Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: Single best idea in a most unusual time. I really
Speaker 2: tried to read it on the eighty billion dollar equity
Speaker 2: transaction of Google. Absolutely fascinating and some of the whispers
Speaker 2: there of another time and place are noted. We started
Speaker 2: strong in that regard to Ted Mortenson, legendary it Baird
Speaker 2: on technology. Ted Mortensen on this moment.
Speaker 3: This is a war for talent, and if you really
Speaker 3: look at all these companies, it's all about engineers. I mean,
Speaker 3: at the end of the day, it's product innovation through
Speaker 3: brilliant engineers. And I think they're just stop gapping, you know,
Speaker 3: with the intensity of free cash flow on the Capex builds.
Speaker 3: They're just finding another avenue to employees.
Speaker 2: Ted Martinson on the two minute summary for you is simple.
Speaker 2: Actually it'll be the fourteen second summary. It's just simple.
Speaker 2: He's a huge optimist about this innovative moment across America.
Speaker 2: I want a joy to have Franciscannon with this legendary
Speaker 2: at the Royce Value Trust. That is small cap small
Speaker 2: caps doing much better I think than the zeitgeist and
Speaker 2: is undergood. Francis Gannon of Boston College and the Royce
Speaker 2: Value Trust.
Speaker 1: Value for us is, you know, I think value is
Speaker 1: like most things on Wall Street, is one of the
Speaker 1: most overused words on Wall Street. People can find value
Speaker 1: in a lot of different ways, just like quality, qualities
Speaker 1: and other overuse word. Everybody says they're you know, what
Speaker 1: they own his quality. You know, balance sheet is very important.
Speaker 1: We tend to focus on companies that don't need leverage
Speaker 1: or access to the capital markets, which you know, again
Speaker 1: to that idea of being able to sleep over at night,
Speaker 1: especially with a small cap company. Management teams are incredibly important,
Speaker 1: and I think of us as following small cap companies
Speaker 1: through life cycles when the founding team is managing it,
Speaker 1: when they leave it to the next generation who doesn't
Speaker 1: manage it as well when the professional manager comes back in.
Speaker 1: So we try to know these businesses incredibly well, and
Speaker 1: you know, we follow them for a long periods of time.
Speaker 2: Francis Gannon of the Royce Value Trust on podcasts, we're
Speaker 2: out at Spotify, at Apple and of course on YouTube.
Speaker 2: It's single best idea