What We Think
What We Think
To invest differently, we first have to think differently. Every day we set out to imagine the future and the companies that will create it. Through our insights, we hope to elevate the thinking about the trends that we believe will shape the world of tomorrow.
To invest differently, we first have to think differently.
Every day we set out to imagine the future and the companies that will create it. Through our insights, we hope to elevate the thinking about the trends that we believe will shape the world of tomorrow.
Investment Strategy
Finding Common Ground—and Uncommon Returns in EM
Some of the best-performing emerging markets businesses are often led by founders and families. We believe their passion and grit lead them to launch the innovative businesses that often challenge the status quo, create new opportunities, and establish enduring legacies.
Investment Strategy
Building Sustainable Stewardship
As an active fundamental long-only manager focused on investing in innovative public growth businesses globally, we believe effective stewardship is very much aligned with our investment philosophy.
Investment Strategy
Insights Gained from Past Downturns
Sands Capital portfolio managers reflect on five powerful lessons they have learned while investing through past downturns.
Business Perspectives
Episode 3: Credo AI
As artificial intelligence (AI) becomes a part of our everyday lives, making sure it’s transparent and unbiased has become a high priority for businesses, governments, and ordinary people.
Investment Strategy
Assessing Value in a High-valuation Market
After two years of strong equity returns, valuations sit at historical highs—raising questions about future market performance. While elevated valuations can signal lower long-term returns, structural shifts like AI-driven innovation and broadening earnings growth may tell a different story.
Impact
WEG’s Leading the Way in Sustainability and Innovation
WEG is setting new standards for sustainability and innovation by focusing on energy efficiency and renewable solutions that deliver cutting-edge technologies to align with the needs of a rapidly changing world.
Investment Strategy
Riding India’s Digital Wave
Indian businesses that are able to seize the country’s increased digital and physical connectivity to find innovative and cost-effective ways to fill the unmet or evolving demands could find long runways for growth.
Business Perspectives
Episode 2: Nubank
Sr. Research Analyst Eduardo Leal explains how Brazil’s Nubank went from startup to the country’s second largest corporation in just 10 years. We explore how mobile banking is opening financial doors for global citizens and how we believe Nubank is poised to remake the Brazilian banking industry.
Investment Strategy
Moving from Disruption to Opportunity
As we approach the end of 2024, we are excited about the transformative trends that are opening new opportunities for our portfolio businesses and the markets they serve.
Investment Strategy
Assessing Power Constraints for AI
Power constraints represent a notable but addressable challenge for the continued growth of artificial
intelligence. While deficits are likely to emerge, our research indicates they should remain manageable through 2027.
Business Perspectives
Episode 1: Samsara
In this episode of What Matters Most, we explore Samsara’s innovative approach to data collection and visualization. Learn about the company’s rapid growth, market potential, and competitive advantages — as well as what international expansion could mean for the business.
Investment Strategy
International Equities: The Elephant in The Room
As allocators increasingly overweight U.S. equities, we remind them that some of the best growth businesses lie outside the United States. These businesses provide differentiated growth potential, and can also help mitigate downside risk within a diversified portfolio.
Investment Strategy
Positioning Investments in an Uncertain Election Environment
History suggests that markets trend upward regardless of who’s in the White House and who controls Congress. That said, given today’s geopolitical, economic, and social crosscurrents, we believe that selectivity will become increasingly important.
Investment Strategy
Decoding Software’s Future
The combination of software and the move to cloud computing remains one of the largest secular growth trends we see, which is driving increased demand for scalable, cloud-based solutions across every sector of the economy.
Business Perspectives
Bringing Governance to AI
Navrina Singh and Credo AI are helping organizations build AI responsibly, by providing an AI governance software platform to ensure technology is fair, compliant, safe, secure, auditable, and human centered.
Investment Culture
Fostering Long-term Thinking
Executive Managing Director and Senior Portfolio Manager Brian Christiansen discusses the importance of candor, collaboration, and entrepreneurialism in creating a culture that promotes long-term thinking.
Impact
Nubank Transforming the Industry, One Market at a Time
Nu Holdings’ Nubank focuses on driving financial inclusion among underbanked populations who lack sufficient access to mainstream financial services and products, including access to common banking services, such as credit cards or loans.
Investment Strategy
Gen AI: Hype or Megatrend?
Generative artificial intelligence has been gaining traction across industries, powering an explosive demand for computing power and systems that could enable new use cases for businesses, schools, consumers, and society in general.
Investment Strategy
Quality Is Not Just a Factor
To us, the concept of quality is linked to a company's ability to increase its market share at the expense of competitors, to sell ever more value-adding goods and services, and to expand its leadership in attractive business spaces through innovation and disruption.
