Nov
12
Huge Valeant Stake Exposes Rift at Sequoia Fund
By
Warren Buffett, who once favored Sequoia, with Sharon Osberg, an ex-director. CreditDan Winters
For more than four decades, the Sequoia Fund has been the envy of Wall Street, one of the rare funds to consistently beat the market. Known for its close ties to Warren E. Buffett, the fund at its peak managed more than $9 billion. It was in such demand that it closed to new investors in 2013, a move that enhanced its mystique.
That mystique has been shattered. Late last month, two of Sequoia’s five independent directors, Vinod Ahooja and Sharon Osberg, abruptly resigned, a rare and public sign of dissent within a mutual fund’s board…
Huge Valeant Stake Exposes Rift at Sequoia Fund
