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David Goel

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David E. Goel
Born1970 (age 53–54)
Toronto, Ontario, Canada
CitizenshipUnited States
EducationHarvard University (AB)
OccupationInvestor
Known forFounder of Matrix Capital Management LLC hedge fund
Board member ofPhillips Exeter Academy
Popular, Inc.
Adaptive Biotechnologies
Univision Communications

David E. Goel (born 1970) is an American hedge fund manager.[1] Goel is the managing general partner of Matrix Capital Management, which he co-founded with pioneering investor Paul Ferri in 1999.[2] Goel is also a protégé of hedge fund manager Julian Robertson.[3]

Biography

Goel was born in Toronto, Ontario, though he is known primarily as a U.S. equity securities investor.[4] He became a naturalized U.S. citizen in 2013.[5]

A 1989 graduate of Phillips Exeter Academy and a 1993 graduate of Harvard University, Goel studied international relations and majored in government.[6][7] After graduating university, he went to work as a financial analyst at Morgan Stanley & Co. in its High Technology Investment Banking division.[8] From 1995 to 1996, he worked as a financial analyst at the multibillion-dollar private equity fund General Atlantic Partners.[9] In 1996, he left General Atlantic to become an analyst and later partner at Tiger Management, where he was mentored by Julian Robertson. Goel then began his own fund, Matrix Capital Management, in 1999. Tiger Management closed down and returned all monies to investors in 2000. Thus, Goel is counted among the “Tiger Cubs,” a designation for former Tiger Management employees who started successful hedge funds.

Investment strategy

Like other Tiger alumni, Goel is known for fundamentals-focused growth investing.[10] The time horizons of Goel's investments are typically long-term, and he has been quoted as saying that, when evaluating a stock portfolio's performance, “I think in 10-year terms.”[11] Goel's investment strategy has been cited as an exemplar both of company-specific microeconomic research and for its use of market analysis, including DeMark Indicators.[12]

Goel's hedge fund, Matrix Capital Management, is registered with the U.S. Securities and Exchange Commission and as a result, its investment strategies are a matter of public record.[13] For the past 14 years, Goel's fund has invested in public companies predominantly within the technology, media, telecommunications, and consumer staples sectors. Matrix Capital has even been the subject of a prominent case study at the Harvard Business School.[14] When Goel and Ferri co-founded the fund in 1999, it was arranged that Goel would manage its day-to-day functions.[15] Thus, Matrix Capital is not to be confused with Ferri's separate venture capital firm Matrix Partners, which has made early stage investments in young, private companies over the past 36 years that include Apple, SanDisk, Gilt Groupe, and others.[16]

Through Matrix Capital Management's investments, Goel received attention in 2012 for his early support of cloud computing ventures.[17] Goel was quoted as saying these investments were predicated on “the disruptive power of cloud computing across the technology universe” and that each would be “a harbinger for where all software companies will have to go if they want to remain relevant.” [18] In the case of Rod Drury’s accounting software company Xero, for instance, Matrix Capital Management purchased approximately 10% of the company.[19]

Philanthropy and other affiliations

Goel is an active philanthropist and serves on a number of boards at educational institutions and foundations for the arts. A lifelong beneficiary of scholarships and financial aid, he became an advisor for Harvard University's Weatherhead Center for International Affairs (where he studied as an undergraduate) from 2006 to 2008,[20] has been a Trustee of the Meadowbrook School since 2009,[21] and was elected as a Trustee of Phillips Exeter Academy in May 2013.[22] He has served as a Trustee of the Museum of Fine Arts, Boston since 2010,[23] where he and his wife, Stacey, donated a gallery in the museum's New American Wing.[24] He is also on the board of trustees for American Repertory Theater.

