Short Briefings on Long Term Thinking - Baillie Gifford
Baillie Gifford’s Short Briefings on Long Term Thinking bring valuable insights into the benefits of taking the long view. You’ll hear frank, thought-provoking opinions from their team in Edinburgh and experts around the world. These podcasts do not constitute an offer of or solicitation for purchase or sale of securities or provision of any investment services. They are provided for information only and should not be considered as investment advice or a recommendation to buy, sell or hold a particular investment.
Episodes
Why American culture feels so chaotic – and how investors can benefit
The US public’s tastes and habits are fragmenting, leading to new consumer behaviours. The shift from a handful of TV networks to an endless supply of streamed shows and social media clips is just one of many causes. Investment manager Dave Bujnowski discusses the characteristics that determine which growth companies should thrive in the resulting ‘high entropy’ environment.Dave Bujnowski is an in
The big squeeze: when bottlenecks work to your advantage
Bottlenecks often act as constraints on growth, but companies that create funnels through them can gain pricing power and capture long-term value. Investment manager Mike Taylor reveals some of the companies he thinks achieve this best and how he spots such pinch points before they fully form.Mike Taylor is a Baillie Gifford partner, an investment manager in its Global Alpha Strategy and a co-mana
The active edge: the case for growth in uncertain times
A series of “extraordinary” events has made the environment more challenging for growth stocks. But “this level of trepidation can’t go on forever”, says Baillie Gifford partner Stuart Dunbar in this latest episode, suggesting that patient investors will benefit when stability returns and the markets value exceptional companies at a premium again. Stuart Dunbar is a director in Baillie Gifford’s C
China’s new growth leaders: inventing, not copying
From new cancer drugs to batteries and robotics – China’s top-tier growth companies are forging paths of their own rather than following in the west’s footsteps. Investment manager Sophie Earnshaw names companies that have caught her eye and explains why being a long-term stock picker differs in China from elsewhere. Background:Sophie Earnshaw is a decision-maker on our China Equities Strategy and
Smarter models, sharper founders: growth investing in the AI era
With developments in generative AI progressing at such a furious pace, how can investors cut through the noise to identify the companies that will really matter? Baillie Gifford’s Kyle McEnery shares his approach to meeting the entrepreneurs building the future – including his encounters with AppLovin, Anthropic, NVIDIA, Roblox and Reddit. Background:Kyle McEnery is an investment manager in our Lo
Emerging market companies leapfrogging western rivals
From Pony.ai launching a robo-taxi service during a Shanghai storm to E Ink revolutionising the way supermarkets label their shelves – emerging market companies are in many cases leapfrogging western counterparts. In this episode, investment manager Alice Stretch reveals to host Leo Kelion some of the most disruptive companies innovating at speed in Asia and Latin America. Background:Alice Stretch
Private companies: from Anthropic to Zetwerk – and other new investments
AI lab Anthropic, digital bank Revolut, Chinese social network Xiaohongshu and supply chain specialist Zetwerk count among Baillie Gifford’s most recent private growth company investments. These bold pioneers are part of an expanding asset class, representing some of the world’s fastest growing and most disruptive businesses. Investment manager Robert Natzler tells host Leo Kelion how and why we b
Where obsession meets opportunity: Japan’s ‘overlooked’ small caps
From using AI to create better weather forecasts to helping people with disabilities get their dream job, Japan’s small companies are a disruptive force.
