Ben Thompson
Investment Manager, Baillie Gifford & Co.
Law (Hons), Edinburgh
What attracted you to this career?
I have always been broadly interested in
how and why things work. The stock market
is often where the impact of global issues –
politics, economics, ecology, science – are
given the greatest attention. People have
invested money based on their expectations
of these events. Being a stock market
investor appealed to me as a way to satisfy
my curiosity.
What happened from graduation onwards to
get you where you are today?
I started as a trainee investment manager
with analytical responsibility for various
economic sectors. Over time I have analysed
a variety of different investment sectors and
more recently have taken on more managerial
responsibilities. Having started my career
making investment recommendations, I am
now in a position to act for our clients on
those ideas.
What do you do on a daily basis?
I keep abreast of developments in my
analytical sectors, continue research into those
areas, make investment decisions, discuss
ideas with colleagues and industry specialists
and report on my work to our clients.
The bulk of my time is spent in the office
but a vital part of investment management
is kicking the tyres of your investments, so I
will spend some time out on the road meeting
management.
What's stood out as the biggest challenge
you have faced at work?
Every investment decision, which can range
from a few million pounds up to hundreds of
millions, is a huge challenge. Intellectually
it requires substantial research and analysis,
but I'm always aware that I might be
overlooking key information. I have to be
able to answer why I differ from the market,
when the market has the same information.
Making a investment recommendation is
stressful because my colleagues and clients
will question in detail the merits of my
views. However I am able to rely on the well
developed research process and analytic tools
that my employer provides. I'm also fortunate
to work in a supportive environment where
investment ideas are discussed on their merits,
not on personalities. With that advantage, the
challenge is a pleasure rather than a chore.
What do you like most about your job?
The intellectual challenge is stimulating and
very demanding.
Substantial responsibility: you are in charge
of decision making for sizeable investments.
You work to your own schedule: fund
management is one part of financial services
where you have the luxury of defining your
own workload and focus, and not being
directed by others.
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