What Can A Micro-Cap Manager Learn From Alibaba? by The Royce Funds
I admit that I was intrigued by the inspiring story of Jack Ma, the executive chairman of Alibaba. Raised in a family of modest means in mainland China, by age 50 he had managed to start a company that has grown to the size of Walmart on a gross revenue basis in only 15 years.
I thought that an opportunity to hear him speak and experience the investor response was easily worth a lunch. So I attended an afternoon event on June 9 hosted by the Economic Club of New York, a fortunate opportunity offered by a broker that services Royce.
While I look at many initial public offerings, I skipped Alibaba’s, which, at a $20 billion IPO raise, fell just a little outside of the micro-cap range. (As many know, Alibaba is a Chinese Internet company that operates a significant e-commerce platform and also offers cloud computing and other services.)
Bonhoeffer Fund's performance update for the month ended July 31, 2022. Q2 2022 hedge fund letters, conferences and more The Bonhoeffer Fund returned 3.5% net of fees in July, for a year-to-date return of -15.8%. Bonho