The 5 Principles of Friessology
Dr. Thomas Carr
In the investing world, there are the “gurus” and there is the rest of us. Gurus manage billion dollar funds and are celebrated as near-divines by the financial media. The rest of us look after whatever funds we can cobble together and are celebrated by none but family members once the will is read.
Many of those in the “rest of us” camp look up to the gurus, ingesting their market philosophies and emulating their investing styles. Some even have favorites. For example, one investor might construct his portfolio according to the rules of “Buffettology” while another might want more of a growth focus like that advocated by Martin Zweig. I’m no different. I build systems based on technical and fundamental analysis, but the gurus always factor into the algorithms, especially when I’m stuck and in need of inspiration.
My favorite guru investor is a man named Foster Friess, founder of Friess Associates and its flagship mutual fund, the Brandywine Fund. Friess has been in the public spotlight in recent years for his ventures into political activism. If that fact knocks him off your personal “favorites” list, you should know that this near-billionaire has done some amazingly cool things with his wealth. Through his family’s foundation, he’s funded mobile hospitals bringing medical aid to the poor. He’s brought clean drinking water to over 70,000 people in Malawi. And he’s poured countless millions into relief efforts following Katrina, the Asian Tsunami, and the Haitian earthquake. One of his secrets to giving is that he doesn’t consider the money he earns as his own. “It belongs to God,” he says. “If it were mine, you’d not get very much of it!”
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