Capital Allocators – Inside the Institutional Investment Industry Bruce Martin – Still Lake Capital [Manager Meetings, EP.7)
Aug 19, 2021
In a thought-provoking discussion, Bruce Martin, Founder of Still Lake Capital and a former credit market veteran, shares insights on transitioning to an independent investment model. He highlights his investment philosophy inspired by Warren Buffett, along with his focus on a concentrated equities portfolio. Joining him is Donna Snider, Chief Investment Officer at Hackensack Meridian Health, who reflects on her enduring connection with Bruce and the key lessons they both learned through their careers, emphasizing the importance of authenticity and effective communication.
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Bruce's early influences
- Bruce Martin's early life experiences, like witnessing his grandfather's financial loss and uncle's negotiation tactics, sparked his interest in finance.
- Despite initially pursuing other fields, he ultimately landed a job analyzing investment-grade bonds, marking the beginning of his investment journey.
Putnam's unique approach
- Bruce transitioned from analyzing high-yield bonds to working at Putnam, where he observed the firm's unique approach to meeting with companies.
- This experience highlighted the advantage of direct interaction with company leadership, shaping his perspective on effective research.
Leaving Putnam
- Witnessing the market downturn in 1999 and Putnam's subsequent compensation decisions influenced Bruce's decision to leave.
- He joined Angelo Gordon, seeking an environment where his hard work wouldn't be undermined by external market events.
