David Abrams, who manages nearly $9 billion with his fund Abrams Capital, rarely makes public appearances.
He told attendees at a New York conference on Friday that while a short-term-only focus from investors will only end up hurting a company long-term, managers can actually be too patient.
"The long term is made up of a lot short terms," said Abrams, who is a protegee of Baupost's Seth Klarman.
He derided investors that look for the easy way out, saying there's "no algorithm" for...
The world's largest asset managers are sitting on the sidelines of the US marijuana industry.
Marijuana is federally illegal in the US. That means that custodian banks are generally reticent to clear stocks of marijuana companies that have US operations.
That could change with the passage of the States Act, which securities lawyers say would give enough clarity around how the federal government will treat the nascent sector for banks and asset managers to do business.
BlackRock, the world's...
Hedge fund manager David Abrams says that while Google is "making more money than they know what to do with," it will not be the powerhouse in 20 years that it is now.
Complacency, Abrams said, can hurt companies that make it to the top.
Even companies that are aggressive about growing can lose ground. "I don't think Facebook is being accused by anybody of being complacent," he said.
Even the most successful companies can't rest on their laurels.
So says David Abrams, managing partner of $8.7...