eclecticvalue Posted December 21, 2012 Posted December 21, 2012 http://www.businessweek.com/articles/2012-12-20/ryan-morris-28-year-old-activist-investor An article about this activist investor who has posted on the board before and was the center of some drama on this board. Good job Ryan and keep up the great work. If you see this Ryan, please stop by and speak with us again.
fareastwarriors Posted December 21, 2012 Posted December 21, 2012 Interesting stuff. Thanks for sharing. Hope to hear his thoughts here as well.
Tim Eriksen Posted December 21, 2012 Posted December 21, 2012 Interesting article. Great exposure for him. I doubt he will be able to respond as he appears to be quite busy with Lucas Energy (LEI). He was appointed Chairman yesterday and he has some serious matters to deal with in a very short amount of time.
NormR Posted December 21, 2012 Posted December 21, 2012 It's great to see someone so young make a big mark on the world. Btw, did he attend a FFH diner? His looks familiar but it's hard to tell from the picture.
bathtime Posted December 21, 2012 Posted December 21, 2012 Would he have known of the issue LEI has with paying the note before going on board? Wondering if it was priced in to his investment.
fareastwarriors Posted December 21, 2012 Posted December 21, 2012 There was another young investor this board talked about not too long ago. he runs his own fund and had like 100+ returns? what was his name again?
DCG Posted December 21, 2012 Posted December 21, 2012 There was another young investor this board talked about not too long ago. he runs his own fund and had like 100+ returns? what was his name again? HarryLong?? hahahahaahaha
fareastwarriors Posted December 21, 2012 Posted December 21, 2012 There was another young investor this board talked about not too long ago. he runs his own fund and had like 100+ returns? what was his name again? HarryLong?? hahahahaahaha I found it, Allan Mecham. We were talking him/his fund a few months ago.
limbacmf Posted December 22, 2012 Posted December 22, 2012 Here's a clip of an an interview of Ryan Morris conducted by Manual of Ideas.
brker_guy Posted December 22, 2012 Posted December 22, 2012 Fascinating! A newly minted MBA grad with no prior business pedigree is in the business of being an activist investor. I sure hope he reads and internalizes this Warren Buffett statement, "Can you really explain to a fish what it's like to walk on land? One day on land is worth a thousand years of talking about it, and one day running a business has exactly the same kind of value." May be then he will understand the meaning of being an "activist investor"?
berkshiremystery Posted December 22, 2012 Posted December 22, 2012 I would rather encourage you all to read Ryan's outstanding partnership letters. ;) ...They should be in everyone's file cabinet, because he's definitely a value investor to keep in eye on. http://www.mesoncapital.com/ http://www.mesoncapital.com/letters/2009_H1_MCP_Letter.pdf http://www.mesoncapital.com/letters/2009_Q4_MCP_Annual_Letter.pdf http://www.mesoncapital.com/letters/2010_Q4_MCP_Annual_Letter.pdf http://www.mesoncapital.com/letters/2011_Q4_MCP_Annual_Letter.pdf
berkshiremystery Posted December 22, 2012 Posted December 22, 2012 A two part interview with Ryan J. Morris: Interview: Ryan Morris (Meson Capital Partners) Part 1 Published: September 11, 2012 http://sumzero.com/headlines/financials_and_insurance/33-ryan-morris-meson-interview-part-1 Interview: Ryan Morris (Meson Capital Partners) Part 2 Published: September 11, 2012 http://sumzero.com/headlines/financials_and_insurance/34-ryan-morris-meson-interview-part-1 Ryan Morris: I feel like all the risk people are talking about today is overall market risk. Every tail insurance type policy seems overpriced to me – every bird in the sky is a black swan with a fat tail! With respect to risks that come up with all individual investments – particularly in the small cap universe where I focus - I’d say that the biggest risk that I don’t hear talked about is the governance side. The quality of corporate governance for smaller companies is just such a mixed bag and I don’t think people pay enough attention to it. Almost all of my investment mistakes have been related to that and it’s a fairly subtle thing until you have some experience with it. I know a lot of people who buy stocks based on profit guidance but they really need to take a closer look at the accounting and keeping track of how closely CEOs do what they say and how intellectually honest they are about their mistakes.
QLEAP Posted December 22, 2012 Posted December 22, 2012 I would rather encourage you all to read Ryan's outstanding partnership letters. ;) ...They should be in everyone's file cabinet, because he's definitely a value investor to keep in eye on. http://www.mesoncapital.com/ http://www.mesoncapital.com/letters/2009_H1_MCP_Letter.pdf http://www.mesoncapital.com/letters/2009_Q4_MCP_Annual_Letter.pdfs http://www.mesoncapital.com/letters/2010_Q4_MCP_Annual_Letter.pdf http://www.mesoncapital.com/letters/2011_Q4_MCP_Annual_Letter.pdf Yes, he writes well and acknowledges his mistakes readily. He seems to like hairy or levered situations where the risk of permanent capital loss is higher. In my opinion, it's a hard way to make money being an activist in small caps that may or may not turnaround. I enjoy reading about Parsad or James or Allan's investments more but each has his own investing style I guess. cheers qleap
fareastwarriors Posted May 1, 2014 Posted May 1, 2014 short clip on him on BloombergTV http://www.bloomberg.com/video/buffett-s-no-1-fan-how-i-live-like-the-oracle-5LCKJUjYQzaU0AThP1e9KQ.html
Guest wellmont Posted May 1, 2014 Posted May 1, 2014 any chance it's just an exceedingly well crafted image and we're all being snookered?
