Capital Ideas Podcast Adventures in small-cap investing
Jun 5, 2025
Greg Wendt, a seasoned equity portfolio manager with 37 years at Capital Group, shares invaluable insights into small-cap investing. He reflects on his unique journey from retail to finance, including transformative experiences with Sam Walton. Wendt emphasizes the significance of on-the-ground research, personal connections, and resilience through market downturns. He also highlights promising companies like Texas Roadhouse, revealing how passion and commitment can drive success in investments. This conversation serves as a reminder that investing can be as engaging as it is rewarding.
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Meeting Sam Walton Early
- Greg Wendt started his career as a department manager at a department store before becoming an analyst.
- He met Sam Walton at 24 and learned firsthand about retail leadership and culture.
Calm in Market Crisis
- Observing calm professionalism amid the 1987 stock market crash was formative for Greg.
- Leadership reassurance helped maintain confidence and perspective during the crisis.
Choosing Small Cap Stocks
- Greg chose to focus on small-cap stocks because they were more fun and offered more management access.
- He helped launch Capital Group's small-cap fund in 1990 after lobbying with a colleague.
