Investor Letters & Interviews

If you are looking for a manager to invest your capital, you know that finding one you can trust and rely on is essential to your investment success. Yet beneath the polished presentations and glossy reports lies a fundamental conflict of interest — one that quietly eats away at your returns. Imagine hiring a captain who refuses to board the ship he wants you to travel on, or a chef who won’t taste his own food. That’s how much “skin in the game” most asset managers have. The