The Market Masters
Chapter One
MANU DAFTARY
DG Capital Management
When Manu Daftary arrived in the United States from his native India in
the 1980s, he never imagined he'd one day be overseeing huge sums of
money. After several years of analyzing and selecting investment managers
to run college endowments, Daftary was handed a stock portfolio to run
on his own. Since he had long observed the styles and techniques of the
country's leading money managers, he brought what he considered to be
their best practices together in forming the foundation of an investment
strategy he continues to follow today.
Daftary, 47, ultimately started his own investment firm in Boston in
1996. He is also subadvisor to the top-performing Quaker Aggressive
Growth Fund. Daftary's core beliefs are that earnings drive stock prices,
companies with earnings surprises tend to outperform the general market,
and avoiding downside volatility is the key to long-term outperformance.
Daftary is an opportunistic investor and enjoys wide discretion when it
comes to running his fund. For instance, he is allowed to raise as much
cash as he wants, is free to buy companies of all sizes, and can even short
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