Herald Tribune -NEW YORK: Mark Carhart looked out over the packed New York conference room and told investors that Warren Buffett had it all wrong.
Carhart, co-head of the quantitative strategies group at Goldman Sachs, used his speech in July to poke fun at the penchant of Buffett, the Berkshire Hathaway chief executive, for investing in market-leading brands like Coca- Cola. He cited study after study showing that big-name companies with high price/earning multiples or rapid growth rates make poor bets.
Traditional stock pickers like Buffett, a fabled raconteur, do have one redeeming quality, Carhart joked: “They tell great stories.”
Carhart himself has a pretty good story to tell. Though he does not like to talk about it, Carhart is one of the world’s most successful money managers, a mastermind behind Global Alpha, a $10 billion hedge fund for wealthy clients and employees of Goldman Sachs.
