Missionaries and Mercenaries

Jun 12, 2021 by
Pete Kremer

Alex Rodriguez described selecting investment partners as searching for missionaries and not mercenaries. His partner on the Minnesota Timberwolves purchase and VCP Fund, Mark Lorie, used the same expression on Guy Raz’s How I Built This to describe how he felt after selling Jet.com to Walmart (a missionary) and diapers.com to Amazon (a mercenary). That got me thinking about how to uncover the difference between missionaries and mercenaries among investment managers

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