About John Rogers
John F.W. Rogers, Executive Vice President at Goldman Sachs and Chairman of the White House Historical Association, spoke at the Enduring Places Conference in September 2024, where he discussed his long-standing commitment to architectural preservation. He noted that his interest in classical design began during the Reagan administration and included the restoration of the Old Executive Office Building and the Treasury Building. Rogers also serves as Chairman of the Atlantic Council, where he has delivered remarks at events such as the US-Africa Leaders Summit Welcome Dinner in 2022 and the Distinguished Leadership Awards in 2019 and 2021. In his capacity as CEO and Chief Investment Officer of Ariel Investments, Rogers has appeared on financial news programs to discuss value investing, describing Mattel as an "extraordinary value" and commenting on the shortage of talent and the effects of technology on small businesses. He has also spoken about the firm's history of providing emergency child care services and its efforts to promote financial literacy and diversity in the financial services industry.
Source: AI-verified profile updated from John Rogers's recent appearances.
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Transcript (8 segments)
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Interviewer0:00
All the major averages may be sitting at record highs, but you can bet investors will be nervously watching inflation data that we're getting this week. Still, our next guest says the value stocks have plenty of room to run. Joining us right now is top money manager and veteran value investor John Rogers. He's the co-CEO and chief investment officer of Ariel Investments, and by the way, the firm is celebrating the 35th anniversary of its flagship Ariel Fund. John, it's great to see you. Thanks for being here.
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John Rogers0:26
Yeah, it's great to be here. This 35 years has gone fast. It's gone fast and yet slow, I'm sure, at the same time.
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Interviewer0:39
You've always been a value investor. When you see the averages at new highs like this, is it far more difficult to find value? What do you see when you look around right now?
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John Rogers0:48
Well, it really is a tale of two markets. The broad market we think is quite expensive. The Nasdaq is quite expensive. The FANG stocks are quite expensive. There's all kinds of signs of excess out there with the IPO market and the specs. But there are pockets of opportunity and some really cheap value stocks in our sort of mid-cap specialty space, especially companies that are involved in the marketing of consumer products, companies in the media, companies in the sports arenas. There's lots of opportunity.
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Interviewer1:20
Like what? Let's talk through some names.
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John Rogers1:22
Our favorite right now is Mattel. We think Ynon has done an extraordinary job of turning that business around. Quarter after quarter, I think it's six or seven quarters in a row, he's far surpassed expectations. He's brought Barbie back to life. He's doing wonderful things with American Girl and Fisher Price and all the IP for the movies coming out next year. Mattel is an extraordinary value we think here today.
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Interviewer1:47
John, we spoke with Ynon just about a week ago, maybe a week and a half ago, when their earnings were out. One of the things we talked to him about was those movie rights that you're mentioning, because right now it's been a great time for the toy makers across the board. Parents are willing to spend far more money on their kids. You think that these are more lasting changes, right?
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John Rogers2:07
I do think they're lasting changes. I was watching and hearing the confidence coming through in Ynon's voice. Of course, we talk to him every quarter, and he has just been building confidence and giving us a sense that he thinks the stock is cheaper today than it's been any time in his tenure, which gives us a lot of enthusiasm. A lot of these neglected stocks seem to be orphaned here where people really don't care.
