-Life as an Equity Portfolio Manager-
The world of finance has been known to elicit a myriad of emotional reactions. To some, it can provoke feelings of elation and thrill while others teeter more on the side of confusion, angst or tension.
The mere dynamics of how it operates plays into much of this emotional reaction. Its ability to produce involuntary reactions surely comes from some of the intrinsic elements embedded within the financial sector.
Think: speed of transactions, complexities in evaluating and understanding options or even the consequences of said actions.
Not to mention, the industry has a certain penchant for constantly reinventing itself to reflect modern economic values, ideals and theory.
All of this adds up to the notion of finance being a highly charged construct.
The role and profession of those who immerse themselves into it all has arguably evolved to the point that a high degree of sophistication is required as far as know-how and general knowledge.
On this episode, we have a guest who has been passionately operating and providing service within the financial sector for years. His insights as to what it is, will be and could be will undoubtedly hold interest for those looking to better understand the industry and work associated with it.
Introducing
Marc Sheard is an Equity Portfolio Manager at Vancity Investment Management (VCIM), an asset management firm owned by Vancity Credit Union, the largest credit union in Canada with $33 billion plus in assets under administration and known for its focus on socially responsible investing.
It was also the first Canadian asset manager to sign on to the UN Principles for Responsible Investing.
Professional Background
Marc joined Vancity in April 2021 and was brought in to lead the Equity team, which manages three different public equity portfolios, including a Global, Canadian and Income Focused fund.
Marc has been in the financial industry for more than 15 years and previously spent over eight years at British Columbia Investment Management Corporation, which is the pension fund for British Columbia.
Formative Experiences
Marc has been passionate about investing since he was a teenager. He was always fascinated with the stock market and enjoyed reading about successful entrepreneurs and would often spend hours researching companies and the management teams that built them.
But he didn’t go directly into Finance after school. Marc spent some time traveling the world and giving his time to ecologically based volunteer work.
However, this is not to say that his passion for investing dissipated. It was rather the opposite. His life experiences crystallized his desire to finally take the plunge and find a job in the world of finance.
This career journey started in Toronto, Canada but eventually lead him to Victoria, BC on Vancouver Island.
Purposeful Execution
His current role as an equity portfolio manager at VCIM is his most exciting, however, as he has been able to marry his values with his passion as Vancity’s investments are all socially responsible with a focus on both delivering competitive returns for clients and making a positive impact on the world.
Reasons to Listen
The conversation is filled with insight from start to finish. Further, it has that rare quality of being able to satisfy both those with interest in finance and those who are still developing their own awareness and knowledge in this field. Listeners can expect to hear insights on the following:
- A deconstruction of industry stereotypes such as the “lone wolf investor”
- The value of strong analyst teams at a firm
- What an “ego coach” is and why some equity portfolio managers utilize such services
- The danger of commitment bias in investing and how to combat it
- How Marc’s early life experiences travelling the world helped shape his current worldview and in effect better prepare him for a career in finance
- Why those with interests or educational backgrounds in social sciences can become some of the very best investors
- A quick explainer on the UN Principles for Responsible Investing and why they matter
- What socially responsible investing is and how Marc and his firm operate with such values interwoven into the fabric of their organization
- How the finance industry is wonderfully rich with opportunity for those with a deep sense of curiosity and appreciation for learning
- How an equity portfolio manager often manages their own emotional investments in the work they do
- Learn about the cardinal sin of investing
- The future of the industry from the viewpoint of tech and AI integrating itself into the financial ecosystem
- + Much more!
This talk does not lack for insight nor actionable tips for those inside or outside the world of finance.
A Memorable Quote from the Episode:
We won’t necessarily be just reading financial statements of companies. Of course we spend a lot of time doing that. We’ll be reading books across different disciplines. Again, some of the best investors I’ve talked to, their background isn’t even in finance. Their undergrad and graduate degrees were in social sciences. Because of that, they have a much more holistic view of the world.”
-Marc Sheard
Check out the Video Conversation:
For those who desire to view the full video conversation of this discussion, you can do so via Youtube.
Words of Wisdom:
Hear from Marc as he gives advice to those looking to enter the world of finance.
Fact Check:
**In the episode it is noted that Vancity Investment Management (VCIM) is one of the largest credit unions on the West Coast of Canada. In fact, it is the largest credit union in Canada with $33 billion plus in assets under administration.
Discover More
For those interested in learning more about Marc and his work, you can find out more about him via his company and through the following social platform:
Keep Listening!
I hope you enjoyed the episode. For more, check out additional episodes here!
