Sapiens Fund
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Fund Culture

11 Commandments

These rules give structure to our investment process: clear thesis, clean risk work, and team accountability.

  1. Thou shall not skim off the top [fees]
  2. Thou shall make an upside presentation when selling
  3. Thou shall accept that thou shalt be wrong at least one-third of the time
  4. Thou shall look for hidden PE of 1 stocks
  5. Thou shall never use Excel
  6. Thou shall always have a rope to climb out of the deepest well
  7. Thou shall be singularly focused
  8. Thou shall never short a stock
  9. Thou shall not introduce leverage
  10. Thou shall be a shameless cloner
  11. Thou shall let the Chief Investment Officer decide