
52 Ge tt in g re ad y fo r Ho lt e Ca pital
fact, you should take $100 and gear it five times and you would be
almost guaranteed to double your money every year. Even the Ponzi
schemes don’t promise that!’
I assumed we would be thrown out of the office at this point, but
Mr Totti was clearly having fun. He was almost relieved that someone
had challenged him and we ended up spending two hours in his office
discussing how much market correlation there is in many funds even
if they go to great lengths to disguise it. When we finally got up, Mr
Totti said he had enjoyed the meeting and would make sure that his
firm gave us a close look. To ...