Making concrete sexy: why GCP Applied Technologies is part of our portfolio

Chad Slater

A lot of the blogs and links we post focus on the macroeconomic angle as, we're told, readers have the most interest in those stories. Yet the reality of our weekly life is that looking at stock stories and understanding why we should want to own those businesses account for most of the teams research effort at Morphic. This week we take readers through the intriguing (and that's not sarcastic) world of concrete additives and sealants and why this little company based out of Boston in the USA has been a good investment, thanks to passive investors. (VIEW LINK)


Chad Slater

Chad co-founded Morphic Asset Management in 2012. As a stock picker Chad is also a generalist but has strong regional knowledge of Europe and the Americas. He has also been awarded the CFA Charter.

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James Marlay

Interesting read, how much of your decision to buy shares was based on the behaviour of passive funds? I.E. Did you see this coming?

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Chad Slater

Hi James - the short answer is no, we didn't see it coming. A friend who was close to the situation, called us in early February when the stock was around $17 and spoke about it. We then had to analyse the IPO docs to make sure we were comfortable with owning shares in the business, which takes time, hence why our entry isn't immediate on the chart in the blog. But going forward we have set-up alerts to look for more situations like this as they unfold globally, but at the end of the day we also need to be comfortable owning and liking the stock.

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