Time To Focus More On Management Teams and Less on Themes
As an investor it is always important to focus on the management team. This is true whether the company in question is privately-held or publicly-traded. Investors have paid little attention to management teams since QE became a thing and have barely paid attention to management teams since the Fed lost its mind in 2020 with its accelerated QE. If yields continue to climb at the long-end, management teams will increasingly matter. One of our favorites is The ICE (ticker: ICE) Founder and CEO Jeff Sprecher. Mr. Sprecher was inducted into our CEORater Hall of Fame class of 2020. Sprecher is both an outstanding operator and is a founder with an engineering background - a rarity among FinTech founders of Sprecher’s generation.