Phil Ordway of Anabatic Investment Partners led a two-part session at Best Ideas 2020, examining (i) capital allocation and corporate governance, as well as (ii) the brokerage discount industry.
Part I: Last year’s presentation on Capital Allocation, Investor Relations, and Corporate Governance generated a great response. This update will continue on the topic and add a few lessons learned and new examples.
Part II: The discount brokerage industry is going through a period of change and consolidation. Several long-term trends are converging and the future looks interesting – or dangerous – from various perspectives. As in many industries, there are advantages to be had for low-cost operators who offer superior customer service, product breadth, and value.
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About the instructor:
Philip Ordway is Managing Principal and Portfolio Manager of Anabatic Fund, L.P. Previously, Philip was a partner at Chicago Fundamental Investment Partners (CFIP). At CFIP, which he joined in 2007, Philip was responsible for investments across the capital structure in various industries. Prior to joining CFIP, Philip was an analyst in structured corporate finance with Citigroup Global Markets, Inc. from 2002 to 2005. Philip earned his B.S. in Education & Social Policy and Economics from Northwestern University in 2002 and his M.B.A. from the Kellogg School of Management at Northwestern University in 2007, where he now serves as an Adjunct Professor in the Finance Department.
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