In the last 10 years, hedge fund investor Adam Wyden made his investors 11 times richer, and made $100 million for himself, by uncovering hidden stock gems. His biggest worry? That his father, Oregon Senator Ron Wyden, will tax his gains to death
Adam Wyden’s hunt for hidden gems like Ferrari has given him a leg up on the S&P 500. In his Miami garage, however, he prefers Porsches. (He has no interest in the stock of Porsche’s parent, VW. It’s government-backed and made by a unionised workforce.)
Image: Mary Beth Koeth for Forbes
From the sun-drenched house he’s renting in the ritzy Miami enclave of Bay Harbor Island, Adam Wyden is livid at the news crossing his Bloomberg terminal. It’s April 22, and markets are sinking on a report that President Biden aims to raise capital-gains tax rates to 39.6 percent for high earners, effectively doubling the rate for rich investors.
“It’s anti-American!” Wyden bellows. “I’m very disappointed with American governance right now. Do you think any of these guys actually know what they’re doing?”
Wyden buys companies full of underappreciated assets. He prefers micro- and small-cap stocks ignored by analysts and large hedge funds
(This story appears in the 16 July, 2021 issue of Forbes India. To visit our Archives, click here.)