Guy Spier Net Worth
Guy Spier has an estimated net worth of $350 million. Guy Spier is a Swiss investor. He is the author of The Value Investor’s Education. Spier is the manager of the Aquamarine Fund, which has $350 million in assets.
In 2008, he and Mohnish Pabrai offered $650,100 as part of a charity dinner with Warren Buffett.
He employs checklists as part of his investment process, as described in Atul Gawande’s 2009 book The Checklist Manifesto.
To calculate the net worth of Guy Spier, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets.
All debts, such as personal loans and mortgages, are included in total liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$350 Million|
|Monthly Salary:||$200 Thousand|
|Annual Income:||$5 Million|
|Source of Wealth:||Investor, Aquamarine Fund, Author|
Pietermaritzburg, South Africa, was the birthplace of Spier. He attended kindergarten in Tel Aviv, Israel, after his family moved there when he was three months old. He attended the British Embassy School in Tehran after moving to Iran with his family in 1970. From 1977, he attended the City of London Freemen’s School in Ashtead, Surrey, as a weekly boarding student. He matriculated in 1984 to study law at Brasenose College, Oxford, where he was taught by Hugh Collins and Mary Stokes, among others.
A year later, in 1986, he changed his major to PPE (politics, philosophy and economics). Peter Sinclair was one of his tutors for economics, where he sometimes worked with David Cameron, who later became Prime Minister.
He also studied politics with Vernon Bogdanor. He was not very good at politics, but he was an excellent economist and graduated with a first class degree, having won the George Webb Medley Prize for Economics.
Spier also attended Harvard Summer School and Ruprecht Karls College in Heidelberg during his college summers. Spier also completed an internship at Creditanstalt in London.
Spier was offered a place in Harvard’s Joint Business and Economics PhD program and Harvard’s MBA program in 1990. He decided to pursue an MBA and completed the program in 1993. His colleagues at HBS include Mark Pincus, Chris Hohn, and Sherry Coutu.
From 1988 to 1990, Spier worked as an associate at Braxton Associates, the strategy consulting firm that was later sold to Deloitte Consulting. In its London and Paris offices, Spier, along with colleagues David Pitt-Watson and Michael Liebreich, advised British and European companies on their strategy regarding the European Common Market. He later completed an internship in the Future Studies Unit at the European Commission in Brussels (Cellule de Prospective).
During his final year at Harvard Business School, Spier applied to white-shoe firms such as Goldman Sachs and J.P. Morgan but turned down those offers in favor of the lesser-known DH Blair.
During his time as vice president, he sought funding opportunities for new technology startups. In retrospect, Spier described the experience as “not unlike” that of the movie Wolf of Wall Street. However, he quickly regretted his career decision.
After leaving investment banking, Spier founded the Aquamarine Fund. It was modeled after Warren Buffett’s investment partnerships in the 1950s. Currently, Spier continues to manage the fund, which as of June 2021 had $300 million in assets at AUM.
Spier closely adheres to Warren Buffett’s principles of value investing and capital allocation. However, he also acknowledges that value investing has changed over time, as the popularity of the style has led to fewer options available to investors.
There are still excellent ideas out there, but today’s successful value investor must look further afield and sometimes think outside the box. Lately, Spier has shunned activism, stating, “My goal as an investor is to grow money for my shareholders, not pick unnecessary fights or act like an avenging moral crusader.”
Spiers has always advocated probity and humility in financial management. Along with Peter Sinclair and Tom Skinner, Spier published a paper in 2008 titled “Bonuses, Rating Agencies, and the Credit Crisis.”
The paper argues that short-termism has led to miscalculations in rating agency bonuses. When it comes to professional investment management, he also makes a strong case for not charging management fees. Spier argued that Switzerland must become a center of investment excellence. He wrote that “while Switzerland’s biotech, healthcare, and technology clusters are exceptionally well developed, Swiss private banking still has a long way to go.”
