http://www.google.com/search?sourceid=navclient&ie=UTF-8&rlz=1T4GWYA_enUS311US311&q=barrons+the+value+geneThe Value Gene
Paul Isaac's father helped Mutual Shares founder Max Heine find his first job on Wall Street. And his uncle, Walter Schloss, studied under Benjamin Graham and was praised by Warren Buffett. Why Isaac likes French banks and is down on Amazon.com.
This New York-based investor has value investing in his blood. His father, Irving, an arbitrageur, was instrumental in finding Max Heine his first job on the Street. Heine went on to run the legendary Mutual Shares Fund, and Irving Isaac sat on its board for three decades. And Paul Isaac's uncle, Walter Schloss, a student of Benjamin Graham, was praised by Warren Buffett and profiled in Barron's. At his former position leading a fund of funds, Paul Isaac produced high single-digit returns annually. That fund was sold after the 2008-2009 financial crisis. He continues to manage Arbiter, a hedge fund that has returned 21% a year, on average, since its 2001 inception. Isaac, 62, writes nuanced, beautifully reasoned investor letters that magnificently illuminate the financial markets. One fan is writer and investor Jim Grant, who once dedicated a book thusly: "To Paul Isaac, who knows everything." To learn Isaac's take on the world and what Irving and Walter might think, read on.
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