Top long oriented value shops
As the title states, what are some of the top long oriented value shops? Would love a sense of the very best but also a cut below given I don’t come from a top 3 BB / EB group.
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glenview is good
pretty generous definition of good...
They are not good by any metric
Am I missing something? they seem good outside of the huge hit from COVID
SPY
Baupost in terms of reputation/fame, but returns have been lagging for some time
Yeah Baupost seems very top tier / likely above my focus range for recruiting haha
Probably applies to every "value" fund out there. Good reputation based on the 2000-2008 period and before, but poor performance since.
Are value firms not allowed to change to a more growthy or GARP investing strategy?
Hayden Capital I heard had some huge returns, they are value-oriented Long term
Killer returns but seems a bit small in terms of AUM? Could just be me but seems risky to join a firm that has only ~$10M in AUM unless I can't google
Yeah I don't work for them so idk. Obviously you can do much more with smaller AUM so that also may be the case.
Why do you keep pumping this dude's PA?
I talked to Fred Liu before, he's a nice guy but it's a 1 man fund. I hope bobmiller isn't his friend...
The founder is the only employee though, and with that AUM they probably won’t be hiring right?
Most likely
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Any thoughts on which ones I could target coming out of a non-top BB / MM PE?
There is enough variance in analyst profiles at the "prestigious" value funds to suggest that you can and should target all of them. The interview process for value equity funds will be very similar. Maybe you'll have to do more distressed prep for value funds that invest across the structure.
Just shoot your resume in to every decent value fund when HHs come calling or through your network and hope for the best.
If you're trying to generate a list of such funds, look for funds >$3bn with 5/10yr performance well below the market :)
Appreciate the push to shoot for the stars. Thank you - might as well shoot over my profile and see what sticks.
As a random thought - is there a particular reason to push for a ~$3B+ fund? I mostly ask because I found a ~$2B fund I'm very excited about with good returns (and most importantly I love the people) but want to make sure I'm not missing something big (like I did re: Glenview haha)
Ruane, Cunniff & Goldfarb
I don't know whether OP changed the post because I swear it was written as "hedge fund" (or I am tripping, which is totally possible)
If not hedge fund, easy question: Baupost, Sequoia Fund (Ruane Cundiff), First Eagle, Cantillon, Brave Warrior, Pzena, Davis Advisors, Sound Shore, Harris Associates / Oakmark fund, Heartland Value, Miller Value, IVA (International Value Advisors, these guys came from First Eagle), Abrams Capital (David Abrams worked for Klarman), Akre Capital
I didn’t change the post but I did mean hedge funds!
Oh, right, you posted in the hedge fund forum. Yeah, then it's Baupost, Cantillon, Brave Warrior, Abrams. Rest are more mutual fund-ish i think.
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