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Akre Focus Fund Investor (Halloween) Conference Call
Thanks, Charles; I intended to listen but was busy elsewhere. I'll look forward to hearing the recording. Just recently bought a starter set of AKREX shares.
Reply to @VintageFreak: I gotta say, he did certainly sound pretty old on this call. But full of energy. Did not miss a beat. How old is Mr. Buffett or Mr. Munger? Sounds too like Mr. Akre has some talented folks on the team, that he trained a long time...."to be investors, not just analysts." After listening to him on this call, I would not use his age as a reason to not invest in this fund.
I beg to differ. Akre has his name on the door. Not the same thing. Never the same thing. Whitman, Leuthold, Akre, etc. That's why never invested in Walthausen either. It is a different kind of risk that I alone seem to perceive.
Comments
Straight-forward and welcoming.
"The fund invests as a team. Our success is team success." Mr. Akre stated when asked about succession.
Does not make macro calls.
Invest business by business...looking for under-valued, well-managed "compounding machines."
Seek above average return at below average risk.
AUM has grown rapidly since inception. Now holding about 20% cash.
Size dictates finding value in large caps.
No plan to close fund yet.
High conviction positions, often starting as much as 10%.
Believe the recording will be posted on site.
Well worth a listen.