When the legends of the “buy on a drawdown” concept are solidified, Dick Gilder of Gilder Gagnon Howe & Company is likely to receive a lifetime achievement award. On the thirty-year anniversary of Black Monday, it was Gilder who stood up one week after the market crash and did what amounts to yelling at clients that stocks were on sale, it was time to buy. This registered investment advisor survived when in 2007 their clearing partner, Bear Stearns, collapsed. The fund, now with nearly $4 billion under management, withstood this historic headwind, holding serve. Today amid overall challenging hedge fund returns they are delivering triple digit year to date performance, according to a letter to investors reviewed by ValueWalk.
[klarman]
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
