Sam Colin is a value-oriented stock picker whose primary goal is to preserve and grow clients’ capital by focusing on companies with highly favorable risk/reward relationships. This attention to downside risk provided his client portfolios with meaningful protection in 2008 and, in his view, such attention remains a critical element in navigating periods of market turbulence (past performance does not guarantee future results).
Sam joined First Manhattan in late 1994 and became a Partner in 1998. With over 20 years of experience as a Research Analyst and Portfolio Manager, Sam has learned from both his successes and his mistakes. Sam conducts intensive due diligence on portfolio companies, and their competitors, to obtain a deep factual foundation upon which to analyze the risks and opportunities of potential investments.
In addition to his experience in investment management, Sam is also a trained physician, having completed his medical training at the Yale University School of Medicine. Before completing his residency training at Yale-New Haven Hospital, Sam joined First Manhattan in 1994. He believes this background in basic science and clinical medicine provides an edge in healthcare investing. He regularly consults with thought leading physicians and industry experts to leverage his medical training as the sole Portfolio Manager of First Manhattan’s healthcare specific private investment funds, First BioMed and First Health.
Portfolio Construction and Management
First and foremost, Sam is concerned with capital preservation. Client portfolios are tailored to their individual needs and risk tolerance.
Sam’s portfolios typically consist of approximately 25 stocks characterized by:
- Strong management, with a track record of disciplined execution.
- Good businesses selling at reasonable prices.
- Mispriced securities that are off the collective radar screens of sellside analysts.
- Special situations, including corporate restructurings and spin-offs.
- Companies that have catalysts for value creation such as new product pipelines.
- Bargain opportunities that arise from disorderly selling in turbulent markets.