“I go back to 1987,” John Rogers told Semafor’s Liz Hoffman at the World Economy Summit this year. “The stock market down 22% in one day… that was just a horrific experience. It has a lot of similarities where you feel the fear wherever you go… people are talking about the markets, telling you they’re getting out.”
But Rogers isn’t one to panic. With lots of experience his investing compass remains steady. “There’s one investment, my favorite stock, that I think will do well in any kind of economy: Madison Square Garden Entertainment… the stadium is full and people were excited to be there… I think they will do well. The Knicks and Rangers are winning. It won’t matter what the economy is doing.”
At Ariel Investments, Rogers has long emphasized investing with purpose, and he made clear that hasn’t changed. “Our values are still the same and we believe it’s good for shareholders to think about these things in the right way.” He elaborated, “We help the small and mid-size companies that we invest in to make sure they’re ahead of the curve so they won’t get nasty surprises that could impact their balance sheet.”
On diversity, Rogers says. “We are well known… for pushing for diversity in management and diversity on boards… when you’re searching everywhere for great ideas and getting different people to come in with different perspectives, you make better decisions.” In classic Rogers form, he drew from baseball: “Reverend Jackson often talks about how baseball became a better sport when Jackie Robinson started to play… they were talented in 1940… but they didn’t have a chance to get on the playing field.”
When it comes to companies resisting progress, Rogers says: “I tell the companies we invest in, if you look like a 1940s company in the 21st century, it’s hard for us to invest with you.”
Still, Rogers has faith in America’s foundation, including its underappreciated assets. “Think about all of our assets—whether it’s our Grand Canyon or the White House… the value of those assets have grown and compounded over the years.”
Whether it’s stocks, values, or America itself, Rogers’ message is clear-there are opportunities if you’re willing to look past the obvious.
You can watch the entire discussion here:
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