Goel currently serves on the board of Directors of Popular, Inc., a publicly traded financial holding company with more than $45 billion in consolidated assets.[25][26][27] In 2013, Popular shareholders reelected him by a majority of 98%.[28]

Goel and his wife made a $100 million gift to Harvard University in 2019 to fund its arts campus in Allston.[29]

Notes

  1. ^ "Reuters Finance Biography of David Goel". Reuters. Retrieved 1 May 2013.
  2. ^ "Reuters Finance Biography of Paul J. Ferri". Reuters. Archived from the original on 30 June 2013. Retrieved 1 May 2013.
  3. ^ Taub, Stephen (1 November 2010). "Are the Tigers losing their stripes?". Institutional Investor Magazine. Retrieved 1 May 2013.
  4. ^ "SEC Schedule 13G". U.S. Securities and Exchange Commission. 19 April 2012. Retrieved 2 May 2013.
  5. ^ "Amendment to SEC Schedule 13G". U.S. Securities and Exchange Commission. 16 April 2013. Retrieved 2 May 2013.
  6. ^ "The Exeter Bulletin Special Edition" (PDF). Phillips Exeter Academy. Archived from the original (PDF) on 4 March 2016. Retrieved 2 May 2013.
  7. ^ "The Harvard Alumni Association Directory". Harvard Alumni Association. Archived from the original on 26 June 2013. Retrieved 7 May 2013.
  8. ^ "Market Visual Report". Retrieved 30 April 2013.
  9. ^ "SEC Schedule 14A Definitive Proxy Statement". U.S. Securities and Exchange Commission. Retrieved 6 May 2013.
  10. ^ "Executive Profile". Bloomberg Businessweek. Retrieved 2 May 2013.[dead link]
  11. ^ "The Tiger Legacy". Absolute Return. November 2010. Retrieved 1 May 2013.
  12. ^ Effinger, Anthony; Burton, Katherine (12 November 2012). "DeMark Fibonacci Charts Embraced by Cohen Lure Investors". Bloomberg News.
  13. ^ "Investment Advisor Public Disclosure". U.S. Securities and Exchange Commission. Archived from the original on 26 October 2013. Retrieved 8 May 2013.
  14. ^ Prof. Malcolm P. Baker. "List of Cases and Teaching Materials". Harvard Business School. Retrieved 6 May 2013.
  15. ^ "SEC Form ADV Part2A". U.S. Securities and Exchange Commission. Retrieved 30 March 2013.
  16. ^ "List of Companies Seeded by Matrix Partners". Matrix Partners. Retrieved 8 May 2013.
  17. ^ "Xero Raises $49 Million From U.S. Investors". MarketWire. 29 November 2012. Retrieved 2 February 2013.
  18. ^ "Xero raises NZ$60m from US investors". New Zealand Stock Exchange. 30 November 2012. Retrieved 8 May 2013.
  19. ^ "American companies put $82 million into Xero's cloud". The New Zealand Herald. 1 December 2012. Retrieved 4 May 2013.
  20. ^ "Weatherhead Center Annual Reports" (PDF). Harvard University. Retrieved 27 April 2013.
  21. ^ "Board of Trustees". The Meadowbrook School of Weston. Archived from the original on 15 July 2013. Retrieved 1 May 2013.
  22. ^ "Meet the Trustees". Phillips Exeter Academy. Archived from the original on 5 May 2013. Retrieved 6 May 2013.
  23. ^ "Annual Report 2011". Museum of Fine Arts, Boston. Retrieved 2 May 2013.
  24. ^ "Art of the Americas Wing Level 2 Gallery Descriptions" (PDF). Museum of Fine Arts, Boston. Retrieved 2 May 2013.[permanent dead link]
  25. ^ "Popular, Inc. Key Executives". The Motley Fool. Retrieved 5 May 2013.
  26. ^ "Company Overview". The Wall Street Journal. Retrieved 8 May 2013.
  27. ^ "David E. Goel Biography". MarketWatch. Retrieved 1 May 2013.
  28. ^ "Popular, Inc. Reelects Director and Elects New Director". Business Wire. 2 May 2013. Retrieved 6 May 2013.
  29. ^ "Announcement". A.R.T. Retrieved 2019-02-28.

Further reading

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