Business

Hedge funds give less transparency than almost anything that people invest money in... Since investors have accepted much less transparency and much less attractive terms in liquidity and information rights, they have not been able to pick apart the sources of return.

Small hedge funds do better than big ones... big hedge funds did better when they were small... therefore the industry did better when it was small... That third step in the logic is something that investors don't spend a lot of time thinking about because there's nobody around to point that out to them!

If all the money that's ever been invested in hedge funds had been put in treasury bills instead, the results would have been twice as good.

Since 1998, the effective return to hedge-fund clients has only been 2.1% a year... never in the history of Finance was so much paid by so many for so little.

Think of 'branding' as burning in a name on an animal such as a cow so that the cow's owner would be known. This protects the owner in the event that the animal is stolen. But we can use the name 'branding' whenever anyone affixes their name to something that is available for sale.

Father of Modern Marketing & Prolific Management Author

Because Peter Paul Rubens signed his name to his paintings (several of which were finished by his artisans), they commanded a higher price. Today, the famous contemporary glass artist, Dale Chihuly puts his name on every work of glass although he never makes any of it.

Father of Modern Marketing & Prolific Management Author

A foreign power using financial resources to create hedge-funds or other anonymous players who would gain leverage and trust and be viewed as just another hedge-fund with a funny name based out in the Cayman islands. People would be unaware of their true attentions and then on a certain day, they could act in co-ordination and flood the market with sell-orders.

Currency expert & author on financial threats to national security

We will not employ capital unless we can find an opportunity that has a minimum of 50% upside to our intrinsic value over the term of our investment.

Value investor and niece of legendary investor John Templeton

Managing a hedge fund as a value-investor is a dream come true!

Value investor and niece of legendary investor John Templeton

Uncle John always had a desk-plate in his office that said 'trouble is opportunity' and that's very much how we see the markets.

Value investor and niece of legendary investor John Templeton

The point of maximum pessimism is the ultimate time to buy a stock because at this point, all the sellers are gone… and only buyers remain. How do you determine this point? Even Uncle John said it's impossible…. You never know until it has passed!

Value investor and niece of legendary investor John Templeton

We tend to see two scenarios that come up time and time again. The first and most common scenario is that security prices become inefficient or show large departures from intrinsic value when there are few investors paying attention to the company. So in this case, we are talking about a neglected stock.

Value investor and niece of legendary investor John Templeton

I'm very old-fashioned in the sense that I still feel you need a strong manufacturing sector in your economy. I was saying that in the late 1970's and early 80's and people just laughed at me. I think my day is about to turn.

It's clear to me that small businesses, particularly micro-enterprises, have been responsible for the majority of the gross job creation in the last five years… particularly through the recession.

For every example I could give you of regulations causing problems, I could give you two of regulations creating opportunities. I think this notion that regulation is causing problems is a real red herring.

The world of business is scared without realising that it, itself, is the cure.