Gavin Baker
+ Your AuthorsArchive @GavinSBaker Managing Partner & CIO, Atreides Management LP. Formerly Fidelity OTC Fund. No investment advice, views my own. gavin-s-baker.com/ Dec. 26, 2020 1 min read

1) George Vanderheiden retired in January 2000 after an illustrious career.

When he retired, he firmly believed technology was in a bubble.

He was massively underweight technology while being overweight homebuilders, tobacco and value in general.

 https://gavin-baker.medium.com/lessons-from-george-vanderheiden-one-of-the-greatest-investors-ive-ever-known-4bfa74c4b6d4 

2) Some lessons from him:

“Important to begin the year thinking about where one can lose the most money, rather than where one can make the most money.” Love humility inherent to this, dovetails with “I don’t know” > “margin of safety” as the most important 3 words in investing

3) “Manias often fizzle after the end of a calendar year.”

“Being too early is often the same as being wrong.”

“Being a fund manager makes it easier to change your mind relative to being an analyst.”

“Client alpha” really matters.


You can follow @GavinSBaker.



Bookmark

____
Tip: mention @threader_app on a Twitter thread with the keyword “compile” to get a link to it.

Enjoy Threader? Sign up.

Since you’re here...

... we’re asking visitors like you to make a contribution to support this independent project. In these uncertain times, access to information is vital. Threader gets 1,000,000+ visits a month and our iOS Twitter client was featured as an App of the Day by Apple. Your financial support will help two developers to keep working on this app. Everyone’s contribution, big or small, is so valuable. Support Threader by becoming premium or by donating on PayPal. Thank you.


Follow Threader