Mark Holowesko on Leaving Templeton to Focus on Value Investing

Founding Holowesko Capital Management

• 💡 After managing large funds at Templeton (around $15 billion each for the Templeton Foreign Fund and Growth Fund), Mark Holowesko sought a lifestyle change to focus on stock picking and money management.
• 🎯 The vision was to start a firm with a small group of individuals and clients, concentrating on global equity intrinsic value, independent of indices.
• 🚀 Holowesko aimed to run global long-short and long-only funds, focusing on long-term perspectives and stock-specific opportunities.

Investment Philosophy and Client Base

• 🔑 The firm has intentionally maintained a small client base, never exceeding 20 relationships, with most staff joining from Templeton.
• 💰 The focus has primarily been on value investing, though Holowesko acknowledges the importance of encompassing growth at a discount.
• 📈 He believes the trend has shifted back towards value outperformance since interest rates bottomed, viewing the recent outperformance of growth as an aberration due to increased liquidity.