16 SOURCES4 INDEXED REFERENCES1997–2026
A 16-vintage letter archive (DocSend-hosted, free) plus the memoir and the Bloomberg op-ed “The Golden Age of Value Investing Is Over” (Sep 18, 2025)
THE RECORD
A 16-vintage letter archive (DocSend-hosted, free) plus the memoir and the Bloomberg op-ed “The Golden Age of Value Investing Is Over” (Sep 18, 2025). The $650,100 Buffett lunch (2008, with Pabrai) is the arc’s anchor. TEDx credit narrowed; ILTB and Masters-in-Business credits verified-negative — do not import.
SELECTED PUBLIC REFERENCES
2026 · Documented public record
Final 2025 letter + Opalesque
Decision — Announced wind-down of Aquamarine after 28 years; family-office conversion. Context: Trigger: cancer diagnosis (grade 4 glioblastoma); “one of the bravest investor letters” (Rubinstein). Outcome (known): 2025 return 11.3%; final letter posted Feb 2026.
2025 · Documented public record
Bloomberg Opinion op-ed
Decision — Publicly declared “the golden age of value investing is over”. Context: Bloomberg Opinion op-ed: LLMs have obliterated the research edge he had. Outcome (known): Rare practitioner mea culpa; pairs with the wind-down.
2008 · Documented public record
“Lunch with Warren Buffett” (guyspier.com)
Decision — $650,100 Buffett charity lunch (with Mohnish Pabrai). Context: Auction won June 2007; Spier credits it with redirecting his life. Outcome (known): Documented in his own essay, TIME, and CNBC.
1997 · Documented public record
The Education of a Value Investor
Decision — Founded Aquamarine Fund in Zurich, modeled on the Buffett partnerships. Context: “Leave Wall Street norms behind” arc detailed in the memoir. Outcome (known): Fund ran 28 years; cumulative ~1,185.6%.
CONNECTED INVESTORS
Guy shares documented ground with the investors below — themes both return to, companies both discuss. The strength comes from the indexed passages themselves.
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TOP COMPANIES
Companies appear once the collection lands.