Payback time

To commemorate the 200th episode of Momenta's "Digital Thread" podcast, Ken Forster and Michael Dolbec, Momenta's Managing Partner of Ventures, will be joined by special guest, Andrew Obin, a Senior Multi-Industry Analyst at BofA Securities Equity Research. During this episode the trio will delve into the topic of Andrew's Digital Machinations: Payback Time report. 

We decided to bring Andrew back for this special 200th edition of the Digital Podcast Series because episode #192, discussing his multi-industry sector coverage, was one of last year's most popular podcast series,

Since our last discussion, Andrew and his team have published one of the most bullish trends and forecast research reports we've seen in the industrial space. When coupled with similar sentiments shared by world leaders at the World Economic Forum in Davos, we thought it warranted us bringing back Andrew.

As an Industrial Software sector analyst at BofA, Andrew covers businesses such as Aspen, Carrier, Dover, Eaton, Emerson, GE, Johnson Controls, Rockwell Automation, and Trane, to mention a few. Before joining Merrill Lynch in 2002, Andrew worked at Lehman Brothers, where he followed the Aerospace and Defense sector. Andrew has consistently ranked among the top analysts, with Forbes, the Financial Times, and the Wall Street Journal recognizing the quality of his stock picking and estimates.

*BofA Securities is the marketing name for the global banking and global markets businesses of Bank of America Corporation

Discussion Points:

• (KEN) To help set the context for this report, can you tell us a bit about the Transformation World: The digital industrial world series and the Digital Machinations theme?
• (MIKE) You start with a bold statement that the "ROIC equation has fundamentally shifted". What's this shift, and what are the implications
• (KEN) As a result of this shift, you update your 'State of the union', outlining that automation demand is accelerating. How do you see this affecting the growth rates of industrial technologies and software?
• (MIKE) Let's discuss the five key trends you outlined in the report, and have you summarize each:

1. 1. US re-shoring: It really is different this time
   2. Industrial Software: turning SaaSy
   3. IT vs. OT: the rise & rise of the cloud vendors
   4. Robots: Inflation beater
   5. Supply chain: flexibility vs. efficiency

• (KEN) We heard aligned perspectives at the World Economic Forum in Davos this year, with discussions of resilience, re-shoring, and renewables tempered with discussions of trade wars and global response to the US Inflation Reduction Act. One of the day 1 session captured the sentiment well with its title: The Future of Industrial Policy. To what degree does such "industrial policy" affect your forecasts?
• (MIKE) Referring back to some of the Davos conversations, there was concern over the fragmenting global economy - creating redundancies in manufacturing and supply chains as countries seek to create more local and resilient sourcing. Do you share their concern?
• (KEN) Thank you again for joining us. Any closing thoughts?