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In Episode 116, we welcome entrepreneur, CEO, and fund manager, Sarah Ketterer. Meb dives right in, asking about a quote on Causeway\u2019s website which references how the shop blends fundamental and quant analysis. Sarah gives us her approach, which details how the fundamental and quant approaches work together, supporting one another.\nMeb pushes for more details. What\u2019s Causeway\u2019s actual process? Does it begin with a quant screen then an analyst takes over, or the other way around?\nSarah tells us it depends on the client. She provides more details, but her feelings about the importance of a quant approach really comes through when she tells us \u201cwithout a quant risk model, I\u2019d argue an investment manager is completely blind\u201d.\nNext, Meb brings up value, and asks what role it plays in Sarah\u2019s approach, and how she sees value today.\nSarah tell us that every strategy Causeway manages has a value emphasis to some degree. The more fundamental, the heavier the value exposure. And the quant-focused funds also have value, but those use momentum as well. This dovetails into a discussion of how not all clients want to sit through deep value cycles. They want returns now, not on a rolling 3-5-year basis. But a great value manager has to think in that time frame. Sarah notes how investors have to be patient with a value approach, yet human nature is not inherently patient.\nThis bleeds into a discussion of cheap countries and career risk, and the gap between value and growth \u2013 Sarah tells us this gap has reached extreme levels. Meb asks about the opportunities she\u2019s seeing. Sarah notes how the opportunities depend on the amount of risk you want to take. For instance, she can find you a good Turkish bank right now, but do you want that level of risk exposure?\nThere\u2019s way more in this episode \u2013 some opportunistic finds in Britain\u2026 Why Sarah is \u201cwildly bullish\u201d on China\u2026 Sarah\u2019s view on the biggest mistakes investors make regarding risk\u2026 And, of course, her most memorable trade.\nAll this and more in Episode 116.\nLearn more about your ad choices. Visit megaphone.fm/adchoices