On the lookout for the next Anthony Bolton I've recently been following the progress of the top performing Marlborough Special Situations Fund run by Giles Hargreave. In this interview he sets out the investment process followed by the fund.
http://www.marlboroughfunds.com/priv/MarlboroughTV_SpecialSits.htm
Key points I took away were:
Average up and not down (i.e. build on good performance)
With small companies "things can happen" hence the need for a diverse portfolio (this is a small cap fund with about 50% AIM)
Philosophy of the Day
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