Oct 1, 2026 · 24 min · 9 segments
After studying history at Yale, Ryan Floyd moved to Mumbai to work at Mahindra & Mahindra. His time in India convinced him that he wanted a career allocating capital in developing markets, places that…
Ryan FloydGuest
Chipo MuwowoHost
That curiosity takes Barker Capital to lots of regions or countries of the world that are probably fair to say ignored or don't attract as much attention from more mainstream investors.
We are a small team and I set the business up almost 20 years ago to try to look primarily at emerging and frontier equities, but we look at other things too, mostly outside of the United States to find investments that are misunderstood for some kind of reason.
or ignored for some sort of reason, maybe because it's too small or it's in a place that people find scary because the headlines aren't great or people have a thesis that doesn't seem right or they're ignoring some part of some sort of business.
And then generally speaking, not always, but generally speaking, try to own something for often multiple years.
In some case, it's shorter if the stock goes up a huge amount or the thesis change changes, I'll get rid of it.
But generally speaking, own something that people don't seem to understand as well or have ignored or are scared of often in parts of the world that a lot of eyeballs are not looking.
How do you go about assessing or judging the best opportunities to invest in? Just give me a bit more of a sense of your process or your thinking.
You mean in terms of ordering preference or how do I nix ideas and say, no, no, this doesn't seem interesting enough?
I'd say what's really important is some combination between how much a company can grow and the free cash flow they can produce and the yield that we get.
So I'm happy with a company that can grow revenues and profits for a long time that don't pay high dividends or buy back a lot of shares.
But also sometimes you can find interesting companies and businesses that don't grow that much but have a very, very high yield.
And so valuation is an important part of that, which filters through the yield and also some growth component.
I'm always looking all over the place for different investments in lots of different places.
I would say, having done this for almost 20 years, I've turned over many, many stones.
That curiosity takes Barker Capital to lots of regions or countries of the world that are probably fair to say ignored or don't attract as much attention from more mainstream investors.
We are a small team and I set the business up almost 20 years ago to try to look primarily at emerging and frontier equities, but we look at other things too, mostly outside of the United States to find investments that are misunderstood for some kind of reason.
or ignored for some sort of reason, maybe because it's too small or it's in a place that people find scary because the headlines aren't great or people have a thesis that doesn't seem right or they're ignoring some part of some sort of business.
And then generally speaking, not always, but generally speaking, try to own something for often multiple years.
In some case, it's shorter if the stock goes up a huge amount or the thesis change changes, I'll get rid of it.
But generally speaking, own something that people don't seem to understand as well or have ignored or are scared of often in parts of the world that a lot of eyeballs are not looking.
How do you go about assessing or judging the best opportunities to invest in? Just give me a bit more of a sense of your process or your thinking.
You mean in terms of ordering preference or how do I nix ideas and say, no, no, this doesn't seem interesting enough?
I'd say what's really important is some combination between how much a company can grow and the free cash flow they can produce and the yield that we get.
So I'm happy with a company that can grow revenues and profits for a long time that don't pay high dividends or buy back a lot of shares.
But also sometimes you can find interesting companies and businesses that don't grow that much but have a very, very high yield.
And so valuation is an important part of that, which filters through the yield and also some growth component.
I'm always looking all over the place for different investments in lots of different places.
I would say, having done this for almost 20 years, I've turned over many, many stones.
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