Skip to content
Subscriber Only

Value Investing Claims Another Casualty as $5 Billion SPO Shuts

  • Founder started in 1969, firm once managed Bass family money
  • Value investors including Einhorn, Lampert have struggled

The value-investing discipline pioneered by Benjamin Graham and Warren Buffett is claiming another casualty.

SPO Partners & Co., a $5 billion firm that’s managed money for almost five decades, is closing, according to an investor letter viewed by Bloomberg. The company -- whose clients once included the billionaire Bass family -- will return about a quarter of its assets next month and most of the rest early next year.