Francisco Garcia Paramés is in the eye of Spanish investors. What he says or does is holy word. Who is it? Why are they given so much importance to his advice?
Garcia Paramés is Spanish -was born in La Coruña in 1963 – and is a graduate of the University Complutense of Madrid. His fame is won through the years. His first step was in The English Court, in 1986. Three years later, in 1989, he joined the asset manager of investment Bestinver Asset Management.
it was First an analyst and then an asset manager. And there started his fame. His strategy was to seek companies with low stock value and endure. Is, neither more nor less, something that also knew how to do Warren Buffett, the renowned us investor, leading to the popularity of that style as “value investing”.
Meanwhile, the legend grew and investors saw the fund that he directed Garcia Paramés also did. The numbers guarantee it. The assets of variable income your fund earned an average annual return of 15.7 per cent between 1993 and 2014, while the General index of the Madrid Stock exchange had a 7.8 per cent. These figures represent an appreciation of accumulated 2.279,2% in the funding of Bestinver.
And not only because of the good results García Paramés woke up the applause of the market. He knew how to dodge two market crisis: first, that of the .com; then, the subprime mortgage. By that time, the newspaper The Financial Times called as the “Warren Buffett Spanish”.
García Paramés, the father of five children, was on the verge of death. In 2006, was aboard a small plane that crashed and killed two occupants. As they say, since he sees life in a different way, with the eyes of someone who was able to return to start.
In 2014, hit the slam. Decided to leave the asset manager that saw him grow up generated an effect of “run” in your own company, as many investors began pulling out their money waiting for news of García Paramés.
he Had to wait two years -had signed a contract of non-competition with its former employees – to create your new asset management company. That time has devoted himself to writing. “Inviertiendo long-term” is his new book and promise to be a best-seller among the followers of the topic.
For their part, investors, economists and savers are close to García Paramés, the Warren Buffett” Spanish.
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