In today’s edition of the Investment Talk Guest Interview series, we have the co-founder and lead portfolio manager at Saga Partners, Joe Frankenfield.
I first stumbled across Joe, and the Saga team, in early 2020 after reading one of their quarterly letters (see here) and found that their style resonated with my own. I have been an avid reader ever since.
In today’s interview, we cover a broad range of topics including some great insight into the dynamics of launching and operating a fund with respect to everything from the mentality required, the pressures, the importance of investor alignment, and some mistakes made along the way.
We also touch on what it really means to be a ‘long term’ investor, when to approach selling decisions, and concentration, as well as whole lot more.