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Brown Advisory CIO Perspectives

Brown Advisory CIO Perspectives

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Welcome to our Investment Podcast where our CIOs explore issues of the day with leading investors from inside and outside Brown Advisory.Brown Advisory Economía Finanzas Personales
Episodios
  • Quality Stocks on Sale: Value Investing in an AI-driven Market

    Quality Stocks on Sale: Value Investing in an AI-driven Market
    Mar 23 2026
    In this episode of CIO Perspectives, host Sid Ahl speaks with portfolio manager Mike Poggi, who manages the Brown Advisory Large-Cap Sustainable Value strategy, about the return of value investing and why quality stocks are being overlooked in an AI-focused market. Mike shares how sentiment toward value has shifted, why free cash flow and balance sheet strength matter more today, and how recent pullbacks in Software and other industries are creating opportunities for disciplined investors. They also discuss the challenges facing quality-focused strategies, the role of sustainability in cash flow durability, and the catalysts emerging across Industrial, Technology and Health Care companies.---The views and opinions expressed in this podcast are those of the speakers and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice, nor are they intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be, and should not be considered, a recommendation or suggestion to engage in, or refrain from, a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. To the extent specific securities are mentioned, they have been selected by the author on an objective basis to illustrate views expressed in the commentary and do not represent all the securities purchased, sold, or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy and is not a complete summary or statement of all available data. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.Alternative Investments may be available for Qualified Purchasers and Accredited Investors only.Risk of Capital Loss: Private investments are characterized by a high degree of risk, volatility and illiquidity due, among other things, to the nature of the investments.Portfolio information based on a representative Large-Cap Sustainable Value account as of 03/06/2026.Sustainable investment considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. Sustainable investment analysis may not be performed for every holding in the strategy. Sustainable investment considerations that are material will vary by investment style, sector/industry, market trends and client objectives. Certain strategies seek to identify companies that they believe may be desirable based on our analysis of sustainable investment related risks and opportunities, but investors may differ in their views. As a result, these strategies may invest in companies that do not reflect the beliefs and values of any particular investor. Certain strategies may also invest in companies that would otherwise be excluded from other funds that focus on sustainable investment risks. Security selection will be impacted by the combined focus on sustainable investment research assessments and fundamental research assessments including the return forecasts. These strategies incorporate data from third parties in their research process but do not make investment decisions based on third-party data alone.Sectors are based on the Global Industry Classification Standard (GICS) sector classification system. The Global Industry Classification Standard (GICS) was developed by and is the exclusive property of MSCI and Standard & Poor’s. “Global Industry Classification Standard (GICS), “GICS” and “GICS Direct” are service marks of Standard & Poor’s and MSCI . “GICS” is a trademark of MSCI and Standard & Poor’s.Buyback yield is the percentage of a company’s market value returned to shareholders through share repurchases.Capital discipline is the way a company manages leverage, allocates cash and maintains balance sheet flexibility to support long-term value creationCapital expenditures (CapEx) are funds used by a company to acquire, maintain or upgrade physical assets such as property, equipment or technology.Dividend yield is the annual dividend paid by a company divided by its share price, expressed as a percentage.EBITDA (earnings before interest, taxes, depreciation and amortization) is a measure of a company’s operating performance used to evaluate profitability and compare companies across industries.Enterprise value (EV) is the combined value of a company’s equity and net debt. Earnings Per Share (EPS) is a financial metric that indicates ...
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    59 m
  • SaaSpocalypse, the AI Death Star and Private Credit Indigestion

