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The Mill, Suite 5

381 Brinton Lake Road


Thornton, PA 19373
610-361-1000 x102
www.brandywine.com
joe@brandywine.com

Brandywine Update
November 2019
Brandywine Reaches $1 Billion Milestone
in Assets Under Advisement

Brandywine’s expanded service offerings Current Engagements


In July of last year Brandywine expanded our service Brandywine is currently working with family office clients
offerings to include providing research, analysis, portfolio on the following engagements. Brandywine not only consults
planning and management assistance to family office CIOs, but also executes on its recommendations to:
while continuing to develop and manage Return Driver based • Create a customized hedge solution to mitigate the
investment programs for both individual and institutional risk exposure in a long-biased hedge fund portfolio.
investors.
• Evaluate diversification options for a sizable cash
The result has been a rapid increase in Brandywine’s position (as a percentage of the clients’ portfolio).
assets under advisement and management to more than $1
billion today. • Review 3rd-party tactical trading strategies designed
to compliment existing long equity exposure.
This growth is the result of the broad range of expertise
Brandywine is able to provide to its clients. This is based on • Invest the proceeds from a corporate sale with the
Brandywine’s four decades of research and trading objective of preserving value across a range of
experience and the diverse experiences of Brandywine’s inflation and “worst-case” geopolitical scenarios.
principals. This experience is displayed in their bios below. Contact Brandywine for a complimentary initial consultation
regarding your investment portfolio needs or concerns.
Brief Biographies of Brandywine’s Principals
Michael P. Dever founded Brandywine in 1982. He is the Joseph W. Gabor began his financial career in 1992 as an
author of a best-selling investment book and a featured equity option clerk/market maker on the Philadelphia and
subject of three books. Mr. Dever is well-known for the American Stock Exchanges. He moved “upstairs” and at
performance of his futures investment programs, including Nomura Securities launched an advisory business that used
Brandywine’s Benchmark, Monetary and Symphony equity and index options to both add alpha and hedge
programs, which consistently outperformed the industry portfolios. Mr. Gabor was vice president of special situations
averages; and Brandywine’s market neutral equity program, at Lehman Brothers, where he co-managed an advisory group
which produced double digit annualized returns. on market neutral strategies and hedging. He then advanced
Mr. Dever became an Internet pioneer when he founded to becoming Partner and Managing Director at Cantor
Spree.com in 1996. Spree.com grew to become the 7th most Fitzgerald, where he advised hedge funds and family offices
trafficked ecommerce site by the fall of 1998. Among other on market neutral and hedging strategies.
accomplishments, Spree was the exclusive ecommerce part- Prior to joining Brandywine in January 2015, he was head
ner for the PGA Tour. Mr. Dever also founded InternetSeer, of equity capital markets at Miller Tabak & Company and
the world’s largest web site monitoring company, and led the Managing Director of Equity Capital Markets at Direct Access
company through to its successful sale in July 2007. Partners.
Mr. Dever is a board member of the National Futures Mr. Gabor’s 27 years of investment industry experience
Association CPO/CTA Committee, holds the Certified Financial provides him with a depth of knowledge in numerous areas,
Planner designation and has a B.S. in Business from West including structured products, futures and options, equities
Chester University. and equity derivatives, and market neutral strategies.
Fun Fact: as a high school pole vault coach, Mike produced Fun Fact: Joe was a 4-year academic scholarship recipient
three state medalists, including his sons Matthew and Charley at the University of Pennsylvania, and a defensive end on the
(now vaulting for the U.S. Naval Academy), an All-American Varsity football squad.
and the Pennsylvania all-time state record holder (17’-0”).

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THERE IS THE RISK OF LOSS AS WELL AS THE OPPORTUNITY FOR
GAIN WHEN INVESTING WITH BRANDYWINE. BRANDYWINE’S INVESTMENT PROGRAMS ARE ONLY AVAILABLE TO INVESTORS THAT QUALIFY
AS “QUALIFIED ELIGIBLE PARTICIPANTS” AS THAT TERM IS DEFINED IN CFTC REG. SECTION 4.7(a)(2) PROMULGATED UNDER THE COMMODITY
EXCHANGE ACT, WHICH ARE QUALIFIED TO INVEST IN THE PROGRAMS BY (a) THEIR KNOWLEDGE AND ACCEPTANCE OF THE RISKS 1
ASSOCIATED WITH HIGHLY LEVERAGED SECURITIES AND FUTURES TRADING AND (b) THEIR FINANCIAL ABILITY TO ACCEPT SUCH RISK.