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By Benedicte Gravrand: In the same spirit of the Oracle of Omaha, a small firm has been quietly busy generating impressive profits through fundamental analysis for the last 30 years.
Let me introduce you to Lamoreaux Capital Management, a U.S.-based hedge fund (Sausalito, CA), which General Partner Mr. Phillip Lamoreaux has been running throughout his long and accomplished career. His main fund, the Lamoreaux Partners Fund (which was converted from long-only to hedge in 1984) has compounded at 17% net of fees since its launch in 1976. His new fund, theLamoreaux Premiere Growth Fund, which was launched on 3rd January 07, has so far returned 6.84% YTD.
Mr. Tom Wyman talked to Opalesque about Lamoreaux’s investment basics. As Lamoreaux’s Portfolio Manager, he designed proprietary screening systems to enable the finding of what he calls ‘defining new industries’. The selected defining new industries are mainly U.S.-based, although some are offshore (those usually trade on U.S. exchanges). They all have a product or a service that is very new for their industry. An example is a China-based company which provides private education, responding to Chinese one-child families’ growing demand for the best possible education.
The portfolio avoids sector-concentration to reduce risks and includes around 30 to 35 small-cap companies, all different industries going from solar energy or education to cable companies’ technology… What these companies ha...................... To view our full article Click here
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