In 2003, Spier, along with David Einhorn, Bill Ackman, and Whitney Tilson, became the target of investigations by then-New York Attorney General Eliot Spitzer and the U.S. Securities and Exchange Commission for short-selling Farmer Mac, MBIA, and Allied Capital. Ackman and Einhorn published books on the collapse of these companies during the financial crisis of the late 2000s.
Published by Palgrave MacMillan in 2014, it details Spier’s early career struggles on Wall Street and his transformation into a value investor. In addition to English, the book has been translated into Spanish, German, Japanese, Korean, Chinese, Polish, Hebrew, and Vietnamese.
In Delaware bankruptcy court, Spier, Town, and Peterson petitioned Judge Sontchi to form an official committee of shareholders of Horsehead Corporation, which had filed for bankruptcy earlier that year.
Referring to Dan Bilzerian, Spier compared stock picking to “drinking in bars” in a 2019 YouTube interview with Tilman Versch of ValueDACH.
In 2020, Spier hosted a panel discussion on “The Future of Smart Investing” with Niall Ferguson, Sandy Climan, and Daniel Aegerter.
Klosters hosts an annual investment conference called VALUEx. Former Iron Mountain CEO Richard Reese and Joe Chapman were among the attendees.
Spier also makes occasional media appearances as a financial commentator.
Personal Life & Wife
Spier lives in Zurich with his wife Lory and three children – Eva, Isaac, and Sarah. His great-great-grandmother, Johanna Lazard, is related to the Lazard, Speyer, and Rothschild banking families.
He lived at Bruce Price Cottage in Tuxedo Park, New York, a village built by Pierre Lorillard in the late 1800s. He is a member of the Entrepreneurs’ Organization and the Young Presidents’ Organization.
The Education of a Value Investor
What happens when a young investment banker on Wall Street spends a small fortune to have lunch with Warren Buffett? He becomes a true value investor. In this fascinating inside story, Guy Spier describes his journey from Harvard MBA to hedge fund manager.
But the path was not so straightforward. Spier reveals his transformation from a Gordon Gekko wannabe driven by greed to a sophisticated investor who enjoys success without selling his soul to the highest bidder.
Spier’s journey resembles the thousands who flock to Wall Street each year with their shiny new diplomas, intent on becoming King of Wall Street. But what Guy realized just in time was that the king actually lived 1,500 miles away in Omaha, Nebraska. Spier set out determined to make a new career on his own terms.
Along the way, he learned some important lessons: why the right mentors and partners are critical to long-term success on Wall Street; why a top-notch education can sometimes get in the way of your success; that the real learning begins when you are on your own; and that the best lessons from Warren Buffett have less to do with investing and more to do with staying true to yourself. Spier also reveals some of his own successful investing strategies and shares trades that succeeded, as well as what he learned from trades that went wrong.
The Education of a Value Investor takes readers on a journey through Wall Street, but most importantly, Guy Spier gives those who want to take a different path the insight, guidance, and inspiration they need to find their own definition of success.
Guy Spier Quotes
“when your consciousness or mental attitude shifts, remarkable things begin to happen. That shift is the ultimate business tool and life tool.”
“We like to think that we change our environment, but the truth is that it changes us. So we have to be extraordinarily careful to choose the right environment—to work with, and even socialize with, the right people. Ideally, we should stick close to people who are better than us so that we can become more like them.”
“This became my own goal: not to be Warren Buffett, but to become a more authentic version of myself. As he had taught me, the path to true success is through authenticity.”
“our environment is much stronger than our intellect. Remarkably few investors—either amateur or professional—truly understand this critical point.”
“As I’ve come to discover, investing is about much more than money. So as your wealth grows, I hope you will also come to realize that the money is largely irrelevant. And what you will want to do with the bulk of your wealth is give it back to society.”
“tiny differences matter in investing—a pursuit where small structural changes can add up to big differences in returns over time. Long-term compounding is an investor’s best friend, so why get in its way? There’s a huge benefit to getting these seemingly minor details”
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