In this episode, Advent Managing Partner David Mussafer discusses how he has kept his pandemic investing strategy focused on the long-term, learning the difference between a great company and a great investment, and why a management team is key to successful investing.
On his investment approach amid the pandemic: “What we've tried to do is think about investments in a slightly different framework. We've stepped back and said, ‘We're going to look for businesses that we believe can be long-term winners, that we have the capital structure in place to make sure that irrespective of the shocks that may occur.’”
On becoming a great investor: “One of the things that I think you see from some of the young pros that are really on the fast track and doing a great job in our business is that early in their careers they begin to learn the difference between a great company and a great investment. And so, early on it's hard for people to disseminate that difference… That is what I think the great young pros really quickly in their career begin to build some of those skills and muscles to help you, at the investment committee, see through their eyes why something is a great investment, not just a great company.”