Young Hedge Fund Manager Impresses Buffett, Earns Dinner With Oracle

Feb 16 2010 | 3:43am ET

A young New York hedge fund manager managed to impress one of the smartest guys in the investing world.

In a story that she’ll likely retell hundreds of times to potential investors, Permian Investment Partners founder Cara Goldenberg sent Warren Buffett some holiday reading material: Her reasons for investing in the top 10 stocks in her fund’s portfolio. The Oracle of Omaha responded with an invitation to dinner.

Goldenberg, who is a full half-century younger than Buffett, heard that the legendary investor likes to research investment ideas over the Thanksgiving weekend, so she sent hers along. The Berkshire Hathaway founder must have been impressed, bringing Goldenberg and her partner, Alex Duran, to Omaha for a discussion and dinner—and a photo, with Goldenberg gripping Buffett’s wallet, posted (where else?) on her Facebook profile.

Goldenberg and two colleagues from Brahman Capital founded Permian 18 months ago, Bloomberg News reports. The value-oriented firm invests primarily in undervalued Western European companies, and boasts $100 million in assets under management.

By contrasts, Berkshire Hathaway is worth more than $170 billion.

Goldenberg worked as a private equity analyst at Morgan Stanley and at Highbridge Capital Management before joining Brahman. She became the youngest partner at the firm and managed $2 billion in European stocks.

The precocious 29-year-old has been mum on her ideas and what she and Buffett talked about over dinner. But the value investor certainly managed to wrangle a deal: Lunch with Buffett has gone for an average of $1.9 million in each of the last two years as part of a charity auction.


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