Today on the Enquire Podcast, we are joined by J.P. Morgan portfolio manager, Sam Witherow, to discuss investor relations in 2024. We discuss highlights from Sam’s career, the suite of income products he runs at J.P. Morgan, and the requirements of these funds. We delve into the importance of having a flexible mindset in this industry. Sam also tells us what would put him off of buying a high-yield stock, his outlook on 2024, and the biggest challenges he has faced as a portfolio manager. Finally, Sam breaks down how often he meets with his portfolio companies, how he gives feedback, what a good presentation looks like to him, and the primary information sources he uses. Thanks for listening in!
Key Points From This Episode:
Quotes:
“Ultimately, of course, clients want great total returns and amazing yields. We all want to have our cake and eat it to some extent.” — Sam Witherow [0:16:40]
“Once a company stops growing, it doesn’t matter what the payout ratio is, eventually the dividend will get cut.” — Sam Witherow [0:17:50]
“We’ve been through a period of exceptional margin expansion driven by very unusual pricing power. So, lots of businesses found pricing power for the first time in a decade.” — Sam Witherow [0:22:27]
Links Mentioned in Today’s Episode:
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