Our Founder
“ Teamwork at DF Dent and Company, as on the trail, is the blending of individual strengths to achieve a common goal. “
– Martin Buser
4 time Iditarod Champion
Daniel F. Dent, CFA
Passionate, Determined and Driven.
In 1995, Dan met Joe Redington, Sr., “The Father of the Iditarod.” Joe inspired Dan to get involved in running Alaskan sled dogs thousands of miles, in numerous qualifying races culminating in competing twice in the Iditarod. Dan completed the 2000 Iditarod crossing 1,131 miles of Arctic Tundra in just over 14 days. In early 2012, Dan mushed his last sled dog race on the Iditarod Trail and included the lessons he learned (below) as they applied to his investment management philosophy in a 2012 DF Dent client letter.
PHOTO: Daniel F. Dent at the 2000 Iditarod Trail Sled Dog Race
Lessons My Sled Dogs Have Taught Me about Investment Management.
1. When conditions worsen and the outlook is bleak, do not panic and attempt to do something different. Instead, stick with your team’s plan. It’s when conditions are worst that they begin to improve.
2. Trust your leaders! In most cases, the contribution to performance of a portfolio’s top holdings significantly exceeds their portfolio weightings.
3. Be prepared for the unexpected. It will happen! Preparation is critical in stock selection and training a team.
4. Stay focused. Thinking about unrelated issues neither contributes to investment returns nor gets your team down the trail.
5. Run your team’s best race and disregard what others are doing. Worrying about what others are doing in the market contributes nothing to the portfolio’s return and does nothing to help your team do its best.
PHOTO: Daniel F. Dent at the 2000 Iditarod Trail Sled Dog Race. Courtesy of Bob Hallinen, Anchorage Daily News.
6. Keep going and never look back! This was advice given to me early by another musher. “Rear view mirror” driving never helps one get where one wants to go. An investment manager must always think about where the portfolio companies are going, not where they have been.
