The JRo Show
Interview with Steve Scruggs, Portfolio Manager of the FPA Queens Road Small Cap Value Fund
Jun 19, 2024
Guest Steve Scruggs, Portfolio Manager of FPA Queens Road Small Cap Value Fund, discusses investment criteria, portfolio management philosophy, Four-Pillar investing framework, Mittelstand concept, small-cap valuations. Also covers insights into lead portfolio manager responsibilities, monitoring portfolio process, Midelstand companies, small team dynamics, valuation methods, MSC Industrial Direct investment thesis, and the art of reading and learning in investing.
01:16:24
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Quick takeaways
- Steve consistently outperforms benchmark with less risk by focusing on quality and strong balance sheets.
- Steve's bottom-up approach prioritizes consistent profitability and high returns on invested capital for sustainable performance.
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