Charles Corm II
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Charles Corm II | |
|---|---|
| Born | Charles David Corm |
| Education | Lycée Saint-Louis-de-Gonzague, Paris Dauphine University (MSG), Columbia Business School (MBA) |
| Occupations |
|
| Known for | Founding CORMCO |
| Title | Founder and Managing Partner of CORMCO |
| Spouse | Lynn Dagher |
| Children | Carma, David |
| Parent(s) | David Corm, Maya Shahid |
| Relatives | Charles Corm (grandfather), Munib Shahid (grandfather), Serene Husseini Shahid (grandmother), Daoud Corm (great-grandfather), Jamal Husseini (great-grandfather), Georges Corm (cousin), Walid Juffali (cousin), Khaled Juffali (cousin), Jamil Baroody (great-uncle) |
Charles Corm II is a Lebanese entrepreneur and investor who serves as Managing Partner of CORMCO, a private investment company he founded in 1998 and focused on public and private companies in the global tech, biotech, and real estate industries.[1][page needed][2][failed verification] Through CORMCO, Charles invested in a string of high-profile IPOs, such as Broadcom in 1998, Nvidia in 1999, and Emaar Properties in 2000, as well as notable investments in Qualcomm in 2003 and Biogen in 2005. From 1998 to 2024, CORMCO’s investments generated a 21% annualized return, significantly outperforming the S&P 500 and Nasdaq Composite indexes' annualized returns over the same time period (respectively 10% and 14%).[2][better source needed][3][failed verification][non-tertiary source needed] In addition to his role at CORMCO, Charles is an advisor to private equity and venture capital firms, family offices, and UHNWIs.[2][failed verification]
Early life
[edit]Charles was born in Beirut, Lebanon, into the prominent, wealthy, and influential Corm family. His mother, Maya Shahid, is a Lebanese painter and the daughter of Munib Shahid and Serene Husseini Shahid. His father, David, is a Lebanese architect and businessman who played a significant role in Saudi Arabia's economic boom in the 1960s, before the kingdom became the world's largest oil producer in 1976.[4][page needed] Charles is the grandson of Lebanese writer and industrialist Charles Corm. His great-grandfather is Lebanese painter Daoud Corm.[4][page needed] Other relatives include Jamal Husseini (great-grandfather), Georges Corm (cousin), Walid Juffali (cousin), Khaled Juffali (cousin), and Jamil Baroody (great-uncle).
In 1975, when the Lebanese Civil War erupted, his parents sought refuge in Paris, where Charles grew up and attended school at Lycée Saint-Louis-de-Gonzague, a highly selective Jesuit school. He later attended Paris Dauphine University, from which he graduated in 1996 with an MSG in economics, management, and finance. During university, Charles briefly worked as a barman and fashion model.[4][page needed][failed verification] Charles then earned, in 2003, an MBA from Columbia Business School in New York City.
Career
[edit]Charles started his career in 1997 as a hedge fund analyst, covering US tech and biotech stocks on Wall Street. In 1998, he quit his job to found CORMCO.[5][failed verification][page needed]
Through CORMCO, Charles invested in a string of high-profile IPOs, such as Broadcom in 1998 and Nvidia in 1999, these two companies now being, more than 25 years later, among the 10 most valuable companies in the world and two of the leaders of what has been called the AI revolution.[6][page needed] Other notable investments include Emaar Properties in 2000, Qualcomm in 2003, and Biogen in 2005.[2] CORMCO was a strong proponent of patient capital, whereas an investor is willing to forgo an immediate return in anticipation of more substantial returns down the road. This strategy helped CORMCO achieve superior investment returns from its inception in 1998 throughout 2024. CORMCO’s focus on tech and biotech as well as its high top 10 positions concentration also contributed to this outperformance.[2][3][failed verification][non-tertiary source needed]
References
[edit]- ^ Ginsberg, Ari. Investing in New Information Technology: The Role of Competitive Posture and Issue Diagnosis (Classic Reprint). FB&C Limited. ISBN 978-0-243-07486-0.
- ^ a b c d e Bushnell, Mitch. "CORMCO – About". New York City: CORMCO.
- ^ a b "S&P 500 Average Return and Historical Performance". Investopedia.
- ^ a b c Salameh, Franck (2015). Charles Corm: An Intellectual Biography of a Twentieth-Century Lebanese "Young Phoenician". The Levant and Near East: A Multidisciplinary Book Series. Lexington Books. ISBN 978-0-7391-8401-1. Retrieved November 18, 2024.
- ^ Kwatinetz, Mike; Wood, Danielle Kwatinetz (March 15, 2004). The Big Tech Score: A Top Wall Street Analyst Reveals Ten Secrets to Investing Success. John Wiley & Sons. ISBN 978-0-471-43665-2.
- ^ Huisman, Kuno J. M. (November 30, 2001). Technology Investment. Boston, Mass.: Springer Science & Business Media. ISBN 978-0-7923-7487-9.