At the Quality-Growth Investor Conference on October 1, 2024, James Anderson, Managing Partner and CIO of Lingotto Innovation Strategy, shared his perspective on what he believes is key to successful investing. Having spent over three decades at Baillie Gifford and leading its flagship fund, the Scottish Mortgage Investment Trust, Anderson is renowned as one of Europe’s most successful investors.
The Power of Market Concentration
Anderson’s core message was clear: the stock market’s value creation has historically been concentrated in a small number of companies. He revealed that since 1995, only 70 companies have accounted for almost all the value creation in global equity markets, and this concentration is becoming even more pronounced over time.
Finding and Sticking with the Biggest...
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