
Getting fully examined
A $100-million near miss
By its third year of operation in 2005 Holte Capital was managing close
to $300 million and was decidedly the real thing. Long gone were the
reservations about my being too young to run a portfolio. Those who
had tracked us for a while were getting comfortable with the consistency
of our approach and analysis. We were delivering returns that were
uncorrelated to the markets and although the return profile was boring
we could justifiably claim that we were slowly augmenting our risk
profile, making it more interesting for our investors.
One of the largest US banks had been