Veteran hedge fund manager Guy Spier is returning capital and closing his Aquamarine Fund, pointing to both personal considerations and mounting structural challenges facing active equity managers, according to a report by Investing.com.
The Zurich-based investor, known for his value-oriented approach and long-standing association with Warren Buffett, said the traditional edge in fundamental stock selection has diminished as artificial intelligence accelerates the commoditisation of research.
Si...
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