When I ran Firsthand Funds, I recruited portfolio managers by hiring newly minted MBA's from top business schools and training them. This experience taught me how incredibly difficult it is to identify a skilled investor on the basis of an interview.
That is why when I started Marketocracy, I told everyone who wanted to be a portfolio manager that they first had to prove themselves by managing a model portfolio.
Showing me an outstanding track record is the first step in my vetting process for Marketocracy managers. That’s how I decide who to interview. I don't want managers who think investing is a job. I want managers who love to spend their time researching and discussing stocks.
If the interview goes well, I ask potential managers to invest in their own portfolios. I figure that no one should invest in a fund in which the portfolio manager is unwilling to invest.
I believe the Marketocracy managers I have recruited are among the best in the world. They each have their own investment style so it is rare when all of them are hitting it out of the park or falling off a cliff at the same time.
The managers featured below are the one’s that clients have recently asked about the most.