Capital Allocators – Inside the Institutional Investment Industry
Allocator and asset management expert, Ted Seides, conducts in-depth interviews with leaders in the institutional investing industry. Guests include Chief Investment Officers from leading allocators, asset managers, strategists, thought leaders, and many more. Our mission is to learn, share, and help implement the process of premier investors. Learn more and join our community at capitalallocators.com.
Total Ideas
2
With Returns
2
Equal-Weighted Return
+22.35%
All Ideas (2)
2 Total
Olympus Turnaround Focused on Medical Devices
"We started with one investment in Olympus. Olympus was perceived as a multiDindustry holding company... they had a camera business that was well known, but what was left was an incredible medical device franchise in GI endoscopes. We thought that they could build a strategy around that business and we were able to sync up with a management team that saw the same opportunity."
ValueAct identified Olympus as a candidate for strategic refocus. With its fading consumer camera business due to smartphone competition, the firm's strong medical device segment (particularly GI endoscopes) presents a clear turnaround catalyst. The commentary underscores the firm7s emphasis on operational focus as a key to unlocking value.
Microsoft Transformation via Office 365 Decoupling
"I came back and I did some math on a spreadsheet, and I was like, oh my gosh, one thing that's happening is that Office is decoupling from the Windows cycle... And the second thing was Office alone, if this thing works, is worth more than the entire company. So what about all the other pieces of the empire? Where's all the money going?"
The discussion centers on Microsoft013 transformation. ValueAct analyzed that the shift toward Office 365 and Azure could unlock significant value by decoupling Office from traditional Windows cycles, suggesting that the Office segment could eventually drive the company7s valuation independently. Although not an explicit trade call, the insight underlines a strong conviction in Microsoft7s strategic repositioning.