Navigating a stock market crisis

In a "Short Briefings on Long Term Thinking" podcast episode, Malcolm Borthwick interviews Scott Nisbet from Baillie Gifford about navigating turbulent times for investors. Nisbet compares the current crisis to past events like the 1998 Asian and Russian debt crisis, the 2001 tech bubble, and the 2008 global financial crisis, emphasizing that each crisis is different on personal, firm, and event levels. He stresses the importance of providing direction to staff during crises, focusing on balance sheets, and combating negativity by concentrating on the upside potential of companies. Nisbet also shares personal strategies for staying calm, such as engaging in sports and reading literature, particularly recommending Albert Camus' "The Plague" for its insights into human behavior during crises. He highlights how Baillie Gifford's investments in companies like Zoom, Peloton, Amazon, and Netflix are well-positioned to benefit from changing behaviors and increased online activity and addresses client concerns about the firm's stability, portfolio performance, and liquidity, reassuring them of Baillie Gifford's ability to manage risks and provide cash when needed.