“I am a better investor because I am a businessman. And I am a better businessman because I am an investor.” – Warren Buffett
Early in his career, Michael Lee-Chin concluded that if he was to be successful in the world of investing he should study and emulate the best – Warren Buffett. Mr. Buffett, Chairman of Berkshire Hathaway, is regarded as the world’s greatest investor. Following Mr. Buffett’s value investing methodology was a decision that continues to serve Michael, his associates, and AIC investors very well.
Today, AIC is one of Canada’s largest privately held mutual fund companies, growing from less than $1 million to having billions in assets under management. AIC Advantage Fund, for which Michael has been Lead Portfolio Manager since its inception, has the distinction of being one of the best-known Canadian equity funds over the last 20 years. And much to the appreciation of many of his average-earning clients, Michael’s investment advice during his years as a financial advisor has helped a number of AIC investors to become millionaires.
Like his role model, Michael’s investment philosophy is firmly rooted in the proven principles of value investing:
- Invest in businesses you understand – Financial services has long been the focus of Michael’s expertise. Michael is intimately knowledgeable about this sector having worked in financial services for decades and, through his role in Portland Holdings Inc., Michael also serves as Chairman of the National Commercial Bank of Jamaica;
- Invest in a limited number of quality companies that operate in strong, enduring growth industries – The majority of AIC Funds have less than 25 holdings in their portfolios and the Funds Michael oversees follow this framework; and
- Invest for the long term – History has shown that the markets have favoured the patient investor over the restless speculator – Michael’s portfolio turnover rate is one of the lowest in the industry which contributes to the tax efficiency he seeks for investors.
Entrepreneur, financial advisor, portfolio manager, philanthropist – Michael has been profiled in Forbes, Fortune, Canadian Business, Black Enterprise, National Post and Time magazines.
Michael has also been duly recognized for his success and generosity. In 2002, he earned the Harry Jerome Award for a decade of achievement. He has received Honorary Doctorates from the University of Toronto, North Caribbean University, McMaster University, and Wilfrid Laurier University. In 2008, he received the Order of Jamaica – one of the country’s highest national honours – for outstanding service in business and philanthropy.
