To Kate Moore, there’s nothing more important for an investor than keeping an open mind.
Now the chief equity strategist at BlackRock, which oversees $US5.4 trillion, Moore has used this as a guiding principle throughout her career — whether that meant figuring out the next move in her career, or making an investment decision.
In an interview with Business Insider, Moore talked about the low-volatility environment, the red-hot tech sector, financial stocks, and the importance of companies embracing new technology. She also discussed her most important advice for anyone starting a career in investment management.
Here’s what Moore had to say (emphasis ours):
The number one thing that’s contributed to my career and professional development has been flexibility, both in terms of career decisions and my investment process.
The industry has changed very dramatically during the time I’ve been in it, and it feels like the pace of change is only increasing. For young people in the business, I’d avoid trying to over-architect your career path. Some of the best career opportunities come when there are moments of change. And professional growth occurs when you’re willing to pivot. Being well-rounded and flexible about job opportunities is very important.
In terms of my investment process, it’s changed a lot throughout my career. You have to be willing to incorporate new information and data sources and understand that the way you analyse things will have to change over time. It’s also critical to acknowledge when you’re wrong, whether that’s changing your view, closing your position, or adopting a new approach. Be flexible. Don’t consistently try to analyse investment opportunities the same way.
I also try to be a sponge and absorb information about everything, even things outside the world of investment. The best investors are those that have a great understanding of history and behaviour. You really need to understand what makes people tick.