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The Small-Cap Advantage: How Top Endowments and Foundations Turn Small Stocks into Big Returns (Wiley Finance Book 663) by [Brian Bares]

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The Small-Cap Advantage: How Top Endowments and Foundations Turn Small Stocks into Big Returns (Wiley Finance Book 663) Kindle Edition

4.3 out of 5 stars 11 ratings

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Length: 212 pages Word Wise: Enabled Enhanced Typesetting: Enabled
Page Flip: Enabled Language: English

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Product description

From the Inside Flap

The historical returns of small-cap stocks have exceeded those of mid-cap and large-cap stocks over long time periods. The additional return experienced by small-cap investors has occurred despite inherent disadvantages in the asset class.

The excess return available from small-cap stocks can help large foundations, endowments, and other similar institutional investors overcome the drag of inflation and the drain of annual spending. These institutional investors are in a unique position to fund new and often untested managers who are in the best position to benefit from the return premium of small-cap stocks and from the relative lack of professional participation in the space.

The Small-Cap Advantage: How Top Endowments and Foundations Turn Small Stocks into Big Returns is a must-have book for aspiring and existing small-cap managers and the institutions that would hire them. It is an insider's account of institutional small-cap investing. The book details the investment, fundraising, and operational challenges encountered by small-cap managers. It also:

  • Describes the evaluation issues encountered by institutions in their small-cap manager due diligence
  • Reveals why small-cap stocks are a fertile hunting ground for investors seeking high returns over long time periods
  • Details how top foundations, endowments, and other institutional investors can procure exposure to small-cap stocks through allocations to specialist managers
  • Explores the reasons for small company outperformance and reveals how returns can be further enhanced through the careful avoidance of problem companies
  • Explains why the small-cap space is ideal for active management and why passive indexing may not be an optimal strategy for this asset class

The Small-Cap Advantage helps aspiring small-cap managers understand the state of the institutional investment management industry. It debunks the notion that small-cap managers who lack long track records or high levels of assets under management are undeserving of institutional funding. It explains the fundraising process for aspiring small-cap managers and how they can handle many of the challenges that come with successfully increasing strategy assets.

The Small-Cap Advantage provides endowment-model institutions with a deeper understanding of the unique issues faced by specialist boutique managers who focus on the small-cap space. It will also assist institutional due diligence teams in their evaluation of small-cap managers. --This text refers to the hardcover edition.

About the Author

BRIAN T. BARES, CFA, is a research analyst with Bares Capital Management, Inc. He founded the firm in 2000 with the belief that concentrated portfolios of inefficiently priced small companies could lead to high relative compounding. His firm manages the institutional portfolios of small-cap and micro-cap common stocks in long-only, replicated separate accounts. Mr. Bares began his career by working his way up from the bottom. From compliance and operations, to trading and portfolio management, he garnered experience in nearly all aspects of running a boutique small-cap management company before starting his own company. He graduated from the University of Nebraska with a degree in mathematics. His investment philosophy and strategy have been profiled in Value Investor Insight and the Manual of Ideas: Portfolio Manager's Review. Mr. Bares holds the Chartered Financial Analyst designation and is a member of the CFA Society of Austin. He resides in Austin, Texas, with his wife and two sons. --This text refers to the hardcover edition.

Product details

  • File Size : 1227 KB
  • Word Wise : Enabled
  • Print Length : 212 pages
  • Publisher : Wiley (19 January 2011)
  • Enhanced Typesetting : Enabled
  • Screen Reader : Supported
  • ASIN : B004KKY1EW
  • X-Ray : Not Enabled
  • Text-to-Speech : Enabled
  • Language: : English
  • Customer Reviews:
    4.3 out of 5 stars 11 ratings
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3.0 out of 5 stars Not at all for small investors. But the book contains one key message in it.
Reviewed in India on 20 May 2015
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2 people found this helpful
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Amazon Customer
3.0 out of 5 stars Not a guide in finding good small cap stock
Reviewed in Germany on 7 October 2020
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5.0 out of 5 stars Empfehlenswert
Reviewed in Germany on 13 May 2016
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M. Nowacki
5.0 out of 5 stars Great book on how to start and grow an investment management firm
Reviewed in the United States on 19 March 2017
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One person found this helpful
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P. Kim
3.0 out of 5 stars Not so informative....
Reviewed in the United States on 7 June 2017
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