankroll the Taliban, with comments by Ajmal Ahmady?". Wall Street Journal
- ^Afghan Central Bank Chief Ajmal Ahmady Warns of Economic CrisisBloomberg
- ^Filseth, Trevor (2021-09-15). "Afghanistan Headed for Financial Collapse, Former Bank Chief Ajmal Ahmady Warns". The National Interest
- ^Franck, Thomas (2021-08-18). "U.S. won't let Taliban access Afghanistan's financial assets held in America, with comments by Ajmal Ahmady". CNBC
- ^Marino, Kate (2021-09-13). "Afghanistan's cash problem is intensifying a humanitarian crisis, with comments by Ajmal Ahmady". Axios. Retrieved 2022-04-19.
NEW EPISODES:
We release a new episodes every three weeks on Mondays. You can subscribe via Podbean or use this feed URL (https://tvpschroders.podbean.com/feed.xml) in Apple Podcasts, Spotify and other podcast players.
GET IN TOUCH:
send us a tweet: @TheValueTeam
Important information. This podcast is for investment professionals only.
This information is not an offer, solicitation or recommendation to buy or sell any financial instrument or to adopt any investment strategy.
Any data has been sourced by us and is provided without any warranties of any kind. It should be independently verified before further publication or use. Third party data is owned or licenced by the data provider and may not be reproduced, extracted or used for any other purpose without the data provider’s consent. Neither we, nor the data provider, will have any liability in connection with the third party data.
Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions. Any references to securities, sectors, regions and/or countries are for illustrative purposes only. The views and opinions contained herein are those of individual to whom they are attributed, and may not necessarily represent views expressed or reflected in other communications, strategies or funds.
The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested. Exchange rate changes may cause the value of any overseas investments to rise or fall.
Past Performance is not a guide to future performance and may not be repeated.
The forecasts included should not be relied upon, are not guaranteed and are provided only as at the date of issue. Our forecasts are based on our own assumptions which may change.