yadayada Posted May 1, 2014 Posted May 1, 2014 how hard is it to set up a hedge fund? Any forum members who went through this? Seems the best way is to find smart investors who are willing to vouch for you if they think your thinking process is right. And you have a few good years of succesfull picks behind you.
rijk Posted May 1, 2014 Posted May 1, 2014 any chance it's just an exceedingly well crafted image and we're all being snookered? guaranteed, just take a quick look at his performance post 2009, he managed to wipe out his initial "synthetic" several 100% advantage over S&P performance in just a few years... regards rijk
PatientCheetah Posted May 1, 2014 Posted May 1, 2014 how hard is it to set up a hedge fund? Any forum members who went through this? Seems the best way is to find smart investors who are willing to vouch for you if they think your thinking process is right. And you have a few good years of succesfull picks behind you. depends on your pedigree and connection/how much you are starting with/how good of a salesman you are/and a big dose of luck. assume you can raise 10-50 mil from yourself/family/connections, you basically have 3 years to show strong (30%+) and consistent returns. If you are still in the business after 2-3 years, your fund should be at least $100 mil by then. Then you are investable to the institutions. Good fortunes can snowball from here. That's my understanding of the state of the industry right now. Vast majority of the potential investors are outcome focused and only care your performance so luck plays a big part especially you only have a year or two to show good performance
writser Posted May 1, 2014 Posted May 1, 2014 any chance it's just an exceedingly well crafted image and we're all being snookered? Are you watching the Crucible or is that just a coincidence?
yadayada Posted May 1, 2014 Posted May 1, 2014 how hard is it to set up a hedge fund? Any forum members who went through this? Seems the best way is to find smart investors who are willing to vouch for you if they think your thinking process is right. And you have a few good years of succesfull picks behind you. depends on your pedigree and connection/how much you are starting with/how good of a salesman you are/and a big dose of luck. assume you can raise 10-50 mil from yourself/family/connections, you basically have 3 years to show strong (30%+) and consistent returns. If you are still in the business after 2-3 years, your fund should be at least $100 mil by then. Then you are investable to the institutions. Good fortunes can snowball from here. That's my understanding of the state of the industry right now. Vast majority of the potential investors are outcome focused and only care your performance so luck plays a big part especially you only have a year or two to show good performance yea the thing is, Im pretty confident about my picks. ANd I think i could with little extra work invest like 10-20 million$ in those stocks. My goal isn't really to make enourmous amounts of money. Just leverage what I am currently doing, with little extra effort. Even 5 million$ would be ok, Im ok with living everywhere, so i figure I could cheaply set up a fund for that. I guess I would first have to try and get my family in then. letter I found from his hedge fund: http://www.mesoncapital.com/letters/2011_Q4_MCP_Annual_Letter.pdf oh wait they were closed positions. Anyone has a list of his current holdings? http://seekingalpha.com/article/1801362-odyssey-marine-an-open-letter-to-ryan-morris-of-meson-capital Anyway it seems strange to be a huge fan of buffett and then do short selling. http://seekingalpha.com/author/meson-capital-partners/articles I also read up a little bit about that stock, and some short sellers did seem to use some shady tactics.
Guest Posted May 1, 2014 Posted May 1, 2014 I believe his two largest holdings are INFU and LEI. I'm basing that on the fact that he started the year managing about $10 million. It looks likes he's up to $15 million now. His fund owns(ed) about $3 million of INFU and ($2.14 a share at the start of the year and 1.5 million shares) and LEI $5.5 million (about $1 at the start of the year and almost 5.5 million shares). Though I think there is some legal structure to help reduce the risk of LEI (not sure how that works though).
rijk Posted May 2, 2014 Posted May 2, 2014 hmmm, a new partnership, why would that be? http://www.mesoncapital.com/letters/2014_Q1_MC_Letter.pdf maybe the performance of the existing partnership was not sufficiently buffett like? http://www.mesoncapital.com/letters/2013_Q4_MCP_Annual_Letter.pdf regards rijk
yadayada Posted May 2, 2014 Posted May 2, 2014 How does that activist thing work anyway? Is that possible with only 15 million$. Seems you need to buy into really small company's to make a difference.
Ham Hockers Posted May 2, 2014 Posted May 2, 2014 how hard is it to set up a hedge fund? Any forum members who went through this? Seems the best way is to find smart investors who are willing to vouch for you if they think your thinking process is right. And you have a few good years of succesfull picks behind you. depends on your pedigree and connection/how much you are starting with/how good of a salesman you are/and a big dose of luck. assume you can raise 10-50 mil from yourself/family/connections, you basically have 3 years to show strong (30%+) and consistent returns. If you are still in the business after 2-3 years, your fund should be at least $100 mil by then. Then you are investable to the institutions. Good fortunes can snowball from here. That's my understanding of the state of the industry right now. Vast majority of the potential investors are outcome focused and only care your performance so luck plays a big part especially you only have a year or two to show good performance yea the thing is, Im pretty confident about my picks. ANd I think i could with little extra work invest like 10-20 million$ in those stocks. My goal isn't really to make enourmous amounts of money. Just leverage what I am currently doing, with little extra effort. Even 5 million$ would be ok, Im ok with living everywhere, so i figure I could cheaply set up a fund for that. I guess I would first have to try and get my family in then. All the non-investment stuff has the biggest potential for sucking away your time.
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