Chapter 6. Ramblin' Jack
Investor: Jack Weyland
Date of Birth: April 12, 1977
Hometown: Reno, Nevada
Personal Web Site: None
Employment: Full-time investor, former truck driver
Passions/Pursuits: Music, sports fan
Investment Strategy: Value investing, biotech stocks
Brokerage Accounts: Scottrade
Key Strategy Metric: Cash
Best Pick: Iomai, Up 573 percent
Worst Pick: Medivation, Down 63 percent
Performance Since July 2002: Average annual return of 36 percent versus 7 percent for the S&P 500
When Jack Weyland was a trucker driving thousands of highway miles each week, he often encountered dense early morning fog in central California. It's called tule fog, and it's the leading cause of weather-related casualties in California. It is the kind of fog that paralyzes most drivers forcing them to pull off the road.
But when you get paid to haul tractor-trailers full of merchandise, time spent sitting on the side of the highway is dead time. So you learn how to cope with the fog. Weyland found that music helped calm him, getting him into a zone while driving through the fog.
"You slow down. You don't use your brights, and you keep a good distance from the red lights in front of you," says Weyland, who would drive with a heightened alertness for hazards in the mist. "I would always make it to my destination."
In many ways Weyland's approach to California's fog is an appropriate metaphor for his approach ...