Beyond the benchmark: Baillie Gifford CEO on why being different pays off
“If you’re trying to find the very best growth businesses on the planet – a benchmark isn’t a sensible place to start.” Baillie Gifford’s chief executive Tim Campbell explains the advantages of our style of active investing, the importance of long-termism and how AI fits into our process. Background:In April, Tim Campbell became Baillie Gifford’s chief executive and one of its managing partners. E
Skin in the game: the hidden power of persistence
Inside ownership can give companies an advantage when it comes to long-term growth. That includes having a leader or family with a substantial stake in the business. And it also covers firms with farsighted backers, such as philanthropic foundations, which encourage management to take the long view. From airline Ryanair to hearing aid specialist Demant, investment manager Jenny Davis explores how
The ‘invisible’ millions: banking’s new frontier
From microloans for farmers to free savings accounts for the ‘unbanked’ to customised insurance for gig workers to a cheaper, faster way for migrants to send money to loved ones: a growing range of services is helping many of the world’s least advantaged citizens increase their financial resilience. Previously, banks and other traditional lending institutions overlooked these customers. But as imp
Emerging markets: the next engines of global growth
Emerging markets are reshaping the global economy, and a convergence of powerful, long-term trends is accelerating this shift. These include surging demand for commodities, exploding middle-class spending power and booming inter-regional trade. Investment specialist Andrew Keiller reveals some of the standout growth companies positioned to capitalise on this transformation and why now might be the
UK growth: opportunities amid tariff turbulence
Prime Minister Sir Keir Starmer has pledged to "turbocharge" Britain's growth strategy in response to new US tariffs. His government is prioritising key sectors poised to drive prosperity, including advanced manufacturing, AI and the creative industries. Baillie Gifford's head of UK equity, Iain McCombie, discusses some of the companies already excelling in these sectors how they can prosper over
European growth: unique brands, hidden champions
Are European stocks coming back into favour? After years of underperformance, many of the continent’s companies appear undervalued when compared to their historical prices and US counterparts. Investment manager Stephen Paice suggests that a group of growth-focused stocks could be among the biggest winners if sentiment shifts, and he identifies a handful of places they are thriving.
Quantum, space, fusion: 3 firms engineering the future
Three technologies – quantum computing, reusable rockets and nuclear fusion – could change the trajectory of human progress. Find out how a trio of private companies is bringing them closer to fruition.
5 inevitable and investable growth drivers
From smarter robots to intelligently designed drugs, Baillie Gifford partner Stuart Dunbar discusses some of the transformations that will define the years ahead.
‘Ordinary’ but exceptional: firms leading the US’s infrastructure renaissance
The US’s transformational upgrade of its drainage, power and road networks is a long-term investment opportunity hiding in plain sight. In this podcast, Michael Taylor reveals some of the outstanding companies involved and makes the case that the markets have yet to fully appreciate the advantages working in their favour. Background: Michael Taylor is an investment manager in Baillie Gifford’s US
Private companies: backing tenacious trailblazers
Many of the world’s most exciting, high-growth and disruptive companies are private. Moreover, the entrepreneurs running them are typically keeping them private for longer before trading their shares on public stock exchanges – and in some cases have no plans to do so. Baillie Gifford’s Private Companies Team seeks out exciting businesses and founders in this space to give our clients access to an
Why growth investors can’t ignore China
China is transitioning from a property-led economy to one focused on advanced manufacturing. It already leads the world in electric car production and the batteries that power them. And it’s also a growing force in renewables, robotics and biotech. Investment manager Helen Xiong discusses some of the growth companies involved, why concerns about overcapacity seem overstated and why rising trade ba
Capitalising on change: Japan’s growth champions
Upheaval can create opportunity. Baillie Gifford’s Japan Team seeks out companies that will derive the greatest long-term benefit from transformational forces impacting business and broader society. In this podcast, investment manager Matthew Brett identifies four ‘structural growth’ drivers and the portfolio companies taking advantage of them. Background:Matthew Brett is the investment manager of
The efficiency effect: how four companies shaped up for a new era
Sometimes, you have to take a step back to leap forward. Over the past couple of years, Meta, Amazon, Block and Shopify are among the growth companies to have made efficiency cuts following the pandemic. Gary Robinson, an investor in Baillie Gifford’s US Equity Team, says that’s made them more agile and resilient – qualities that will let them take advantage of artificial intelligence and other op
Why emerging markets have changed
Emerging markets have sometimes promised more than they have delivered, but circumstances may be tipping in growth investors’ favour. Will Sutcliffe, head of our Emerging Markets Team, explains why it’s an opportune time to invest in the asset class. Background: Will Sutcliffe is the head of Baillie Gifford’s Emerging Markets Team and co-manager of our Emerging Markets Leading Companies Fund. In t
