In 2002, San Diego-based fund manager Brandes Investment Partners made headlines in Canada by terminating a contract with AGF in favour of launching its own product north of the border. Before that, Charles Brandes had run AGF's popular International Value Fund, which had assets of $7.4-billion.
After Mr. Brandes left, a lot of people pulled their money out of the AGF fund. The move didn't work out so well for his own funds either, because they haven't picked up much steam in Canada.
Eight years later, Mr. Brandes is back in the headlines, but this time for a personal matter. He is in the midst of a money battle from his last divorce, and a San Diego paper got its hands on the court documents. The divorce itself is a sad story, as most are, but the juicy tidbit stems from his lavish lifestyle, considering he is a value investor. Contrast his fleet of 10 Ferraris worth $4.5-million (U.S.) with Warren Buffet's simplicity.
The full story in the San Diego Union-Tribune can be found here.