Herb Wagner – Opportunistic Value at Finepoint Capital (EP.460)

In this episode of Capital Allocators, Ted Seides interviews Herb Wagner, the managing partner of Finepoint Capital, a $4 billion opportunistic value hedge fund. Herb discusses his early life and career, including formative jobs and influential mentors like Seth Klarman and David Tepper. The conversation explores the evolution of value investing, Finepoint's investment strategies—emphasizing wide sourcing, deep research, and catalyzed opportunities—and current investment opportunities in Japan and reinsurance. Herb shares his insights on adapting to market changes, the importance of leadership assessment, and risk management, providing a comprehensive view of Finepoint's approach to compounding capital over the long term. The episode also touches on Herb's involvement in the Boston Red Sox and his philanthropic work through his foundation.