The weight-loss drug with huge growth potential
A new medicine that can help patients lose 15 per cent of their body weight could have far-reaching consequences for healthcare. Wegovy mimics a hormone the gut releases, reducing appetite and slowing digestion to delay hunger’s return. Research is also underway into other potential health benefits. In this podcast, Baillie Gifford investment manager Ross Mathison discusses its maker, the Danish p
The 3 characteristics of great growth companies
What distinguishes companies that will thrive from those that will perish? In this episode, we explore three traits that mark out the companies set to surge ahead from those more likely to struggle: 1. They solve real-world problems2. They are financially strong and disciplined3. They are highly adaptable Baillie Gifford partner Tim Garratt discusses these characteristics, gives exa
The Amazon way: mixing ones and zeros with nuts and bolts
Show notesAmazon and DoorDash take different approaches to bridging the physical and digital worlds. Amazon has built an extensive infrastructure of warehouses, logistics networks and data centres to directly control its operations. DoorDash instead relies on partnerships with restaurants and stores for deliveries, limiting its capital investment. In this podcast, Baillie Gifford investment manage
Beyond China: south-east Asia’s next export stars
China became known as the world’s factory thanks to it offering companies a way to manufacture all kinds of goods at a high quality and relatively low cost. But in recent years, south-east Asian nations, including Vietnam and Indonesia, have begun challenging it for that status. Baillie Gifford investment manager Ben Durrant recently returned from a tour of the region. He discusses some of the lon
Japan: a new dawn for growth investing
Is the time ripe for Japanese growth stocks? Donald Farquharson is Baillie Gifford’s head of Japanese equities and knows the market better than most. In the latest episode of Short Briefings on Long Term Thinking he draws on a recent visit to the country to explain why conditions seem favourable for a cohort of domestic companies with long-term mindsets. Background There’s a sense of renewed confi
The science and art of picking growth stocks
What counts as a growth stock is ever-changing. Mark Urquhart shares lessons from 27 years of investing to explain how he decides what to buy and how long to hold as he continues his hunt for outsized returns. Background: In 1996, our largest investments included oil and gas companies and high street banks. These days, our biggest holdings specialise in computer chips, ecommerce and biotech. We s
The power of Actual investing during changing times
Stuart Dunbar explains why a long-term investment approach suits the new types of growth companies that are emerging.Background:It’s been five years since Baillie Gifford launched its ‘actual investors’ campaign. It focuses on the firm’s long-term, active approach to growth. In this episode, the effort’s mastermind Stuart Dunbar joins Malcolm Borthwick to take stock and explain why actual investi
From steam trains to AI vision: 150 years of investing
To mark the pioneering Trust’s anniversary, James Dow delves into SAINTS’ origins and explains how he helped reinvigorate it for a new age.Background:The Scottish American Investment Company (SAINTS) made its debut in 1873, introducing the first trust to prevent shareholders from facing ruin if a business they backed failed. This groundbreaking approach instilled confidence, paving the way for the
Investing in a sustainability revolution
Keystone Positive Change’s Kate Fox on thinking about the world in 2050 to spot opportunities today.Background:Kate’s conversation with Malcolm Borthwick covers her work with the Deep Transitions Futures project, coordinated by the University of Sussex and Utrecht University and supported by Baillie Gifford.The project aims to identify patterns and insights from past ‘deep transitions’, such as th
Why small companies are big in Japan
Meet the lesser-known niche players thriving in the shadow of the country’s big brands Think of Japanese companies and chances are giants such as Sony, Hitachi and Mitsubishi come to mind. You probably don't think of Shima Seiki - a maker of automated knitting machines, Descente, which owns licences to use brands such as Le Coq Sportif and Umbro, or Shoei, a maker of handmade motorcycle helmets.
What’s next for growth stocks?
As many question the future of growth investing, the American Fund’s Dave Bujnowski explores the new engines powering progress.
Special Edition: How AI is transforming our industries
Kirsty Gibson and Julia Angeles on how technology is changing the way we do business.
Meet the companies disrupting the world’s biggest killer
Rose Nguyen on the companies seeking to overcome the scourge of heart disease.
Why 'what if...' is the most vital question for investors
Today’s outsized growth rarely follows a steady or predictable path, according to Kirsty Gibson of Baillie Gifford’s US Equities Team.
North stars: Why are Swedish companies world leaders?
It’s a small country with a large number of businesses that can keep innovating and growing for decades. Stephen Paice explores what’s so great about Sweden.
How education escaped from the classroom
Apps and online courses have upended the economics of education, making learning more accessible, fun and relevant. Positive Change’s Thaiha Nguyen explains.
