Capital Allocators – Inside the Institutional Investment Industry
Adam Karr – Extreme Alignment at Orbis (EP.338)
Sep 14, 2023
In this engaging conversation, Adam Karr, President and Portfolio Manager at Orbis, shares insights from his unique journey in global equity management. He discusses Orbis' innovative fee structures, including performance rebates that align interests with clients. Adam reveals their long-term investment philosophy and the use of analyst shadow portfolios to enhance decision-making. He also touches on the importance of cultivating talent and personal growth, all while emphasizing the joys of life outside the financial realm.
58:52
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Quick takeaways
- Orbis promotes alignment with clients through unique business practices, such as a fee structure with rebates during underperformance.
- Orbis encourages long-term thinking and independent decision-making with their privately owned, perpetuity charitable foundation ownership structure.
Deep dives
Orbis' Business Practices and Alignment
Orbis, a global equity manager, focuses on creating alignment through unique business practices. They have a fee structure with rebates and a permanent ownership model. This encourages alignment with clients by offering refunds during underperformance. The alignment also extends to the firm's ownership structure, as they are privately owned by a perpetuity charitable foundation. These business practices promote long-term thinking and the ability to make independent contrarian decisions.
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