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Portfolio Assistant

  • Wendy Kelsey
  • 212.756.3419

Paul E. Patrick

Managing Director, Portfolio Manager

28+

Years of
Experience

21+

Years at First
Manhattan Co.

Paul Patrick is a Managing Director and Portfolio Manager with more than 20 years of investment research and investment management experience. He manages accounts for individuals, families, trusts, IRAs, partnerships, foundations, and corporations, working closely with Leonard Berman and Simon Porter to provide a comprehensive solution set for clients.

Prior to joining First Manhattan Co. in 1999, Paul worked at Prudential Securities as an Equity Research Analyst specializing in the hotel and casino sectors. Before that, he was at Ernst & Young, where he audited the financial statements of publicly-traded companies of all sizes and across a diverse set of industries.

Paul holds an MBA from Rutgers Graduate School of Management and a BA from Rutgers University. He is a Certified Public Accountant (CPA).

Portfolio construction and management

Paul is a "bottom-up" stock-picker who uses a fundamentally-oriented, research-intensive process to carefully analyze and value potential investments. As a prudent, rational, and patient investor, he uses a strict set of criteria to select 20 – 30 stocks that, in his view, possess the best risk/ reward parameters.

For each new investment he makes, he typically analyzes dozens of alternative ideas and carefully weighs the downside risk of each. Additionally, as part of his portfolio management strategy, Paul generally holds a relatively significant amount of cash. This enables him to be prepared for opportunities that can occur when stock prices decline.

When evaluating potential investments, Paul looks for:

  • Good, easy-to-understand businesses.
  • Talented, shareholder-oriented managements that are skilled and prudent capital allocators.
  • Companies with strong financial health.
  • A margin of safety. Specifically, he looks for stocks that are trading at prices below his assessment of future intrinsic value.
  • A potential catalyst that would cause the stock price to trade up to its "true"—or intrinsic—value.

Portfolio Assistant

  • Wendy Kelsey
  • 212.756.3419
Patrick Berman Porter FMC

Pictured from left to right: Paul Patrick, Leonard Berman, and Simon Porter

The money you entrust with me will be managed in a rational, disciplined, and prudent manner.