David D. Alger (December 15, 1943 – September 11, 2001)[1] was an American mutual funds manager. He was the CEO of Fred Alger Management.
Alger was one of the most vocal opponents of the value investing prominently advocated for by Warren Buffett, rejecting Buffett's "emphasis on underlying corporate values, relying instead on such factors as his own intricate analyses of future earnings potential."[2] He was a regular fixture on Wall Street television coverage, where he promoted his views on mutual fund management.[2]
Alger was known for his "aggressive" and "volatile" Spectra portfolio, which reflected his strong advocacy for technology stocks.[3] In a 1998 interview, he described America Online Inc., Home Depot, and Microsoft as among his company's top holdings. He felt a Republican-led Department of Justice would be more lenient on Microsoft, and accurately predicted the Republicans would win the 2000 United States Presidential election.[4]
He was killed, along with 34 of his employees, when his office on the 93rd floor of 1 World Trade Center was destroyed in the September 11 attacks.[2] At the National September 11 Memorial and Museum, he is memorialized on Panel N-59 of the North Pool, along with his employees.[1]
References
edit- ^ a b "Memorial Guide | National September 11th Memorial & Museum". names.911memorial.org. Retrieved 2024-08-27.
- ^ a b c "David Alger Is Dead at 57; Manager of Mutual Funds - The New York Times". The New York Times. 2022-10-01. Archived from the original on 2022-10-01. Retrieved 2024-08-27.
- ^ "Fund manager David Alger missing - Sep. 12, 2001". money.cnn.com. Retrieved 2024-08-27.
- ^ "David Alger: End of this Year we are Going to See a Turn in the Small Cap Area". www.investmentnews.com.