Why private companies matter more
For Peter Singlehurst, head of the Private Companies Team, the difference between investing in a private company and a public company is that private companies choose their shareholders. So, why choose Baillie Gifford?
Growth or value? It's not a black or white choice
‘Growth or value’ has framed many investment narratives. But Monks’ Malcolm MacColl explains the two aren’t at odds.
Investing in Japan: What’s changed and what’s next
Over four decades Japan has seen 21 prime ministers come and go. Exporters such as Toyota and Toshiba have flourished but the country has also struggled with debt and deflation. Matthew Brett, manager of The Baillie Gifford Japan Trust, discusses what’s next.
How Harnessing Chaos Can Make Companies More Nimble
Chaos is often associated with a failure of leadership. Gary Robinson, manager of Baillie Gifford US Growth Trust, argues that the best bosses don’t resist disorder but channel it to create ‘chaordic organisations’ in which innovation thrives.
Exploring Sustainable Growth - A New Approach To ESG
Are your investments as good for the environment and society as you think they are? Stuart Dunbar, partner at Baillie Gifford, explains why too many people have been lulled into a false sense of security by metrics-based approaches to ESG that don’t support the transition to a more sustainable society.
Breaking the Biotech Model
Messenger RNA vaccines could provide a solution not just to Covid, but to cancer, and other diseases. Julia Angeles, co-manager of Baillie Gifford’s Health Innovation Fund, discusses how.
What I’ve Learned in Four Decades of Investing
Karma Chameleon topped the charts, Mrs Thatcher won a landslide and Monks’ manager Charles Plowden joined Baillie Gifford. 1983 was a year to remember. Charles reflects on what’s changed and looks at the investment opportunity to come.
Sustainable investing - Finding the innovative companies of the future
Are there limits to economic growth? Will we run out of ideas? Investment manager Lee Qian explains why he’s confident innovation will create a more prosperous, sustainable and inclusive world.
How Covid is changing the way we shop
With the high street either shut down or harder to access during the pandemic, consumer habits had to change. Moritz Sitte, joint manager of the Baillie Gifford European Growth Trust and the European Fund, explores what this means for the future of shopping.
The Great Divergence Between East and West
China has defied recession in 2020, but where to now? Investment manager Roderick Snell anticipates big things ahead.
Living longer: Can we afford it
More of us are living longer, staying healthier for longer and working for longer. What are the implications for investing and financing this longer life? Listen to Baillie Gifford’s Steven Hay to find out.
Tomorrow’s Income Aristocrats
Income investing has been shaken by the coronavirus, but how will this affect the dividend payers of the future? Baillie Gifford investment manager James Dow gives us a glimpse of the potential star performers of tomorrow.
The purpose of investing
Over the last decade the investment industry has become increasingly short term and increasingly complex. Stuart Dunbar talks to Malcolm Borthwick about whether the industry has lost its way.
Why this crisis favours growth stocks
Growth stocks have been more resilient during the coronavirus downturn. Tom Slater discusses why now is not the time to hunt for value stocks and accelerated digital disruption.
Navigating a stock market crisis
These are turbulent times for investors. Scott Nisbet shares what he has learnt from previous crises and talks about why now’s the time to read Albert Camus.
Reasons to be optimistic about emerging markets
Investing in emerging markets is like marmite. It divides opinion. Charles Plowden explains why he’s one of the optimists.
The beauty of Japanese cosmetics
Investment manager, Praveen Kumar explains why the Japanese cosmetics industry is in a period of rapid growth and how it could be set to continue for the long term.
Finding Europe’s hidden champions
Stephen Paice looks beyond the negative economic headlines to explore the exciting investment opportunities that are still to be found in Europe.
Space: the final investment frontier
From disrupting global telecoms to colonies on Mars, space enthusiast and investment manager Luke Ward looks at the potential prizes in the commercial race for space.
Will industrial biotech be the next manufacturing revolution?
From synthetic spider silk clothes to plant-based burgers that taste like meat, Kirsty Gibson is fascinated by how industrial biotech could transform nearly every aspect of our lives.
Fashion Retailers – the impact of online shopping
Episode 3: The differences between bond and equity investing
Lucy Isles, who’s been both a bond and an equity investor, looks at the differences and the similarities between the two.
Should income investors go global?
China Crisis. What Crisis?