Business Perspectives
Episode 11: Titan
In this episode of What Matters Most, we delve into the world of Titan, India’s leading jewelry and watch retailer, with Sr. Research Analyst Massimo Marolo. Explore the cultural significance of gold in India, the dynamics of the fragmented jewelry market, and Titan’s advantages as a trusted, vertically integrated brand.
Investment Strategy
Thirty Years of Growth Investing: Assessing the Past and Looking Forward
Equity markets have witnessed significant gains and shifts, including rising market concentration. Learn how this evolving landscape fosters an environment conducive to Select Growth's high conviction and long-term approach.
Investment Strategy
Examining the Governance Risks of AI
The broad adoption of generative artificial intelligence could be one of the greatest changes of our lifetime. The risks and unintended consequences that could accompany that widespread use as become a key focus of our stewardship efforts when engaging with our portfolio businesses.
Investment Strategy
What’s Next for Gen AI
We are in the early stages of the most significant paradigm shift of our lifetime. Listen to Sands Capital Sr. Portfolio Manager Thomas Trentman, CFA, discuss the opportunities generative AI has created and where it could take us in decades to come.
Business Perspectives
Episode 10: Flutter
Discover how Flutter is leveraging technology, regulatory changes, and a deep understanding of customer behavior to redefine the betting experience in this podcast episode. From the intricacies of in-game betting to the challenges of responsible gambling, this episode offers a compelling glimpse into the high-stakes world of online betting.
Investment Culture
Instilling a Long-term Focus
At Sands Capital we encourage our investment team to think in decades not quarters. Tune in as Director of Research Michael Raab, CFA discusses how culture can support the visionary research needed to find businesses creating the future.
Investment Strategy
An Earnings-powered Recovery
Markets may not fully appreciate what we see as the significant improvements many of our portfolio businesses have made to their underlying fundamentals.
Business Perspectives
Episode 9: Kaspi
In this episode of What Matters Most, uncover the distinct challenges and prospects of operating and investing in Kazakhstan, a geopolitically intriguing emerging market, and learn how Kaspi is revolutionizing the financial sector, boosting consumer interaction as it cleverly layers its platform, and hoping to accelerate the future of digital finance.
Business Perspectives
The Software Powering Semiconductor Breakthroughs
In this episode of What Matters Most, Sr. Research Analyst Daniel Pilling takes us on a deep dive into the world of Cadence, the leading software provider in the semiconductor industry. From the evolution of semiconductor design to the potential of generative artificial intelligence (AI), we explore the intricate processes and challenges in chip design.
Business Perspectives
The Hidden Player in the Semiconductor Boom
You’ll find semiconductors in just about every device with a plug, a power button or a battery. In this Season 2 episode of What Matters Most, Sands Capital technology analyst Daniel Pilling explains why Entegris, a critical player in the global semiconductor industry, is seeing rapid growth as the demand for AI and machine learning intensifies.
Business Perspectives
An Automation Leader Poised for Growth
Nearly every factory has room for more automation, with greater penetration in existing industries and expansion into new industries expected over the next decade. In this Season 1 podcast, portfolio managers Sunil Thakor and Danielle Menichella discuss Keyence, a likely beneficiary of that growth.
Investment Strategy
Assessing the New AI Paradigm
Businesses that provide the building blocks for generative AI or are able to harness its power to provide better products and services should be the beneficiaries of this first wave of the artificial intelligence revolution.
Investment Strategy
Investing in the Face of Climate Change
As long-term stewards of capital, we believe it is critical that businesses, investors, and capital allocators factor climate change into their long-term strategies as they would any other environmental, social, or governance issue.
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Category
Business Perspectives
Bringing Governance to AI
Navrina Singh and Credo AI are helping organizations build AI responsibly, by providing an AI governance software platform to ensure technology is fair, compliant, safe, secure, auditable, and human centered.
Load more
Podcasts
Business Perspectives
Episode 3: Credo AI
As artificial intelligence (AI) becomes a part of our everyday lives, making sure it’s transparent and unbiased has become a high priority for businesses, governments, and ordinary people.
Business Perspectives
Episode 2: Nubank
Sr. Research Analyst Eduardo Leal explains how Brazil’s Nubank went from startup to the country’s second largest corporation in just 10 years. We explore how mobile banking is opening financial doors for global citizens and how we believe Nubank is poised to remake the Brazilian banking industry.
Business Perspectives
Episode 1: Samsara
In this episode of What Matters Most, we explore Samsara’s innovative approach to data collection and visualization. Learn about the company’s rapid growth, market potential, and competitive advantages — as well as what international expansion could mean for the business.
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Perspectives Newsletter
Our latest thinking on innovation investing, long-term capital, and culture.
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