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Hi, and welcome to the Longview. I'm Jeff Battak, Global Director of Manager Research for Morning Star Research

Services. And I'm Christine Ben's Director of Personal Finance for Morningstar, Inc.

Our guest on the podcast today is Rupal Bonsali, chief investment officer and portfolio

manager of Ariel's International and Global Equity Strategies. She manages Ariel International and

Ariel Global and also oversees

Ariel's global equities research team. Rupil is nearly three decades worth of experience.

Prior to joining Ariel, she managed international equity portfolios and served in leadership

positions at McKay Shields and Oppenheimer Capital. She also has experience in the hedge fund world, including a stint at Soros Fund Management.

Rupel, thanks so much for being here and welcome to the Longview.

Happy to be here.

So maybe for starters, just so we have a foundation for the conversation, many of our listeners will be familiar with you, but not all of them.

It might be helpful to get a very concise description of your investment philosophy, how it is you actually run money for the clients that you serve. Can you give a quick description of how that works?

Sure. We are non-consensus investors, which means that we always believe in doing original differentiated research

to underpin our investment thesis, because in this profession of investing, being correct,

but consensus is not the way to get any payoff. That's already in the price. So that underpins everything

that we do. We must have a non-consensus point of view. That also means that our portfolios tend to be rather eclectic.

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