Tuesday, 24 May 2016
Last updated 1 hour ago
Nov 22 2010 | 9:07am ET
Daniel Maarsman, a California money manager with almost 50 years' experience, is set to try his hand at running a hedge fund—at the age of 76.
Maarsman has founded Entrepreneurial Capital Partners and plans to launch his first hedge fund next month. He told the Palm Springs Desert Sun that he'll try to improve on the "lousy returns" posted by many hedge funds with his "different" approach to research based on his decades of "hard-knocks" experience.
Among Entrepreneurial's plans are site visits to portfolio companies and some measure of shareholder activism.
The new fund will invest about 60% of its assets in publicly-listed stocks, with 25% invested in private companies, 10% in commodities and 5% in convertible bonds.
Bank of America Merrill Lynch is Entrepreneurial's custodian and prime broker.