Podcasts Business Investing Capital Allocators – Inside the Institutional Investment Industry Andy Acker - Empty Rooms: Investing in Biotech at Janus Henderson (Capital Allocators, EP.274)

Andy Acker - Empty Rooms: Investing in Biotech at Janus Henderson (Capital Allocators, EP.274)

Published: Oct. 6, 2022, 8 a.m.

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On today\\u2019s show we\\u2019ll discuss another empty room \\u2013 an opportunity ignored by most investors because they either don\\u2019t want to or can\\u2019t participate.

Andy Acker is a Portfolio Manager at our anchor sponsor, Janus Henderson Investors, where he manages the firm\\u2019s healthcare strategies. Janus Henderson is a global asset manager with $300B in assets under management, and Andy oversees the firm\\u2019s Global Life Sciences strategy and its Biotechnology strategy. Biotech stocks have been crushed despite significant advances in drug development, making it a proverbial empty room with only specialists and contrarians left standing.

Our conversation starts with Andy\\u2019s path to becoming a healthcare investor, scientific innovation over his time at Janus Henderson, translation of science into commercial success for businesses, and the 90/90 rule for how stocks behave. We then turn to his investment process across filtering ideas, research, assessment of management teams and commercial success, portfolio construction, trading around names, and private crossover investing. We close with Andy\\u2019s perspective on opportunities and risks to the space from here, and green shoots he sees that might fill seats in the empty room.

For full show notes, visit the episode webpage here.\\xa0
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