I recently came across a great article that shared about this amazing Microcap Superinvestor. He was one of the best microcap investors.
How good is he? Well, he was so good that he made double-digit and triple-digit percentage returns for his clients.
Who is he? His name is Fred Astman.
Fred is the founder of First Wilshire Securities. But before he started this company, he was actually serving the US Air Force during World War 2, when he returned from service, he got himself a business administration degree from the University of Connecticut.
After that, he was recalled to serve his country during the Korean War.
And later on, he came back to become a stockbroker in Los Angeles and that's where he found his passion and niche, by investing in small company stocks.
That was how everything started for him. He went from being a stockbroker to becoming a manager of a very small mutual fund and then getting early success as an investment manager investing in microcap stocks.
At one point, he managed to grow the net asset value of his fund by more than 300%. That was when he decided to start his company.
Unfortunately, on the 2nd of April 2013, at the age of 90, Fred passed away. He had no children of his own, but his legacy still carried on through the charitable foundations that he and his wife built, and also his investment family from First Wilshire Securities.
For those who never had the chance to meet him, at least we still have the opportunity to learn from his success.
And that is why, in this episode, we will be talking about the top 8 lessons from this amazing Superinvestor, Fred Astman.
