Zero Management Fees

In my book, the Education of a Value Investor, I write about my difficulties in getting to a zero management fee structure for my fund. Indeed, it was only my meeting with Mohnish Pabrai, and our subsequent lunch with Warren Buffett that properly set me on that path.

Some years subsequent to that,  I wanted to learn more about who else was doing something operating in such a structure. So I put a simple form up on my website and then handed the data to my director, Mark Chapman, who wrote it up in a the paper that follows.

It has become one of our most popular white papers — and has been accessed or downloaded more than 3,000 times.

You can access the White Paper here.

Guy Spier

Guy Spier

I’m a Zurich-based investor and the author of The Education of a Value Investor, which was published in 2014. Since 1997, I’ve managed a privately offered investment fund known as the Aquamarine Fund. In 2009, I moved from New York to Zurich, Switzerland, where I live with my wife Lory and our three children, Eva, Isaac and Sarah.
Guy Spier

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