What does it take to find value before others do?

Value investing is often described as buying what the market has mispriced. But in practice, it’s also about patience, conviction, and the willingness to look beyond the usual patterns of recognition. That same discipline can apply not only to companies, but also to investment managers and talent.

Host Willis Wilson is joined by John W. Rogers Jr., Chairman and Co-CEO of Ariel Investments, and Jasmine N. Richards, Head of Diverse Manager Investing at Cambridge Associates.

Together, they discuss what value investing looks like in practice, why patience and conviction still matter, and how investors and allocators can recognize quality even when it falls outside the usual patterns. They also explore the importance of broadening access, developing talent early, and building the kind of judgment that leads to better long-term outcomes.

This podcast episode covers:

Why patience, conviction, and independent thinking matter in volatile or consensus-driven markets
What investors and allocators can miss when they rely too heavily on familiarity, pedigree, or conventional frameworks
How early exposure, financial literacy, and talent development can shape the future of the investment industry

Cambridge Conversations is developed in partnership with PRX, an award-winning podcast media company.

Cambridge Associates is a global investment firm that works with endowments, foundations, healthcare systems, pension plans, and private clients to implement and manage custom investment portfolios that aim to generate outperformance and maximize their impact on the world. Cambridge Associates delivers a range of portfolio management services, including outsourced CIO, non-discretionary portfolio management, staff extension, and asset class mandates.

Finding Value Early: Investing, Manager Selection, and the Discipline of Recognition

Cambridge Conversations

Finding Value Early: Investing, Manager Selection, and the Discipline of Recognition