Our proprietary Absolute Value® approach is the foundation for each one of our investment strategies
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Small Cap Value

Value oriented portfolio of small cap equity holdings

Small-Mid Cap Value

Value oriented portfolio of small-mid cap equity holdings

Mid Cap Value

Value oriented portfolio of mid cap equity holdings

Large Cap Value Select

Value oriented portfolio of large cap equity holdings

Dividend All-Cap Value

Value oriented portfolio of all cap equity holdings paying high and growing dividend yields

Focused Absolute Value®

Value oriented portfolio of all cap equity holdings

August 1, 2024

100 Baggers: Stocks That Return 100-to-1 and How To Find Them

Christopher W. Mayer

One of our favorite investors, Chuck Akre, has recommended the book 100 to 1 in the Stock Market by Thomas Phelps, which we read and enjoyed. Christopher Mayer, the author, has dedicated this book to Phelps and he has done a nice job. As committed value investors, this book may seem a bit far removed from our philosophy. However, we appreciate that there are many “ways to win” in the market and a relatively small number of big winners have driven our results over time as well. Mayer spent upwards of $50,000 in compiling a database of every 100-bagger between 1962 and 2014 and then spent a chapter on each of the key drivers. And they are what you’d expect: smaller companies, great businesses, reasonable starting valuations, led by wonderful operators, plenty of reinvestment opportunities, etc. A great book and the cornerstone of the approach can be summed up with a quote from Charlie Munger, “If a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you’ll end up with a fine result.”

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