    SaaSpocalypse, the AI Death Star and Private Credit Indigestion
    Mar 5 2026
    In this episode of CIO Perspectives, host Sid Ahl speaks with Kif Hancock, International CIO, and Campbell Donley, CIO Investment Analyst, about the sharp market reaction to AI, the so‑called AI Death Star and the recent pressure in private credit — and how today’s volatility is creating opportunity. The conversation covers why quality has trailed, where dislocation is creating opportunity and how the most concentrated U.S. market in decades affects portfolio construction. The team also examines a K-shaped consumer, rising youth unemployment, the case for international diversification and why private credit requires manager-by-manager scrutiny in a software-heavy cycle.---The views and opinions expressed in this podcast are those of the speakers and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice, nor are they intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be, and should not be considered, a recommendation or suggestion to engage in, or refrain from, a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. To the extent specific securities are mentioned, they have been selected by the author on an objective basis to illustrate views expressed in the commentary and do not represent all the securities purchased, sold, or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy and is not a complete summary or statement of all available data. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.Alternative Investments may be available for Qualified Purchasers and Accredited Investors only.Private investments are characterized by a high degree of risk, volatility, and illiquidity due, among other things, to the nature of the investments. A prospective investor should thoroughly review the Offering Materials pertaining to any investment and carefully consider whether such an investment is suitable to the investor’s financial situation and goals. Investors should have the financial ability and willingness to accept the risks and lack of liquidity that are characteristic of these types of investments. There can be no assurance that any investment objectives will be achieved, or that investors will receive a return of their capital. Accordingly, investors should only invest in private credit investments if such investors are able to withstand a total loss of their investment.The S&P 500® Index represents the large-cap segment of the U.S. equity markets and consists of approximately 500 leading companies in leading industries of the U.S. economy. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”), a subsidiary of S&P Global Inc.The MSCI All Country World Index (ACWI) is a global equity benchmark covering developed and emerging markets.The MSCI World Index is a developed-markets equity benchmark that excludes emerging markets.Agentic AI is artificial intelligence that can plan, take multi‑step actions and perform tasks autonomously within workflows.Broadly syndicated loans (BSLs) are corporate loans arranged by banks and sold to multiple institutional investors.Direct lending is private lending directly to companies, often those backed by private equity sponsors.Enterprise value (EV) is a company’s total value, including equity and net debt.Free cash flow (FCF) is the cash a company generates after capital expenditures that is available for dividends, buybacks, or reinvestment.Initial public offering (IPO) is the first sale of a company’s shares to the public on a stock exchange.K-shaped recovery is an economic pattern where higher earners experience stronger growth while lower earners face weaker outcomes.Market capitalization is the total value of a company’s outstanding shares, calculated as share price multiplied by shares outstanding.Net profit margin is a measure of profitability calculated by dividing net income by revenue.Payment-in-kind (PIK) interest is interest paid using additional debt rather than cash.Quality investing is an investment approach focused on companies with durable earnings, strong balance sheets, high returns on invested capital, and stable free cash flow.Return on invested capital (ROIC) is a measure of how efficiently a company generates profits from the capital it uses.Stablecoins are crypto assets designed to maintain a stable value relative to a ...
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    47 m
  • Bubble or a New Cycle? Surging Small Caps, Red Hot Venture Markets and the Evolving Winners of AI

    Bubble or a New Cycle? Surging Small Caps, Red Hot Venture Markets and the Evolving Winners of AI
    Jan 27 2026
    In our latest episode, Sid Ahl and Paul Chew discuss the early‑2026 investment backdrop—from U.S. economic momentum and Fed independence to market concentration, AI, and portfolio positioning.The conversation spans the surprising strength of recent U.S. economic data, the implications of elevated market concentration and passive flows, and how investors can think about fixed income positioning when credit spreads are tight. Sid and Paul also explore gold’s role in portfolios, what’s changing in private markets (including late‑stage venture and private credit, such as BDT MSD), and where they see diversification opportunities in 2026—such as Japan, selective international exposure and small caps.Highlights:· Why early‑2026 economic resilience and signs of life in housing matter for rates, risk assets and portfolio diversification.· Fed independence in focus: how political pressure could translate into market outcomes—and why the timing may be uncertain.· Fixed income positioning when credit spreads are tight: the case for mandate flexibility and the evolving role of duration.· Gold as a hedge and diversifier: balancing long‑cycle behavior with today’s valuation and mining‑supply dynamics.· Benchmark concentration and passive flows: what they mean for diversification, manager evaluation and portfolio risk.· Public and private opportunity sets for 2026: AI’s next phase, software differentiation, Japan, small caps, and selective private credit (including BDT MSD).-----Disclosures The views and opinions expressed in this podcast are those of the speakers and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell or hold any securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. To the extent specific securities are mentioned, they have been selected by the speakers on an objective basis to illustrate views expressed in the podcast and do not represent all the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy and is not a complete summary or statement of all available data. This piece is intended solely for our clients and prospective clients, is for informational purposes only and is not individually tailored for or directed to any particular client or prospective client.Alternative Investments may be available for Qualified Purchasers and Accredited Investors only.Private investments are characterized by a high degree of risk, volatility and illiquidity due, among other things, to the nature of the investments. A prospective investor should thoroughly review the Offering Materials pertaining to any investment and carefully consider whether such an investment is suitable to the investor’s financial situation and goals. Investors should have the financial ability and willingness to accept the risks and lack of liquidity that are characteristic of these types of investments. There can be no assurance that any investment objectives will be achieved, or that investors will receive a return of their capital. Accordingly, investors should only invest in private credit investments if such investors are able to withstand a total loss of their investment.The S&P 500® Index represents the large-cap segment of the U.S. equity markets and consists of approximately 500 leading companies in leading industries of the U.S. economy. S&P®, S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”), a subsidiary of S&P Global Inc.The Russell 1000® Growth Index measures the performance of the large‑ and mid‑capitalization growth segment of the U.S. equity universe. Russell® and FTSE Russell® are trademarks of the London Stock Exchange Group companies.Terms and Definitions:Artificial Intelligence (AI) refers to computer systems that can perform tasks typically requiring human intelligence, such as pattern recognition, language understanding and decision support. Capital Expenditure (Capex) refers to funds used by a company to acquire, upgrade, or maintain physical assets such as property or technology. Consumer Price Index (CPI) is a measure of inflation that tracks changes in the prices paid by consumers for a basket of goods and services. Credit Spread refers to the difference in yield between a ...
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    53 m
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