Institutional Small/Micro-Cap Value Strategy
"The firms we buy have 'fortress balance sheets', are simple to understand and are run by people with a vested interest in the firm's success. We have strict criteria in these regards that are non-negotiable when it comes to being included in our portfolio" - Brian Rafn
Team
Lead Portfolio Manager - Brian G. Rafn
Portfolio Manager/Senior Research Analyst - Terence V. Pavlic, CFA
Recent News
LIPPER TOP 20 Money Managers – 5 Year Returns: Lipper ranks Morgan Dempsey Small/Micro Cap Value #2 in the 5 year time period (11/17/11)
Why Founder/Owner/Operator (10/21/11)
Why Now for Small/Micro-Cap (10/21/11)
Small Milwaukee Money Firm Aims to Deliver Stable Returns (Milwaukee Journal Star 2/7/11)
Morgan Dempsey Wins $50M MERS Mandate. (2/1/2011)
Morgan Dempsey Hired by Callan Associates. (8/20/2010)
Accolades
- 3-year and 5-year performance rank in the top 1% of the 200+ Small-Cap Value Managers tracked by Evestment Alliance (12/31/09).
- Earned title of Small-Cap "Investment Manager Top Gun" and "Bull & Bear Master" from Informa Investment Solutions (12/31/09).
- Pensions & Investments ranks the Morgan Dempsey Small/Micro-Cap Strategy as the top performing small-cap blend separate account manager over the previous 5-years (12/31/09).
Philosophy
- We believe that disciplined, fundamental, bottom-up research is the key to gaining an information advantage. We examine a full company history and apply rigorous forensic accounting in an attempt to understand our companies better.
- We focus on the area of the market where we can gain a significant edge through fundamental research. Our ability to pursue micro-cap companies in addition to small-caps provides us with opportunities that are off limits to larger institutional strategies.
- We pursue companies with strong competitive characteristics and equally strong balance sheets that are selling at a discount to our conservative intrinsic value estimates. A fortress balance sheet is at the cornerstone of all our investment decisions.
- We believe in having conviction in our analysis and patience in our convictions. We want to be long-term partners with the great companies and exceptional management teams we have assembled in our portfolio.
Download Additional Information
Please click on any of the links to download detailed information about the Morgan Dempsey Small/Micro-Cap Value Strategy. By downloading these files you agree to have read and understood the disclosures provided here.
- Small/Micro-Cap Presentation (18 page .pdf)
- Performance History (2 page .pdf)
- Executive Summary (2 page .pdf)
- Strategy Information (13 page .pdf)
- Firm Information (4 page .pdf)
Press & Third Party Analysis
Small/Micro Cap Value Quarterly Commentary and Reports
- Q411 Commentary Peace or Liberty Dividend?
- Q311 Commentary Requiem for Jobs
- Q211 Commentary Quarterly Commentary
- Q111 Commentary On Wisconsin
- Q410 Commentary Season 4 Treason
- Q310 Commentary Crimson Tide
- Q210 Commentary Jack-in-the-Box
- Q110 Commentary The Big Bounce
- Q409 Commentary King Dollar $$$$$
- Q309 Commentary Dollars & Sense
- Q209 Commentary Sea of Tranquility
- Q109 Commentary Dollar Tsunami
- Q408 Commentary Day(s) the Credit Market Stood Still
- Q308 Commentary Panic & Falling Knives
- Quality as a Tail Risk Hedge (2010 Special Report)
- Why Now for Small/Micro-Cap?
- End of an Era (2008 Special Report)
