Doing it our way now: the approach this company pioneered is becoming the market's way
The model's full reasoning — Q1 2023 call → NOWe need to determine if management describes that their way of doing things is being adopted, copied, or moved toward by others in the market, and that they treat it as validation. Scan the transcript for relevant statements. Management discusses their platform, technology investments, Evergreen products, etc. They mention partnerships with iCapital, CAIS, TIFIN. They talk about their strategic technology investments. They mention that they are a differentiator. But do they say others are following their lead? They mention that they have stakes in these platforms, and that they are unique. They say "There's nobody else that has stakes across that like we do." That's a claim of differentiation, not that others are copying. They talk about their Evergreen platform and retail flows. They mention that other private market managers have also seen softness in June and July, similar to what they heard from others. That's not about others adopting their approach. They talk about their secondary fund and retail investors. No mention of others copying. They mention that their infrastructure fund was a first-time fund, but no mention of others following. They talk about their direct credit series, etc. No statement about competitors or others adopting their methods. They mention that they are a leader in some areas, but not that others are following. Thus answer NO.
| Ticker | Company | Call | Date | Call grade |
|---|---|---|---|---|
| AES | The AES Corporation | Q1 2024 | 2024-05-03 | C+ |
| GGR | Gogoro Inc. | Q1 2023 | 2023-05-11 | D |
| TGT | Target Corporation | Q4 2022 | 2023-02-28 | C |
| ORAN | Orange SA | Q2 2018 | 2018-07-26 | B |
| USFD | US Foods Holding Corp. | Q1 2018 | 2018-05-12 | C |
| SHOO | Steven Madden, Ltd. | Q1 2017 | 2017-04-21 | C |
AES · Q1 2024 → YESThe question is: Does management describe that the WAY THIS COMPANY DOES THINGS is NOW BEING ADOPTED, COPIED, OR MOVED TOWARD BY OTHERS IN ITS MARKET, so that the company's own way of doing things is ...
GGR · Q1 2023 → YESThe question is: Does management describe that the way this company does things is now being adopted, copied, or moved toward by others in its market?
TGT · Q4 2022 → YESThe question is: Does management describe that the way this company does things is now being adopted, copied, or moved toward by others in its market?