Oghenerukevwe Jennifer Odjugo, Equity Analyst of 5 years at our partner Schroders has been making a huge impression on Career Connect, so much so we had to reach out for a glimpse into her world and mentoring philosophy.
I spend my time analysing companies in tech, payments, gold mining, small banks, education, and industrials to find the ones the market’s sleeping on and the ones with the biggest long-term value potential, so we can back the winners for our clients.
Every day involves a lot of reading and thinking. I read about the company I’m focusing on at the moment and think about what all the information I’ve gathered tells me about its growth potential, while also keeping up with what’s happening in the other companies I cover to work out if there’s anything that might change my view of their long-term outlook.
Meeting some of the smartest people in their fields, and asking them questions that help me understand their world. I love spending my days reading about businesses, speaking with experts and management teams, and meeting all sorts of interesting people to answer 2 big questions: how much value can this business create in the long run, and is this the right price to buy it? I also get to debate my findings with my brilliant team, which makes the whole process even more rewarding.
52%! That’s how often a “smart” investor picks the right company at the right time. All those long days spent reading, analysing, thinking and financial modelling gets you to basically a coin toss with a slight edge.
In school, 52% is barely a pass. In investing, 52% makes you a genius! Which says a lot about how ridiculous the job is.
Why is it so hard to be right? Because we’re trying to do the impossible: predict the future. And no one, not even the “Oracle of Omaha” (that’s Warren Buffett btw), can do that with high certainty. So, we have to embrace being wrong. As someone who is an overachiever, I have to constantly remind myself of this fact. Everyone in this industry is constantly grappling with this uncomfortable truth. We win some, we lose some, and occasionally, we lose “bigly” (that’s a US president reference)! But if you stay disciplined, the wins should offset the losses.
It’s a great challenge. It keeps us humble.
Understanding the fundamentals of what makes a good business last. These fundamentals can be quantitative and qualitative.
Curiosity, patience, discipline, and awareness of your biases are also important. You should also know how to build rapport with people and ask good questions that help you do the 1st thing.
Would be great to know how to use excel, but we all google formulas every now and then. And now with ChatGPT and other GenAI, it’s a lot easier to get answer!
I know firsthand that as an outsider, it can be difficult to fully appreciate the breadth of roles and opportunities available in this industry. I believe a single conversation can go a long way to demystify the work we do. I’m here to have that conversation
My story starts with the love of math. This love of math led me to study Accounting in university. But by my penultimate year, I realised that Accounting was a bit too dull a way to express my love of math. So, I decided to explore the world of finance. I pursued a Master’s degree in Finance and Investment in the UK and during this degree, I applied for a program called 100 Black Interns (now called 10,000 Black Interns) which aimed to help young Black people in the UK to get jobs in Finance. I landed an internship with Schroders Personal Wealth and one thing led to another and I ended up on the Investment Graduate Trainee program at Schroders in London and later moved to Australia to join our Australian Equities team.
I’d apply for more internships and work experience programmes. These opportunities are a great way to sample what’s available and figure out your interests.
I signed up because I am passionate about helping young people appreciate and understand the world of investing. I know firsthand that as an outsider, it can be difficult to fully appreciate the breadth of roles and opportunities available in this industry. I believe a single conversation can go a long way to demystify the work we do. I’m here to have that conversation, show aspiring investors from all backgrounds that there’s a place for them here, and make the industry feel more accessible and welcoming.
The Art of Spending Money by Morgan Housel. All Morgan Housel’s books are great reads.
I’m currently enjoying Adekunle Gold’s latest album called ‘Fuji’.
Also, on the playlist are 2 of Ayra Starr’s most recent songs ‘Who’s Dat Girl’ and ‘Hot Body’. The playlist also has some Hip Hop: Cardi B’s ‘Am I the Drama’ and Kendrick Lamar’s ‘GNX’ are constantly in rotation. Finally, Beyonce is constant feature on the playlist: the albums ‘Cowboy Carter’, ‘Renaissance’, ‘Homecoming: The Live Album’ are regulars!
Society’s constant search for an equilibrium
3 key areas where I see this currently manifesting is the shift from individualism to communalism, the move from formal education/university to trades, and the move from online to offline/live events.
Ancient civilisation was highly communal. Over time, as cities began to form and people pursued personal wealth, we became more and more individualistic. Now, people feel more alone than ever and we’re starting to see more people yearn for communal structures. We want to know our neighbours again and build strong relationships in our immediate communities.
Half a century ago, less than 10% of the world had university degrees. Having a university degree was virtually a guaranteed ticket to a middle-class life. Demand for people with university degrees was much higher than the supply of people with university degrees. So unsurprisingly, parents encouraged their children to pursue university degrees. 50 years later, almost half the population in developed countries have university degrees but the demand for people with university degrees has not increased to match the supply of university graduates. Now, society is swinging the other way, with the common wisdom now being to go back to the trades.
More recently, a decade and half ago, social media emerged as a new way to connect with people near and far. We all felt we HAD to get on social media. Now that most of us are on there, we realised we may be losing vital human connection that we can only get in real life. Now, live events and in person engagements are the rave and are getting more expensive.
Society is leaning towards community building, work that does not require a university degree, live events and other opportunities for in-person social interactions. There are no doubt investment opportunities along these lines. But also, I find society’s continuous search for an equilibrium endlessly fascinating to observe.
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In school, 52% is barely a pass. In investing, 52% makes you a genius!