Old Kings Capital: Betting On Trump Reforms

In the world of small value funds, Old Kings Capital stands out for its steady returns and lack of volatility. Managed by two Colombia Business School alumni Randall Heck & Brad Purcell, the hedge fund employs a long-short strategy with net market exposure generally between 30% and 70%. The managers attempt to achieve their investment objectives by emphasizing: 1) independent research, 2) fundamental due diligence focused on cash flow performance, and 3) valuation discipline.

Over the years, Old Kings returns have not been market-beating, but the fund has achieved near market returns after fees with less volatility. Since inception (July 1, 2002) old Kings has produced an annualized return of 7.4% after fees with a standard deviation of 10.3% compared to...