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Libby Cantrill

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63
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2018-05-31
most recent
2018-05-31
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1
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  1. “Right. You want to walk out. We could spend three hours going over. I don't know. I don't know if your listeners are going to appreciate that. But no, but sort of to your question about how our investment committee thinks about this. Well, first of all, I mean, I would say that politics and policy have always been a big part of what we've considered at least. It's been one of the inputs to our investment process.”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “Other than him, for the rest of us, it's just been non-stop. Especially if you're in the, you know, if you have to follow the news as part of your job. I mean, of course, from a policy, from a wonk and nerd position that I kind of think of myself as a policy nerd, it's fascinating, right? Because this is a really dynamic, you know, really in some ways unpredictable policy making environment.”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “Well, I think in some ways it's all of the above. And I agree with you, it's just been relentless, right? I mean, the news cycle over the last two years has been, you just cannot escape it, you know. One guy, like that one guy.”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “This position is that I'm pretty integrated into the investment process. So helping our investment committee sort of think about what's going on in Washington and how that may inform our positioning and our macro outlook. And then sort of the last sort of function that I serve is talking to clients about how we're thinking about Washington, how we're looking at things, and as you might imagine, on any given day, there's more demands in one of those sort of parts of the function than others. So sometimes our clients are really wondering, I got lots of questions about tariffs or about tax or what have you, other times we're playing more of an active role in Washington from a traditional government affairs perspective.”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Yeah, I mean, I think that title is vague enough that it has sort of encapsulates a lot of what I do and allows it to be really dynamic, which it is. So the way I think about the position, and the position didn't exist before I sort of took it over. And so in some ways that's given me a lot of flexibility and the firm a lot of flexibility in order to sort of design it in the way that they see fit and that is the most beneficial from a client and investment perspective. So I view myself as wearing a couple of different hats in that role. One is this sort of traditional government affairs role, which is advocating on behalf of our clients and our business about policies in Washington or playing defense in some ways depending on the administration and what's going on in DC. So one's more of a traditional government affairs role. The other hat, though, that I think is more unique in”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Right, no, exactly. And I think, you know, again, I see a lot of my friends who went right from investment banking to private equity to business school. And then they kind of had a reckoning in their career, right? Because they hadn't necessarily scratched those itches that were maybe a little bit more unconventional and a little bit scarier. And you have less to lose in your 20s, right? And have a family. Perfect time. No mortgage. Right. And I had made enough money at Morgan Stanley to, you know, have some savings because it was a really dramatic pay cut. But again, money had never really been sort of the big focus in my life. It was doing, I mean, again, sounds sort of cheesy, but doing something that fulfilled me and taking that step really kind of satisfied a lot of what I was looking for.”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “Yeah, it's, you know, it's so Trey, right? Kind of do something that pushes you, that's uncomfortable. But at business school, one of my professors gave her kind of at Harvard, they had these last speeches of every semester. And she said, you know, go towards the discomfort in your career. So when somebody asks you to do something that feels really uncomfortable and makes you sort of nauseous, do that because that means that you're going to learn. And even if you fail, you're learning through failure. And so, you know, I think this going to Washington.”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Really significant pay cut to do something that was pretty risky. But this woman who I'd worked for in Colorado had later gotten elected to Congress. And so then I worked for her as a legislative aid. And I really do view that as one of the inflection points in my career as something that felt Really uncomfortable and really scary, but it was in retrospect the best decision. Would you recommend going to inform, you know, so much of what I'm doing today?”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “Yeah, so when I was at, so I did a third year investment banking at Morgan Stanley. I was in financial sponsors, so sort of in the private equity group. And when all my friends were graduating from the analyst program, they were all going into private equity programs, TPG and Apollo. And I just felt as much as I liked my experience in investment banking and in some ways so many of the things that I apply today, I learned from that experience, I just was looking for something more. And before I even went to college, I had worked as a volunteer for a woman at the time who was in the Colorado State Legislature where I'm from. And I had sort of always had this itch about going to Washington. And so it felt like it was scary in a lot of ways because as again, all my friends in investment banking at Morgan Stanley were going to these, you know, these premier private equity firms. And I was thinking of taking”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “About a house. And that's like the light bulb goes off. This is all going to collapse. Right. Exactly. Congresswoman, yes. Congresswoman”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Yeah, exactly. And I think even in the run up on the housing side as well, I was in business school and I remember being in a class in my business school colleagues were just pounding the table that everybody should be able to own a house and it doesn't matter what their income was and doesn't matter exactly or three. Everybody should be able to get a loan. And again, that just didn't pass the smell test. And I think my experience at Morgan Stanley just sort of reinforced the importance of common sense and the smell test.”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “What you need if you're going to go to the market. Yeah, if you're going to go to finance, but it's different, right? I mean, I'd never taken an accounting course, but something that I did, I think that has stayed with me is that when I entered the technology group at Morgan Stanley, I was questioning how we were valuing these companies when not only did they not have profits, but they hardly had any sales. And of course, a lot of people who were much more senior to me and much more experienced and I think much wiser said, oh, you know, Libby, you'll learn, you know, you just, you know, you're getting your feet wet. And yeah, in terms of corporate finance. So, you know, that's held to me this day because, you know, common sense actually does typically prevail. So when all of these things did unravel, I think in some ways to my very kind of nascent neophyte, you know, point of view, it wasn't necessarily that surprising.”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “Yeah, I mean, it was certainly an interesting time. And not only was I invest in banking, but I was actually in the technology corporate finance department of invest in banking. So I was right. I was had a front row seat in some ways to the run-up to the bubble. And then, of course, the bubble bursting. I mean, it was interesting because I think in some ways, looking back on it, it just think it reinforced this idea of the markets are cyclical that asset prices go up. And if they go up to a point where that they seem completely disconnected to their fundamentals, then there's probably a problem. Going back, I didn't have a sort of a traditional business background in college. I majored in math and economics. At Brown, there was no pre-business. But math and economics.”

    2018-05-31 · Masters in Business · Libby Cantrill Discusses Fixed Income and Equities · IDENTIFIED FROM THE TRANSCRIPT · source