Biography for Douglas Makepeace
Personal & Education: Douglas Sperry Makepeace was born in
Professional: Mr. Makepeace's first real job was working as a salesman for IBM (UK) Ltd., the
. In 1977, Mr. Makepeace joined Merrill, Lynch, Pierce, Fenner and Smith, Inc. as an account executive in
New York City
.He moved to Bear, Stearns & Co.
worked for smaller brokerage houses from 1980 to 1983.
From 1983 to 1986, he
worked for a private money management and investment banking firm in
New York City
spent the next two years doing research on money managers and writing a 60-page book, A new way to choose money managers, for greater safety and higher returns.
From 1988 to 2005, he
worked primarily to search out, evaluate and recommend money managers with strong track records.
He is the President and owner of Sperry Fund Management LLC (SFM), a
limited liability company, whose business was originally established as Mr. Makepeace's
sole proprietorship in 1988.
Also, Mr. Makepeace's
original goal was to produce 15% to 20% in net returns, so that money would be attracted by performance alone.
funds of funds out-performed their competitors generally over the years, but fell short of 15%.
decided that this goal will not be achievable in the future.
Thus, all four funds of funds ceased operations during 2006.
In 1991, Mr. Makepeace found a money manager with an outstanding record, but with no offshore fund.
Mr. Makepeace organized a Bahamian fund, and brought the manager to other funds of funds and professional investors.
has continued to introduce outstanding managers to select investors.
These managers have rewarded these investors with net gains well over $200 million.
Global macro investing
Mr. Makepeace has also managed a global macro fund since 1991, but never as a full-time effort.