In the sixth episode of Lee and the IC, Alex and Lord Lee are joined by Miles Adcock, chief executive of computing product manufacturer Concurrent Technologies.
The trio discuss the background of Concurrent, a favoured holding in Lord Lee’s portfolio, when Lord Lee began investing in it, how both he and Adcock view the company’s prospects amid current geopolitical tensions, how to navigate the unknowns of a complex stock as a private investor, and much more.
This episode was recorded on 23 February.
Timestamps
1:32 What the company does
2:48 The changes Miles has introduced since becoming CEO
4:35 Supply chain issues in the defence industry
6:58 How the rise in revenue can be explained
9:28 The concentration of Concurrent’s customer base
11:07 When Lord Lee got involved with Concurrent
14:30 What led Lord Lee to keep the faith in Concurrent after the death of Glenn Fawcett
16:03 How to navigate the unknowns of a complex stock
18:02 How Miles spells out his investment case
23:35 Have geopolitical events changed the procurement in this sector
25:44 Has defence been a focal point for Lord Lee’s investing
29:25 The tricky summer the company experienced
30:58 Where Miles’s skills lie
33:54 The principles of small companies that appeal to Lord Lee
36:04 The case for paying out dividends
37:30 How capital-constrained is Concurrent?
41:19 What is coming up for Lord Lee in the next few weeks?
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