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For those not at the poker table, Swensen#x27;s 2000 magnum opus, Pioneering Portfolio Management, allowed them to absorb his investment philosophy. A wrong fit for Wall Street. But their 2018 accounts reported 9.47m profit on their bottlestores and 3.17m on investments though Smale says there#x27;s some accounting trickery at work which has left 6m costs unmentioned that. May 16, 2022 So it is good to see that Hallenstein Glasson Holdings insiders have a significant amount of capital invested in the stock. To be specific, they have NZ71m worth of shares. That shows significant buy-in, and may indicate conviction in the business strategy. Those holdings account for over 22 of the company; visible skin in the game.
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quot;Beware of geeks bearing formulas.quot; --Warren Buffett In March of 2006, the world#x27;s richest men sipped champagne in an opulent New York hotel. They were preparing to compete in a poker tournament with million-dollar stakes, but those numbers meant nothing to them. They were accustomed to risking billions. At the card table that night was Peter Muller, an eccentric, whip-smart whiz kid who#x27;d.
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