Era Of Sky-high Valuations Claims Buffett Style Hedge Fund Founded In Times Of Lyndon Johnson

When Eli Weinberg looks back on his life, it's going to be the "known unknowns" that he might most lament. The co-managing partner as SPO Partners and former Goldman Sachs analyst recognizes that it is what couldn’t be predicted that was part causation for his value-based hedge fund closing Thursday, as first reported by ValueWalk.

Q3 hedge fund letters, conference, scoops etc

Nearly 50 years after the hedge fund founded known for a concentrated portfolio was founded, one of the early Warren Buffett disciple hedge funds realized that “known and unknown risks” were issues with some of his stock picks. In a challenging market environment for stock pickers, Weinberg told investors that “it is exceedingly difficult to deploy capital with an acceptable margin of safety.”

 

In a letter to investors reviewed by ValueWalk, Weinberg pointed to a core Buffett principle, finding great companies and believing in them over the long term, as not being a working thesis in today’s environment.

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