
12 Ge tt in g re ad y fo r Ho lt e Ca pital
value of the liabilities was lower than it
immediately appeared. It may sound
sad that two grown men could sit in
an office and get excited about long-
term liabilities of an insurance company,
but it was kind of fun. This was not
investing with buzzwords, drama and
sweeping judgements – Peter would not
know a buzzword if it hit him in the
face – but instead was more like puzzle-solving and discovering things
that others had missed.
I accepted the job with SC Fundamental mainly because of Peter.
He said they wanted to exploit new markets and he woul