Aug 12, 2026 · 46 min · 13 segments
Is value investing making a comeback? Jack Barrat shares his perspective on why today’s market environment may present compelling opportunities, how AI is transforming fund management, and why some of…
Jack BarratGuest
Algy Smith-MaxwellHost
I think we made more mistakes, or I personally made more mistakes last year than I've done in a number of years, and I found that quite difficult.
And I think some of the great risk-adjusted decisions I think we made last year were, didn't come off in the way that I wanted them to, and responding to that, I think, was a real challenge.
And so, um, do you think it's an advantage being a, a long-short fund manager as well as a long-only fund manager, or do you think it's a distraction?
Um, I think that the first thing I should say is that our process doesn't have a separate way necessarily of thinking about shorts.
It tries to understand the value of a business, what you're paying for a company-
And so the mindset, the lens with which we look at a company is exactly the same for the long and the short.
Um, and actually we find it very, very symbiotic thinking about overvaluation as well as undervaluation.
So I think there's enormous value of a mindset or a process that can capture both overvaluation and undervaluation through a company cycle.
I think we made more mistakes, or I personally made more mistakes last year than I've done in a number of years, and I found that quite difficult.
And I think some of the great risk-adjusted decisions I think we made last year were, didn't come off in the way that I wanted them to, and responding to that, I think, was a real challenge.
And so, um, do you think it's an advantage being a, a long-short fund manager as well as a long-only fund manager, or do you think it's a distraction?
Um, I think that the first thing I should say is that our process doesn't have a separate way necessarily of thinking about shorts.
It tries to understand the value of a business, what you're paying for a company-
And so the mindset, the lens with which we look at a company is exactly the same for the long and the short.
Um, and actually we find it very, very symbiotic thinking about overvaluation as well as undervaluation.
So I think there's enormous value of a mindset or a process that can capture both overvaluation and undervaluation through a company cycle.
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