Thu, Apr 27, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Value investor Guy Spier looks to emerging market and commodity stories for opportunities

Friday, October 22, 2010

From Kirsten Bischoff, Opalesque New York:

The principles of value investing are so intrinsic to the way Swiss-based firm Aquamarine Capital approaches business that Managing Partner Guy Spier allows his investors to participate in the fund at fee structures based not according to the assets under management, but rather on the value of the performance. According to the firm's website, "Returns above 6% are split in a 3:1 ratio between Limited Partners and the Managing Partner after fund expenses."

In an industry plagued by criticism over fee structures that have a tendency to reward high risk trading, Spier's bold move to collect fees only on alpha generation is one that has been discussed by many and implemented by few.

"...That seems to me to be a much better alignment of interests, between the manager and his investors than a standard 1 and 20 or 2 and 20, whereby the manager could be incentivized to simply gather assets," he explains to Opalesque's Matthias Knab during a recent interview on Opalesque TV.

Spier actually changed from the more prevalent 2/20 to the current fee structure in advance of his much-publicized lunch with Warren Buffett.

S......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Alternative asset firm YieldStreet surpasses $100m of loans funded in less than 8 quarters[more]

    Komfie Manalo, Opalesque Asia: Alternative asset investment platform YieldStreet reported that it has surpassed $100m in loans funded in less than eight quarters from accredited investors and single family offices. YieldStreet was founded by Milind Mehere and Michael Weisz. In a

  2. Investing - Investor appetite for high-growth IPOs to be tested, Apollo boosts fund's stock allowance for 'diamonds in the rough', Hedge funds uncertain over outlook for Hargreaves Lansdown[more]

    Investor appetite for high-growth IPOs to be tested From FT.com: The US listings market is poised for a busy week with deals that will test investors' appetite for high-growth - but lossmaking - companies. Eight new listings are scheduled for this week, the most since October of 2016,

  3. Hedge funds holding Puerto Rico bonds are looking at a long battle[more]

    Komfie Manalo, Opalesque Asia: Hedge funds which bought Puerto Rico's distressed debt bonds are facing the prospect of a long road ahead to recover their investments as the Caribbean island is attempting to use a U.S. Congress-approved rule that allows it to exploit a bankruptcy-like proceedings

  4. Other Voices: "Winner-take-all" dynamics and hedge fund investing[more]

    A growing stream of thinking in microeconomics is the concept of "winner-take-all" dynamics. The idea seems simple. A combination of networking economics and classic economies of scale creates situations where there are just a few dominant firms or economic agents who are able to capture significant

  5. Investing - How Chipotle's comeback attracted big data robots and value investors alike[more]

    From Forbes.com: When William Ackman's ailing hedge fund Pershing Square Capital Management bet $1 billion on shares in Chipotle Mexican Grill beginning in July 2016, the stakes couldn't have been higher. Pershing Square was reeling from what would eventually be a near $4 billion loss in drugmaker V