Note: We incorrectly stated return as -36.7% and have updated it to the correct number.
Like most equity hedge funds, Mitchell Scott's Choice Equities struggled in 2022.
Even though it reported a positive end of the year, generating gains of 6.5% on a net basis in the fourth quarter, the fund lost -31.6% overall for the year, compared to -20.5% for the Russell 2000 and -18.1% for the S&P 500.
However, the firm's longer-term performance is far more impressive. Since its inception in 2017, it has generated annualized returns of 15.2%, compared to 5.8% and 11.4% for the Russell 2000 and S&P 500, respectively.
Small-cap Value Stocks Look Cheap
As Scott notes in his fourth quarter and year-end update, a copy of which ValueWalk has...
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