2025-12-08
30 分钟Back in 2006,
Daniel Sheard was working as an asset manager in London when he heard from an old colleague with a new opportunity.
We met up at a coffee shop in the Royal Exchange in the heart of the city and he was looking for a co-manager to help him run a significant pool of money.
At the time it was about 3 billion euros with a pretty much go anywhere mandate.
Sounded a lot of fun.
This old colleague was a guy named Tim Haywood.
I'd known Tim many years before and we'd got on and that combined with sort of the bureaucracy and slow-moving nature of where I was working at the time really was,
it was an attractive offer.
So Daniel took the job and for a while he was happy in this new position.
He says that he and Tim grew to be seen as guardians of this fund that they ran together.
There was a standing joke within the sales and marketing team that we were basically the mother and the father of the absolute return fund.
And you know how husband and wife argue.
Well, sometimes we argued, but usually I won.
Though they'd known each other for a long time,
Daniel says he felt like they approached their work differently.
Tim was very much a risk taker.
Tim was always looking for the outside odds opportunity.
Very much like an equity investor looking for the fabled 10 bagger.
So very perhaps diametrically opposed approaches to investment.
But perhaps that's why we work together so well such a long time.