Is This The Next Warren Buffett? 39% CAGR Returns For 5.5 Years

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Is This The Next Warren Buffett? 39% CAGR Returns For 5.5 Years

H/T Value Investing World

Via Forbes – Is This The Next Warren Buffett?

A short while ago I was at a wedding in San Francisco when someone came up to me, clasped my hand in both of his, and began thanking me effusively.

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He then introduced me to his wife, who also began thanking me.

The reason? Just over two years ago this couple had read an article I had written for Smart Money magazine about a young, unknown college dropout in Salt Lake City called Allan Mecham (The text of that article can be read here).  Mecham ran a tiny investment fund, I reported – and was shooting the lights out. After reading the article, the couple had investigated Mecham further, and had then invested a good chunk of their savings with him.

The result? They’ve doubled their money, or better. In two years. Last year alone Mecham was up 52%. After fees.

No wonder they were so happy.

(These numbers are all pretax, of course).

For the past thirty years everyone on Wall Street has been looking for the Holy Grail of money managers, the “next Warren Buffett.” It’s always dangerous to make these kinds of predictions, but if Allan Mecham – currently just in his mid-30s – isn’t the genuine article, he’s doing a remarkably good impression of it