Dan Roller's Maran Capital Management returned 5.4% net of all fees and expenses during the first quarter of 2023, compared to a return of 2.6% for its benchmark, the Russell 2000 index.
The value-orientated equity hedge fund has an impressive track record of outperforming by selecting undervalued small and mid-cap stocks. It has returned 12% per annum net since its inception five years ago.
The failure of Silicon Valley Bank, economic uncertainty, and higher interest rates dominated the first quarter of 2023. However, despite the macroeconomic backdrop, Roller writes in his update that he cannot afford to become distracted in his hunt for "the next Monster Beverage, the next LVMH."
Regardless of the macro backdrop, the fund manager says his job is always...
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