«My time on Wall Street was like a poisoned candy»

«My time on Wall Street was like a poisoned candy»

Guy Spier, the investor who came to pay $ 650,100 for sharing a three-hour meal with tycoon and philanthropist Warren Buffet for his admiration for him, has just presented his book "The education of an investor in value", a book that he describes as "autobiographical" and with which he wanted to share the errors that, he argues, "come with success": "There are many books that explain how to invest and I wanted to focus on highlighting the importance of prioritizing ethics on profit promoting healthy morals, developing lasting relationships with clients and investors and focusing on a single portfolio ». Spier thought that Buffett could provide him with the tools to transform himself from an "unsatisfied investor to a happy and down to earth one." When he read "The Intelligent Investor" by Ben Graham and Warren Buffett he decided to change his way of working forever. «I discovered that business is not only" if I win, you lose ", but I learned that we can all win. The philosophy of an investor in value like Buffet can help you avoid unethical behavior when investing ».

With 28 years and after graduating in Politics, Philosophy and Economics at the University of Oxford where he shared a desk with the former Prime Minister of the United Kingdom, David Cameron, he began his professional career at an investment bank in New York where he left after 18 months, "terribly disappointed». "I became arrogant, I wanted to earn as much money as possible in the shortest time possible, forgetting ethics. I thought that with my "elite" education I would be very successful. The movie "The Wolf of Wall Street" by Martin Scorsese, reflects very well the way you work in these banks, treating customers like stupid people, lying to them to invest more and more. On Wall Street it was said that "if you want a friend, buy yourself a dog". That job was like receiving a poisoned candy and I left it, I understood that it was not the way I wanted to live my life ». From that moment, Spier learned the best way to achieve success, using ethics, personal experience and hard work. He began to analyze why invest in certain societies. "People who invest in shares can not be successful if they do not analyze the values ​​of the company in which they are putting their money. 20 years ago there was no talk about it ».

The author also talks in his book about people who think he will succeed simply because he is intelligent. «I describe that we should not look for the best decisions in our intelligence, but in what revolves around us, the family, our attitude, etc. looking inside My success has not come from having received a good education, but from what I learned from life. Business schools and elite universities help students develop specific technical skills based on theories, but these do not take the real world into account, since you never have the ideal environment or the perfect amount of information. They focus too much on rationality, neglecting critical thinking and the power of intuition. "

When Spier began to be an investor in "value," he wrote many "thank-you" cards to people who had helped him professionally. Currently, he directs, from his residence in Zurich, the Aguamarina Foundation, an investment company that has 250 million dollars in assets.


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