May 31st, 2000
“Within a month of the stroke, I had regained most of my motor skills and although still unable to speak properly, I was able to follow the markets and our trading program and to put in my two cents on occasion, for whatever it was worth.”
This is an actual quote from a manager letter back in 2000. This is not intended to poke fun, but simply to expose the "key man" risk with many hedge funds and the way they are managed.
It is remarkable that this manager, who suffered a tragic health set back was able to not only pen (dictate) this missive, but also take over ongoing management of the portfolio and actually return redeeming investors capital with an 80% net return for the year 2000.
This actually illustrates the courage and perseverance often present in great leaders.
No excuses. Just results. Anyone else worthy?
Thursday, June 25, 2009
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