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A Q&A with Portfolio Manager Daniel Kane
Dan, happy 16-year Artisan anniversary. You joined Artisan during the ’08-’09 financial crisis. I’m sure you have some great stories to tell from those days. What was it like to start your Artisan career at that time?
Was Sisyphus a Value Investor?
“I leave Sisyphus at the foot of the mountain! One always finds one's burden again. But Sisyphus teaches the higher fidelity that negates the gods and raises rocks. He too concludes that all is well. This universe henceforth without a master seems to him neither sterile nor futile. Each atom of that stone, each mineral flake of that night filled mountain, in itself forms a world. The struggle itself toward the heights is enough to fill a man's heart. One must imagine Sisyphus happy.” —Albert Camus, The Myth of Sisyphus, 1942
The plight of Sisyphus is not wholly unfamiliar to value investors. And so it’s reasonable for these investors to ask themselves: Are we like Sisyphus?