Doug Tynan loves a checklist. In a funds management market crowded with macroeconomic crystal ball gazing and noisy high-conviction stock picking, the former VGI Partners executive is building a business based on one thing: does an investment make it through an extensive vetting process.
“We’ve done that with investing. Whenever we’ve made an error, or lost money, or not made the money that we thought we would have, we’ve stopped, said, ‘how could we have avoided this with the checklist?’” “Because of our returns, and because many people regard Magellan as no longer investible, and because Zenith gave us a recommended rating off the bat, all these advisers wanted us to be on their platforms,” he says. “There is no one else that is new, in global [equities], that is doing anything like this.”Zenith’s endorsement has been particularly helpful.
One of his investors is Danny Goldberg, the Sydney art collector and executive chairman of Dakota Capital. Goldberg says he first met Tynan at a VGI investment meeting. “One of the things I remember from the meeting was that, whether or not it was a stock that he was championing, Doug’s observation and comments were insightful and based on analysis and not intuition,” he tells“I can play darts myself, I don’t need to pay someone to play darts for me.
“These brands have been around for 180 years, and they’ve survived world wars and depressions,” Tynan says. “There’s more millionaires and billionaires in the world every month, that’s a trend that’s going to continue. And there’s no new 100-year brands.”
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