Voce Capital Management Investment Adviser


Voce Capital Management LLC (“Voce”) is a value-oriented investment adviser. Founded in 2011 by J. Daniel Plants, Voce bases its investment decisions upon extensive fundamental research, manages a concentrated portfolio and invests with a multi-year time horizon.  Voce is based in San Francisco and is 100% employee-owned.

“Everybody deserves a fresh start every once in a while.”

–  Bugsy Siegel

“Each one of these places exists because of the things we learnt before.”

– Steve Wynn


“I don’t try to get all the meat off the bone.  When I get a good figure, I just move something.  Too many people try to hit the peak price, and they hold on until it is too late.”

Kirk Kerkorian

“The key factor in my strategy is longevity.”

Sheldon Adelson

“Once you consent to some concession, you can never cancel it and put things back the way they are.”

Howard Hughes

          “Control what you can control.”

Andre Agassi

“No sympathy for the devil; keep that in mind.  Buy the ticket, take the ride . . . .”

Hunter S. Thompson

About Voce's Quotes

Each quarter, for inspiration we turn to our favorite writers and warriors; scientists and statesmen; musicians, magicians and politicians; investors and business leaders; thinkers and tinkerers; artistes, aesthetes and auteurs.  The current curation of quotes (from our 2017 Annual Letter) is a tribute to that quintessential capital of chance: Las Vegas.  This letter’s quotes are drawn from some of Sin City’s leaders and low-lives, denizens and doyennes.  It’s hard not to marvel at Vegas’ sybaritic offerings and temples of capitalism, even from the perspective of one who is genetically incapable of engaging in games of chance.


J. Daniel Plants

Founder & Chief Investment Officer

Mark Shamia

Chief Operating Officer

“The greatest danger to liberty today comes from the men who are most needed and most powerful in modern government, namely, the efficient expert administrators exclusively concerned with what they regard as the public good.”

F. A. Hayek

“Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the state.”

Carl Menger

“History does not provide any example of capital accumulation brought about by a government. As far as governments invested in the construction of roads, railroads, and other useful public works, the capital needed was provided by the savings of individual citizens and borrowed by the government.”

Ludwig von Mises

“When goods do not cross borders, soldiers will.”

Frédéric Bastiat

“The directors of such companies, however, being the managers rather of other people’s money than of their own, it cannot well be expected that they should watch over it with the same anxious vigilance with which the partners in a private copartnery frequently watch over their own. Like the stewards of a rich man, they are apt to consider attention to small matters as not for their master’s honour, and very easily give themselves a dispensation from having it. Negligence and profusion, therefore, must always prevail, more or less, in the management of the affairs of such a company.”

– Adam Smith

About Voce's Quotes

In recognition of the momentous political events of late, this quarter’s quotations are drawn from some of the classical liberal economists who have helped us better understand the role free markets play in prosperity as well as their impact on behavior and individual liberty.  We commend these great teachers to the incoming President for inspiration as he formulates his economic policies, and we hope their tomes line his bookshelves.


In The News

At The Podium

Being Vocal


Voce Capital Management LLC

The Pyramid | 600 Montgomery Street
San Francisco, CA 94111

T: (415) 489-2602
F: (415) 489-2610