Ravi Jain, Ph.D., CFA, is a Portfolio Manager of the Large Cap Growth Strategy at Ironwood Investment Management. Dr Jain currently serves as an associate professor of finance at the University of Massachusetts Lowell, where he teaches undergraduate and graduate courses in finance. He seeks to invest in companies that can compound their earnings through wise capital allocation, with emphasis on firms — both parents and subsidiaries — emerging from spinoffs. Preferred businesses are permanent in nature, generate a high return on capital, have the potential to reinvest earnings and have good management.  In his exclusive interview with the Wall Street Transcript, Dr Jain discusses his investment philosophy and where it takes his portfolio.