First Eagle

[Munger_Disciple]

Well-known value investing firm First Eagle is for sale: https://archive.ph/YPSXX

 

I didn't know that First Eagle was owned by PE firm Blackstone. The famous value investor Jean-Marrie Eveillard used to work there. Hopefully this is a bottom indicator for value investors. 

 

[dwy000]

20 minutes ago, Munger_Disciple said:

Well-known value investing firm First Eagle is for sale: https://archive.ph/YPSXX

 

I didn't know that First Eagle was owned by PE firm Blackstone. The famous value investor Jean-Marrie Eveillard used to work there. Hopefully this is a bottom indicator for value investors. 

 

Bought for $4bn. For sale for $4bn

[gfp]

17 minutes ago, dwy000 said:

Bought for $4bn. For sale for $4bn

Thank god for those hundreds of millions of dollars in annual dividends they probably pulled out of it along the way.  It's tough out there

Edited Saturday at 08:50 PM by gfp

[LC]

1 hour ago, Munger_Disciple said:

The famous value investor Jean-Marrie Eveillard used to work there

Oh wow, I didn't realize he had fully retired, 5 years ago no less. 

[Dinar]

55 minutes ago, LC said:

Oh wow, I didn't realize he had fully retired, 5 years ago no less. 

He is quite old.  I saw him at the opera about a year ago, and he seemed very old.  I think he has retired a decade or go or may be even earlier, and was just coming to the office the way retired professors do.  I think Matthew has been running the show way before Covid.

[Munger_Disciple]

1 hour ago, Dinar said:

He is quite old.  I saw him at the opera about a year ago, and he seemed very old.  I think he has retired a decade or go or may be even earlier, and was just coming to the office the way retired professors do.  I think Matthew has been running the show way before Covid.

 

Yes he retired at least a decade ago. I admire Jean-Marie; when he lost > 50% his AUM in the go go dot.com bubble days of late nineties because he refused to participate in the mania, he remarked: I would rather lose half my clients than half my clients' money. A class act!

Edited Sunday at 12:19 AM by Munger_Disciple