Scott Woods

Visiting companies is key to small cap investing in particular. Scott Woods looks at how the pandemic has changed this.

It’s a cliché that human beings quickly adapt to new circumstances, but that has certainly been the case for us as fund managers as we have adapted to this new world.

The drives between company visits are fun. I listen to local radio, stop at local stores, and can learn a lot about US consumers and how they behave.

Pest control is a rational market. Businesses do not tend to undercut others on price.

Portfolio Manager Scott Woods talks about how the team are operating from home, ongoing conversations with companies, and how he’s adapting portfolios to market moves.

With more than 4,500 under-researched small caps from which to choose, we are flush with ideas for investing in highly competitive companies

I flew into Washington DC on a Sunday and had just enough time for some sightseeing in the capital, although it was freezing and a bit of a whistle-stop tour. I then had to drive two-and-a-half hours into rural Winchester, Virginia, which felt empty as most places were closed in preparation for a snow storm.

I recently visited Trex, which manufactures composite decking, a mixture of plastic and wood which is quite expensive to buy