Best Fund Managers

[voyager]

If you could no longer invest and you had to pick 3 fund managers to invest all of your money with for the rest of your life, who would you pick?

[Jurgis]

Mutual funds or easily accessible funds:

 

Chuck Akre (AKREX) maybe.

Brown Capital: https://browncapital.com/products

 

Both of these could be argued to have benefited from bull market and growth outperformance.

 

Bill Ackman (PSHZF) maybe.

 

If it's for the rest of my life, I'd go with index funds.

[Gregmal]

There's Tepper, and then theres everyone else.

 

Ackman, when he's on his game, is arguably better than even Tepper. When he's off, you're probably better off setting your money on fire(possibly a tad harsh, but still reasonable assessment). Tepper's consistency is what sets him apart.

[Guest]

Norbert Lou

 

Thanks for a name, I'm definitely gonna read his letters (and maybe his blog): https://taovalue.net/letters/

 

I wonder if voyager meant mutual fund managers.

 

Is Norbert even accepting outside new money?

 

Are you sure he runs that blog?

[nspo]

Tepper, Klarman, N. Lou. I can't stand Ackman, the guy seems like an absolute D-bag. Lack of humility is a no-go for me.

[Jurgis]

Norbert Lou

 

Thanks for a name, I'm definitely gonna read his letters (and maybe his blog): https://taovalue.net/letters/

 

I wonder if voyager meant mutual fund managers.

 

Is Norbert even accepting outside new money?

 

Are you sure he runs that blog?

 

You are right, my bad.

[Jurgis]

Tepper, Klarman, N. Lou. I can't stand Ackman, the guy seems like an absolute D-bag. Lack of humility is a no-go for me.

 

AFAIK, Tepper closed his fund (although Wikipedia articles do not say this, so I'm a bit hesitant...)

Klarman is inaccessible to most people. Not sure if he even takes new clients.

 

Edit: sorry, but once you start talking about inaccessible managers, this becomes like a fantasy football. Can I pick Buffett - I'm sure he'd smoke SP500 if he managed $10M or whatever CoBF bros would give him to manage? Can I pick T&T?

[LC]

Michael Larson

[rb]

I like Tom Russo. Don't think he's taking money but I'm not sure. Burgundy is a pretty good shop out of Toronto. They take money.

 

I would have said Sequoia as well before, you know..., "the incident".

[patterson]

I like First Eagle Global (SGENX). It's a fairly conservative fund with a global value-oriented approach, and I have it as a core holding in accounts with mutual funds.

[rb]

Michael Larson

Pretty sure he isn't talking "outside money" shall we say lol.

[Jurgis]

Michael Larson

Pretty sure he isn't talking "outside money" shall we say lol.

 

But unlike others mentioned, your money might get to him if you donate to Gates Philanthropy Partners.

 

(Not 100% sure. He manages Gates foundation money, but might not manage GPP money.)

 

Edit: although that's true for some others mentioned too. Some of them manage money for various endowments/foundations/etc, so that way might be available.

[LC]

Michael Larson

Pretty sure he isn't talking "outside money" shall we say lol.

 

My second choice then would be Sanjeev.

 

Two things matter to me, when selecting a money manager: A long time frame and honest personality.

[Jurgis]

My second choice then would be Sanjeev.

 

Two things matter to me, when selecting a money manager: A long time frame and honest personality.

 

Hope you have a really long time frame then.

https://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/pdh-premier-diagnostic-health-services/msg395798/#msg395798

[LC]

PDH bombed, for sure. You make a fair point - I must have selectively expelled it from my memory  ;D

[Cevian]

Depends what life stage you're in, for me it's all about preservation of capital at this stage so:

 

1. Job Curtis

2. Anthony Deden

3. Seth Klarman (I'm glad I have an initial investment with him already but now closed to new investors)

 

The two top guys you've probably never heard of, for a reason. I avoid managers who are constantly on display. I have found to be a negative correlation between tv/video/interview exposure and performance.

[rb]

You got money in Baupost? BALLER!!

[Guest]

You got money in Baupost? BALLER!!

 

haha, this dude is killing it!

 

 

So Curtis looks like he manages a Janus mutual fund. How does one invest with Deden?

[learner]

Givenry Capital

[LC]

2. Anthony Deden

A great read if you have not done so already:

https://edelweissjournal.com/pdfs/EdelweissJournal-019.pdf

[thowed]

Thanks for the replies so far - good to hear a few new names - even if you can't invest with people, you can sometimes still learn from them.  Edelweiss looks fascinating.  Job Curtis runs a closed-end fund in the UK, which doesn't do it for me - not far from being a FTSE100 tracker.

 

Three solid retail funds:

 

Fundsmith: classic Phil Fisher quality growth stuff.

First State Asia Pacific All-Cap: hard to pick one Asia fund, but this is another good quality growth outfit.

CG Asset Management: A solid, multi-asset 'absolute return' fund, to balance stuff out.

 

Would also be more than happy with Akre and Giverny.

 

[rb]

Givenry Capital

Lol, speaking of "the incident" eh. I didn't know he started another shop.

[Spekulatius]

I think I just stick with Fidelity. LOL

[rainman]

I think I just stick with Fidelity. LOL

 

Can you recommend some Fidelity funds?

 

Thanks

[vinod1]

If you could no longer invest and you had to pick 3 fund managers to invest all of your money with for the rest of your life, who would you pick?

 

Given the two constraints (1) all you money and (2) rest of your life, hands down index funds would be the only choice.

 

Any other choice is going to be vastly inferior from a risk/reward perspective.

 

When looking at 30+ years, markets are likely to go through many changes as economy evolves. The managers you are going to select now are all going to have terrific current long term records. As they go through tough times you would be faced with a decision whether to stick with them or change. To evaluate active fund managers you need be as good at picking stocks as them to make that decision. So picking active managers means being active to some extent and it cannot be a pick and forget.

 

I have been tracking 20 mutual fund managers since 2001. It is partly to know my ability to identify superior managers and partly to invest in them as a portion of my portfolio is restricted to mutual funds. My intent is to jump into the underperforming managers from this select set of to get some additional alpha. On the whole it has been a small net positive and that too with benefit from a bit of luck.

 

So many funds have changed their managers, that the stock picking approach changed significantly. Clipper fund manager in 2001 used to be Jim Gipson, who is absolutely first rate stock picker but he retired. Same with T Rowe Price Capital Appreciation.

 

If I had just stuck with my initial subset of those 20, it would have been a significant underperformance.

 

Vinod