Francisco García Paramés

Francisco García Paramés
Born (1963-12-22) December 22, 1963
Galicia, Spain

Francisco García Paramés (born in Galicia (Spain), 22/12/1963) is a Spanish Fund manager.[1] In 1989 he incorporated Bestinver Asset Management, from Acciona.

Self-taught, his management style is based on the strict application of the principles of the school of Value Investing (Benjamin Graham, Warren Buffett , Peter Lynch ) , under the Austrian Business Cycle Theory.

He graduated in economics from the Complutense University of Madrid and has MBA from IESE Business School (University of Navarra..

On March 7, 2006 he suffered a serious plane crash where he saved the life[2] of other executives from the same company. The pilot of the private plane and the CFO of Bestinver died in this accident.

Francisco García Paramés left Bestinver in September 2014 to start a new venture having worked at the company for more than 25 years. Before resigning he tried to buy Bestinver,offering 500 Million euros to the Entrecanales family. During his many years as Bestinver CEO he earned between 16 and 20 Million euros per year.

Biography

In 1989, after finishing his MBA at the IESE Business School, he joined Bestinver an investment subsidiary of Acciona where, after two years as a Spanish stocks analyst, he begun to manage portfolios and funds.

His career as an investment manager could be summed up by the yield obtained by his Spanish equity funds in the period 1993-2007 which tripled the benchmark IGBM. In 1997 he also began to manage international equities, getting placed in leading positions in the market of foreign funds marketed in Spain, with an accumulated profitability from 1998-2007 seven times superior to the benchmark MSCI World Index. Thanks to its performance, Paramés has succeeded in turning Bestinver in the European benchmark of Value Investing.

Paramés is known in the financial world by the strong belief he keeps in his investment philosophy, which prevented him from investing in technology stocks in 2000 or in companies in the banking and real estate sector in 2007. Shortly given out to the press, each year brings together investors in a conference (similar to the one that Warren Buffett offers in by Maha (Nebraska)) which along the other two fund managers of Bestinver, Álvaro Guzmán de Lázaro and Fernando Bernad Marrase he explain the yearly performance.

In 2014 he quit Bestinver to start a new fund. His non-compete clause was 2 years. In 2016 his book on value investing: "Invirtiendo A Largo Plazo" (Investing for the Longterm) was published. ISBN 978-8423425679

References

  1. ↑ "Francisco García Paramés | Fund Manager Fact Sheet | | Citywire". citywireselector.com. Retrieved 2016-07-28.
  2. ↑ País, Ediciones El (2006-03-07). "Identificados los dos fallecidos en el accidente de avioneta ocurrido en Navarra". EL PAÍS (in Spanish). Retrieved 2016-11-25.

External links

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