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Spear's Mistakes in Setting Up a Value Investing Fund
Guy Spear was obsessed with value investing when his father suggested he manage some of his money for him in 1996. He followed Buffett's advice of purchasing companies that are cheap and have an expanding moat around them. After five years, his fund significantly outperformed and assets under management crossed $50 million. The great financial crisis would prove how difficult it is to diverge from the crowd.
Clay reviews Guy Spier’s book, The Education of a Value Investor. Guy Spier is a renowned hedge fund manager who has beaten the S&P 500 by almost 250 percentage points since launching the Aquamarine Fund in 1997. He has also been a guest on We Study Billionaires several times, including episode #14 released all the way back in 2014.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:27 - Guy’s story and background, and the critical mistakes he learned from the journey.
06:39 - How studying Tony Robbins and Warren Buffett changed his life.
19:48 - How writing handwritten letters helped Guy forge and develop extremely valuable and fulfilling relationships.
23:20 - What led Guy to purchase a charity lunch with Warren Buffett.
43:54 - What he learned from experiencing the great financial crisis as a fund manager.
51:45 - Why Guy values fulfillment and a life well-lived over money.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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