Following their fund manager conversation with Ben Peters of Evenlode, George Ladds is joined by David Ridland for a reflective post-meeting discussion, drawing out the deeper themes behind quality investing, judgement, and long-term conviction.

The conversation explores the idea of investing as both an art and a science, touching on vocation, experience, and the role of “gut feel” shaped by years of disciplined analysis. George and David discuss how good investment decisions are rarely about the loudest voice in the room, but about robust process, healthy challenge, and a culture that prioritises sound judgement over short-term noise.

They also reflect on the realities of performance cycles, the behavioural pressures faced by long-term investors, and why clear communication and alignment with like-minded clients matter just as much as returns. Drawing parallels between Castlebay’s own philosophy and Evenlode’s approach, the discussion reinforces the importance of patience, compounding, and holding quality businesses through periods when markets and fundamentals diverge.

A thoughtful, honest conversation on staying the course, building resilient portfolios, and why some of the most compelling opportunities often appear when conviction is hardest to maintain.