Nic Humphries
speaker
529 appearances
6 recordings
1 series
first heard Jul 2021
last heard Sep 2024
Nic Humphries’s voice in public audio — every appearance, attributed to the second.
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Appearances
So I mean what do you think about the long term trades?
To me this looks back a little bit into the question about valuations and those kind of things as well, which is you've got short term fluctuations and we obviously have to take those into account.
But the bottom line is if you look across the entire portfolio, you look at the sectors in which we operate, the end sectors grow at about three times Gdp.
Seven, eight, nine percent, you know, pick your individual sector, but it's approximately that versus two three percent.
Yeah.
And the companies we back on average grow organically top line at about twelve, thirteen, fourteen percent.
So this is fundamentally about long term growth.
It's been those stats for the last kind of ten, fifteen years.
So I think all the objective data backs up exactly what you said about this being a kind of like thirty plus year trend and we're in kind of like year ten or something of that holder.
Yeah.
It's by I like I know we both hate the word deal.
Yeah.
I I I don't think we're deal doers in any sense of the word.
I can try and obliterate it from a language.
I think we're investors and and it's just a fundamentally kinda different uh different mindset I think.
And
I think that is genuinely gonna like again, trying to be engineer, trying to be object, I know you're an engineer as well, trying to be objective about it.
If you look at the businesses at the largest size in our portfolio, a number of which we've held for kind of like seven, ten, fifteen plus years, those businesses, you know, we're seeing growing at rates that are at or greater than at any time in their history.
Um and I think that's kind of testament to that kind of longer term.
kind of philosophy and I think it is something of a differentiator for us that I know where you and I are very, very kind of focused on is how can we build more of these businesses that get to five billion, ten billion enterprise value but actually don't cap out.
Showing 121–140 of 529 · page 7 of 27
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