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Debunking the myth that a good track record is enough to attract investors for a fund.
TRANSCRIPT
I was down 29% after three months. Like I started July 1st and then the market crashed in September. Right. And so I was like, wow, my dream of starting a hedge fund is done after three months.
And I just kind of grinded it out and caught 09 correctly. And, but even then I, you know, I didn't get my first client, first outside investor until
... See moreThe reason for the extreme concentration is the second striking feature of Shannon’s portfolio: He didn’t trim positions. Shannon simply remained invested in each as they grew. This allowed Motorola to compound his initial investment 57 times. Teledyne, his largest investment, grew an incredible 194 times. Hewlett-Packard, his second-largest
... See moreAllen C. Benello • Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors
Perhaps the most successful disciple of the Graham and Dodd approach was a canny midwesterner named Warren Buffett, often called “the sage of Omaha.” Buffett compiled a legendary investment record, allegedly following the approach of the firm-foundation theory.