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March 15, 2022 | The Sherman Show

S12 E4: Women in Investment Management, the Brussel Sprout Utility Sector and Fallen-Angel Bailouts

DoubleLine’s Jeffrey Sherman and Sam Lau welcome Ellen Carr, principal and high yield portfolio manager at majority-women-owned Barksdale Investment Management and adjunct professor of finance at Columbia Business School, to discuss her book on the lack of women in investment management as well as her take on the state of high yield credit. Ms. Carr shares what drove her to coauthoring “Undiversified: The Big Gender Short in Investment Management” with Katrina Dudley (a PM at Franklin Templeton) and what they hope to achieve with the book (2:27). Ms. Carr delves into some of the factors that push women away from a lucrative financial career that offers a nice work-life balance. Among the topics she discusses are how families might inadvertently communicate to children at a very young age that investing is the purview of men (10:21), widening the on-ramp for women at the undergrad and MBA level (14:56), the psychocultural barriers that can keep women from advancing after being hired (21:00) and how employers can cast a wider net (28:57). The trio also reviews the high yield credit sector, with Ms. Carr talking about the lack of public outrage over the pandemic-driven government stimulus that effectively bailed out high yield investors versus the outcry over banker bailouts in 2008 (38:01) and how pandemic-era pressures helped clean up the sector (40:20). This episode was recorded March 15, 2022.

About the Hosts

About the Hosts

  • Jeffrey Sherman, CFA

    Jeffrey Sherman, CFA

    As DoubleLine’s Deputy Chief Investment Officer, Jeffrey Sherman oversees and administers DoubleLine’s Investment Management sub-committee coordinating and implementing policies and processes across the investment teams. He also serves as lead portfolio manager for multi-sector and derivative-based strategies. Mr. Sherman is a member of DoubleLine’s Executive Management and Fixed Income Asset Allocation Committees. He can be heard regularly on his podcast “The Sherman Show” (Twitter @ShermanShowPod, ShermanShow@Doubleline.com) where he interviews distinguished guests, giving listeners insight into DoubleLine’s current views. In 2018, Money Management Executive named Jeffrey Sherman as one of “10 Fund Managers to Watch” in its yearly special report. Prior to joining DoubleLine in 2009, Mr. Sherman was a Senior Vice President at TCW where he worked as a portfolio manager and quantitative analyst focused on fixed income and real-asset portfolios. He was a statistics and mathematics instructor at both the University of the Pacific and Florida State University. Mr. Sherman taught Quantitative Methods for Level I candidates in the CFA LA/USC Review Program for many years. He holds a B.S. in Applied Mathematics from the University of the Pacific and an M.S. in Financial Engineering from the Claremont Graduate University. Mr. Sherman is a CFA® charterholder.

  • Samuel Lau

    Macro-Asset Allocation

    Samuel Lau

    Macro-Asset Allocation

    Mr. Lau joined DoubleLine in 2009. He is a Strategist on the Fixed Income Asset Allocation (FIAA) Committee and a contributing member on the Global Asset Allocation and Macro committees. Mr. Lau is a Portfolio Manager on DoubleLine’s strategic commodity strategy while working in portfolio management and trading for derivatives-based and multi-asset strategies, including DoubleLine's Shiller Enhanced CAPE®, Shiller Enhanced International CAPE®, Real Estate and Income, and Multi-Asset Trend strategies. He also co-hosts the Sherman Show (Twitter @ShermanShowPod, ShermanShow@Doubleline.com) and Monday Morning Minutes (Twitter @DLineMinutes, Minutes@Doubleline.com) podcasts. Prior to DoubleLine, Mr. Lau was a Vice President at TCW where he worked under Jeffrey Gundlach as a Research Analyst in the Mortgage Group. He holds a B.S. from the University of Wisconsin, Madison and an MBA from the Marshall School of Business at the University of Southern California.