Abrams Capital Management

David Abrams

David Abrams runs Abrams Capital Management, a Boston investment firm he founded in 1999. He drifted into finance almost by accident: he graduated from the University of Pennsylvania with a degree in history and has said he entered investing "unplanned," knowing little about stocks or bonds. He learned the trade in merger and risk arbitrage in New York before joining the Baupost Group in 1988, spending a decade there under value investor Seth Klarman, the mentor whose philosophy Abrams would carry into his own shop. Abrams Capital is a deep value firm in the Klarman mold. Abrams favors a small number of concentrated, high-conviction positions in businesses he thinks others have mispriced or misunderstood, and he typically runs the book without borrowed money. He is known for patience, content to hold a small portfolio and do nothing for months — even park cash — when the right opportunity is not there. The firm keeps a deliberately low profile; Abrams has shrugged off the label of a "one-man wealth machine" while staying out of the spotlight.

based on 29 of 134 closed positions