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Meet Alan Miller, also known as "Mr Hedge Fund"
Alan Miller is becoming a controversial figure in finance. He made his name in fund management and has become known as "Mr Hedge Fund" in the UK after starting one of Britain’s first hedge funds in 1997, which averaged over 17 percent per annum over near ten years. When he left New Star Asset Management in early 2007, he had made more than GBP 30 million. Now he's trying introduce a new way of running funds that are more transparent to investors.
So what was behind the success? Alan explains to Saxo TV's Lea Jakobiak that when it comes to investing, he tries to start "with a clean piece of paper, to try and hedge out what he is not good". He also chooses to concentrate on stock picking rather than "guessing other variables". In addition, Alan adds he always ran the hedge fund conservatively but says the main thing was that he had a concentrated portfolio of stocks which "tend to be undervalued for particular reasons".
Alan also doesn’t shy away from undervalued stocks, quiet the opposite. In fact he often believes the market loses its sense of perspective and "tends to get quite emotional". He prefers to buy a stock or an asset class at a very low valuation because people tend not to look at the important factors which will deliver results over the long term. Instead, people focus on the news flow and all the "noise" and that’s where Alan likes to come in, and make a profit.
03:16 minutes
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