We are pleased to bring you the following exclusive interview with Daniel Baldini, managing partner of Oberon Asset Management, based in New York City. Dan shares insights into the firm’s investment approach in a conversation with MOI Global contributor and former Barron’s columnist David Englander.
Prior to founding Oberon in 2001, Dan worked as an investment officer for the International Finance Corporation in Washington D.C. Before that, he worked for Electra Investment Trust in London. Dan holds an MBA from Stanford and is a CFA charterholder.
Oberon was established in 2002 and invest in what the firm believes to be good, growing companies trading at a discount to intrinsic value. Dan considers a company to be good when it has shareholder-oriented managers, the ability to earn an attractive return on capital, balanced relationships with customers and suppliers, and some protection from competition deriving from sustainable competitive advantage. Dan generally avoids companies with high leverage.
Many of the companies in which Oberon invests are small in terms of market capitalization. According to the firm, there are several reasons for this: First, there is a greater number of small companies. Second, there is a greater possibility that small companies may be undervalued from time to time. Third, small companies are often associated with higher rates of growth. Finally, small companies are more frequently acquired.
Access Dan’s presentations at MOI Global Online Conferences:
- Wizz Air: Taking Market Share, Growing Cost Advantage and Earnings
- HolidayCheck: Growth to Accelerate at Leading German Hotel Review Site
- School Specialty: Education Business with Hidden Growth Drivers
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