David J. Winters
Encyclopedia
David J. Winters is a deep value investor
and fund manager in Maine
.
's tenure. Heine died the next year, so David was mentored in value investing by Michael Price
. One key component of his value investing methodology is not to just buy at a discount, but to help management unlock that potential value as an active investor. He also looks for value where others don't want to look and is willing to go the extra mile in finding ways to invest money.
He was named Director of Research of Mutual Series in 2000 and President and CIO
in 2001. During his time with Franklin Mutual Advisors
, he was also the portfolio manager of the Mutual Discovery Fund from February 2000 to May 2005.
After leaving Mutual Series in 2005, David formed Wintergreen Advisers and the Wintergreen Fund in Maine
, USA. The companies are named after the official state herb of Maine, the wintergreen
. He was encouraged by others to open a less-regulated hedge fund
, but opted to run a comparatively strictly regulated mutual fund
. He said in his characteristic nice guy manner that:
"Mutual fund is a truly democratic way. You can invest your friends' money. It is nice to be able to do a nice job for people who need the money."
As of October 2006, David is also currently a sub-advisor for the Renaissance Global Market Fund, operated by CIBC Asset Management. In December 2006, Winters was selected as one of four participants in the tenth annual global investing round table hosted by the International Herald Tribune
.
sets to riding real trains, and has since he was young. He also idolized value investor and future employer Max Heine during his younger years, keeping a news article about him taped to his dorm room wall in college.
Value investing
Value investing is an investment paradigm that derives from the ideas on investment and speculation that Ben Graham and David Dodd began teaching at Columbia Business School in 1928 and subsequently developed in their 1934 text Security Analysis...
and fund manager in Maine
Maine
Maine is a state in the New England region of the northeastern United States, bordered by the Atlantic Ocean to the east and south, New Hampshire to the west, and the Canadian provinces of Quebec to the northwest and New Brunswick to the northeast. Maine is both the northernmost and easternmost...
.
Biography
David joined Mutual Series in 1987, during Max HeineMax Heine
Max L. Heine was a value investor and fund manager in New York.-Biography:A Jewish law student in Berlin, Max fled Nazi Germany in the late 1930s for New York, where he found work in a department store...
's tenure. Heine died the next year, so David was mentored in value investing by Michael Price
Michael Price
Michael F. Price is a value investor and fund manager in Far Hills, New Jersey.-Career:He began his career in 1973 when he joined Max Heine at Mutual Series. In 1982, he became a full partner and when Heine died in 1988, became the president and chairman. In 1996, Mutual Series was merged into...
. One key component of his value investing methodology is not to just buy at a discount, but to help management unlock that potential value as an active investor. He also looks for value where others don't want to look and is willing to go the extra mile in finding ways to invest money.
He was named Director of Research of Mutual Series in 2000 and President and CIO
Chief information officer
Chief information officer , or information technology director, is a job title commonly given to the most senior executive in an enterprise responsible for the information technology and computer systems that support enterprise goals...
in 2001. During his time with Franklin Mutual Advisors
Franklin Templeton Investments
Franklin Resources Inc. is a holding company which, together with its subsidiaries, is referred to as Franklin Templeton Investments; it is an investment firm originally founded in New York in 1947 as Franklin Distributors, Inc. It is listed on the NYSE under the ticker BEN, in honor of Benjamin...
, he was also the portfolio manager of the Mutual Discovery Fund from February 2000 to May 2005.
After leaving Mutual Series in 2005, David formed Wintergreen Advisers and the Wintergreen Fund in Maine
Maine
Maine is a state in the New England region of the northeastern United States, bordered by the Atlantic Ocean to the east and south, New Hampshire to the west, and the Canadian provinces of Quebec to the northwest and New Brunswick to the northeast. Maine is both the northernmost and easternmost...
, USA. The companies are named after the official state herb of Maine, the wintergreen
Wintergreen
Wintergreen is a group of plants. Wintergreen once commonly referred to plants that continue photosynthesis throughout the winter...
. He was encouraged by others to open a less-regulated hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
, but opted to run a comparatively strictly regulated mutual fund
Mutual fund
A mutual fund is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities.- Overview :...
. He said in his characteristic nice guy manner that:
"Mutual fund is a truly democratic way. You can invest your friends' money. It is nice to be able to do a nice job for people who need the money."
As of October 2006, David is also currently a sub-advisor for the Renaissance Global Market Fund, operated by CIBC Asset Management. In December 2006, Winters was selected as one of four participants in the tenth annual global investing round table hosted by the International Herald Tribune
International Herald Tribune
The International Herald Tribune is a widely read English language international newspaper. It combines the resources of its own correspondents with those of The New York Times and is printed at 38 sites throughout the world, for sale in more than 160 countries and territories...
.
Personal
He loves trains and railroads, from toy trainToy train
A toy train is a toy that represents a train. It is distinguished from a model train by an emphasis on low cost and durability, rather than scale modeling. A toy train can be as simple as a pull toy that does not even run on track, or it might be operated by clockwork or a battery...
sets to riding real trains, and has since he was young. He also idolized value investor and future employer Max Heine during his younger years, keeping a news article about him taped to his dorm room wall in college.
External links
- Wintergreen Fund home page
- Guru Focus David Winters Portfolio Holdings and Stock Picks
- Franklin Templeton home page