Evidence receipt / uncertainty
Published · transcript-backedBrad Gerstner: uncertainty
15 Mar 2022 Acquired Altimeter (with Brad Gerstner)
“At the time, if you really rewind the clock, Warren Buffett—I don't know what year it was, 1955 when he started his hedge fund—did both publics and privates.”
Source trail
Everything needed to verify it.
- Speaker
- Brad Gerstner
- Attribution
- Verified speaker
- Claim type
- uncertainty
- Recorded
- 15 Mar 2022
- Publisher
- Acquired
- Episode
- Altimeter (with Brad Gerstner)
Transcript context
…Also when you say this business model, this venture capital hedge fund business model, until what you and now several others have done, that was not a business model. They were two completely different types of businesses. Correct. I'll hit that in just a second. I wanted to start a business and I said, I think I can build a better version of this model. At the time, if you really rewind the clock, Warren Buffett—I don't know what year it was, 1955 when he started his hedge fund—did both publics and privates. He didn't distinguish. He just sought out great investments. Paul Reeder who started PAR Capital was doing private investments before Brad Gerstner showed up. Seth Klarman at Baupost was doing private investments before we coined the term crossover. David Abram's in Boston. I had a lot of legendary investors I looked up to that never thought of the world in crossover, but there wasn't this artificial constraint that I can only invest if you're pre-IPO or you're post-IPO. What did private investments mean to them? Did it mean what we think of or did it mean something else?…
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