Professional

Guy Spier

Since 1995 Guy Spier has been running Aquamarine Capital Management, LLC. Investors include friends and family, high net worth individuals, and private banks investing on behalf of their clients.

The fund has market beating returns - and has received mentions by Lipper and Nelson's world's best money managers. The investees can be obscure or they can also be very well known.

The fund has also done well owning the shares of less understood, but very high quality, cash generative businesses. It currently owns several credit rating companies as well as several post secondary education companies. The ratings business (whether of debt securities, or of individuals, through education) is one of the best businesses that Guy has ever seen, and is consistently underestimated by investors.

Appearances
Guy Spier recently appeared to talk about investing in various forums, including the Harvard Business School Investment Club conference, with students at Wharton Business School, at Boston University Business School and at London Business School. He also appeared in print in the Financial Times, the Economist, Money Magazine, Bloomberg News and the Wall Street Journal. He was recently featured in "Forbes on Fox" on Fox News Channel.

Venture Capital
Before Aquamarine Guy spent a couple of years raising money for development stage companies. It was during this time that he discovered value investing; he came across the Intelligent Investor by Ben Graham. Whereas the venture capital world made less and less sense to Guy the more he did it, value investing has made more and more sense to him.

Before Harvard Business School, Guy worked as a consultant at Braxton Associates, now part of Deloitte Consulting in London and Paris. He also spent 6 months working at the Forward Studies Unit (Cellule de Prospective) at the European Commission.

Education
Guy Spier did an MBA at Harvard Business School (class of 1993).

He did his undergraduate degree at Brasenose College, Oxford in PPE (Politics, Philosophy and Economics). He graduated in 1988. Upon graduating, he was co-awarded the George Webb Medley Prize for the best performance in Economics for that year. Guy was also awarded an M.A. from Oxford.