Subject: Re: OT-Guy Spier’s Aquamarine Fund
What has guy’s record been net of fees?

I had looked into this a while back and the answer is long term underperformance. He is a good teller of stories in the Buffett style to those that value that sort of thing but his anointed "guru" status is more a product of marketing via blogs and books to a receptive crowd than anything justified by investment performance. In addition, I got the impression that he has few original ideas.