In an episode of The Zurich Project Podcast, presented by MOI Global, Felix Narhi discusses the investment strategy implications of an acceleration in the pace of technological change.
One of Felix’s favorite quotes is by William Gibson: “The future is already here — it’s just not evenly distributed.” History has shown that technological disruption is not new. However, the pace of technological change is accelerating. The time between the early adopters (“the future is already here”) and when the masses arrive in force (“evenly distributed”) is shrinking. COVID-19 has hyper-accelerated this structural megatrend. In Felix’s latest commentary, he quotes Vladimir Lenin: “There are decades when nothing happens; and there are weeks when decades happen.” This acceleration has potentially significant implications for investment strategy.
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About the featured guest:
Felix Narhi is the Chief Investment Officer of Pender and the Portfolio Manager of the Pender US All Cap Equity Fund and the Pender Strategic Growth and Income Fund, and Co-Manager of the Pender Value Fund. Prior to joining Pender in July 2013, Mr. Narhi spent over nine years at an independent and value-oriented investment firm in Vancouver. Mr. Narhi holds a Bachelor of Commerce degree from the University of British Columbia. He earned his Chartered Financial Analyst (CFA) designation in 2003 and is a member of CFA Vancouver. Mr. Narhi advocates a business-like approach to investing. Sound investing is the process of determining the value underlying a security and then buying it at a considerable discount to that value. The greatest challenge is to maintain the necessary balance between patience, emotional fortitude and discipline to only buy when prices are attractive and to sell when they are dear, while avoiding the short-term “noise” that consumes most market participants.