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One-Man Equity Shop Returns 256% Since 2012 Without FAANGs

  • Tangible’s Tanne has stuck to unpopular, obscure investments
  • Market-beating returns for billionaire have led to new clients
Capsules of fish oil
Photographer: Chris Ratcliffe/Bloomberg
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Jonathan Tanne first heard about Amarin Corp.’s fish-oil pill in 2016. He met its chief executive officer, spoke to cardiologists and parsed academic papers before deciding in 2017 the company was onto something. He gradually built up a position in the stock. Then in 2018, it popped 239 percent as a study showed the drug helped reduce the risk of heart attack and stroke.

Similar big bets on shares of undervalued and unpopular companies have helped Tangible Investment Management return 256 percent since its founding in 2012 with a buy-and-hold strategy. He doesn’t use borrowed money to juice returns and doesn’t bet on stocks declining.