Group 1 - Symbotic's third quarter results were weak, particularly in system starts and completions, following the acquisition of ASR from Walmart [1] - Narweena, an asset manager, focuses on identifying market dislocations due to misunderstandings of long-term business prospects, aiming for excess risk-adjusted returns [1] - The research process at Narweena emphasizes company and industry fundamentals to uncover unique insights, with a high risk appetite and a long-term investment horizon [1] Group 2 - Narweena targets smaller cap stocks and markets with less obvious competitive advantages, driven by the belief that an aging population and low growth will create new investment opportunities [1] - Many industries may face stagnation or secular decline, which could paradoxically enhance business performance due to reduced competition [1] - The economy is increasingly influenced by asset-light businesses, leading to a declining need for infrastructure investments and a large pool of capital pursuing limited investment opportunities [1]