Ralph Wanger's Survival Guide to Investing in Small-Cap Stocks
by Wayne A. Thorp
His investing style of holding small companies with financial strength, entrepreneurial managers, and understandable businesses allowed him to generate annualized returns of 16.3% with the Acorn Fund between 1970 and 2003, while the S&P 500 index gained 12.1% a year over that period.
Wanger outlined his approach in his 1997 book A Zebra in Lion Country: Ralph Wangers Investment Survival Guide. This article focuses on AAIIs revised Wanger stock screen, which is an adaptation of the principles outlined in Wangers book.
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