Making Money Even When Markets Are Down

The $86-million Vertex Fund is an opportunistic hedge fun that embraces several disciplines such as short-selling and leveraging

Michael Kane

Vancouver Sun

Monday, July 07, 2003

It is one thing to make money in soaring financial markets, another to make it grow when markets are down. Investors who can boast that they’ve done both over the past five years include those who bet on the three young money managers at the helm of Vancouver’s Vertex One Asset Management Inc.

Not that Vertex investors go around patting themselves on the back. They tend to be conservative types like West Vancouver’s Bob Stewart, the former CEO of Scott Paper. They have made their capital and are primarily interested in protecting it.

Most would subscribe to the wisdom of the legendary Columbia professor Ben Graham, who pointed out that the first rule of investing is: Don’t lose money. Graham’s second rule is: Don’t forget the first rule.

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