WEBVTT 1 00:00:00.380 --> 00:00:02.600 My name is David Suprose, 2 00:00:02.600 --> 00:00:06.620 I'm an equity research analyst at Alliance Bernstein. 3 00:00:06.620 --> 00:00:09.650 line:15% So what I do is analyze publicly traded companies, 4 00:00:09.650 --> 00:00:12.950 line:15% I help manage a portfolio of publicly traded companies 5 00:00:14.000 --> 00:00:18.200 line:15% on behalf of both institutional and individual investors. 6 00:00:18.200 --> 00:00:20.230 line:15% My job is to look at financial data 7 00:00:20.230 --> 00:00:22.550 line:15% and determine the value of companies, 8 00:00:22.550 --> 00:00:24.460 line:15% invest in undervalued companies 9 00:00:24.460 --> 00:00:27.180 line:15% or companies with very good growth prospects. 10 00:00:27.180 --> 00:00:28.470 I've focused in healthcare, 11 00:00:28.470 --> 00:00:30.730 so I'm a healthcare equity analyst. 12 00:00:30.730 --> 00:00:33.880 Every day we hear about healthcare and healthcare costs 13 00:00:33.880 --> 00:00:37.830 and a lot of my investment and my investment process 14 00:00:37.830 --> 00:00:42.163 has to figure that into the companies that we invest in 15 00:00:42.163 --> 00:00:44.500 so when we think about future growth 16 00:00:44.500 --> 00:00:47.940 or future prospects we wanna understand the risks 17 00:00:47.940 --> 00:00:49.930 that are associated with that as well. 18 00:00:49.930 --> 00:00:51.320 line:15% One of the companies that we invest in is 19 00:00:51.320 --> 00:00:52.573 line:15% an animal health company. 20 00:00:53.657 --> 00:00:57.240 line:15% So they make medicines for pets as well as livestock. 21 00:00:57.240 --> 00:01:00.120 line:15% It's an interesting niche 22 00:01:00.120 --> 00:01:02.790 inside of the broader healthcare spectrum. 23 00:01:02.790 --> 00:01:04.840 Going back to what I had said earlier about 24 00:01:04.840 --> 00:01:05.910 healthcare in the united states, 25 00:01:05.910 --> 00:01:07.150 this is animal healthcare, 26 00:01:07.150 --> 00:01:11.130 so people are more willing to spend on their pets 27 00:01:11.130 --> 00:01:13.640 maybe even more so than themselves. 28 00:01:13.640 --> 00:01:17.770 So it's an interesting story, very innovative company. 29 00:01:17.770 --> 00:01:20.526 So their bringing medicines that really help 30 00:01:20.526 --> 00:01:23.210 peoples cats and dogs, 31 00:01:23.210 --> 00:01:26.760 and really help people who are producing livestock 32 00:01:26.760 --> 00:01:28.530 in a more efficient way. 33 00:01:28.530 --> 00:01:31.860 We like to gauge companies that are able to provide 34 00:01:31.860 --> 00:01:35.690 a investment return of 15% a year. 35 00:01:35.690 --> 00:01:39.100 So that's the hurdle that we put on ourselves. 36 00:01:39.100 --> 00:01:44.100 line:15% Obviously in down markets 15% may be really hard to get, 37 00:01:44.650 --> 00:01:48.150 line:15% up markets 15% might not be as high of a hurdle 38 00:01:48.150 --> 00:01:49.560 as we'd like to have. 39 00:01:49.560 --> 00:01:53.370 My process specifically is long term oriented. 40 00:01:53.370 --> 00:01:54.900 That is not necessarily the case 41 00:01:54.900 --> 00:01:57.080 with all investors obviously. 42 00:01:57.080 --> 00:02:00.590 But we want a portfolio, a concentrated portfolio 43 00:02:00.590 --> 00:02:04.210 of growth stocks that we expect to hold 44 00:02:04.210 --> 00:02:06.750 for at least three years. 45 00:02:06.750 --> 00:02:08.390 The hours can be flexible, 46 00:02:08.390 --> 00:02:12.360 but that said I'm generally in around 7:30, 47 00:02:12.360 --> 00:02:14.350 leave around six. 48 00:02:14.350 --> 00:02:17.530 line:15% It is an office job, I'm in the office most of the day. 49 00:02:17.530 --> 00:02:19.430 line:15% I do get to travel a fair amount. 50 00:02:19.430 --> 00:02:21.240 line:15% That's visiting companies, 51 00:02:21.240 --> 00:02:23.310 line:15% visiting anything around companies, 52 00:02:23.310 --> 00:02:25.770 so healthcare I talk to a lot of doctors, 53 00:02:25.770 --> 00:02:27.600 go to some doctors conferences. 54 00:02:27.600 --> 00:02:28.690 That's a nice part of my job, 55 00:02:28.690 --> 00:02:31.023 so I do get to travel a fair bit.