This week's Barron's takes a look
at how former Longleaf Partners Clement T. Fitzpatrick
portfolio manager is handling his new fund, Vulcan Value Partners Small Cap Fund
Fitzpatrick resigned from Southeastern Asset Management (sponsor of Longleaf funds) in 2007 to move to Birmingham, Alabama and create Vulcan. Today, the new fund has $12 million in AUM, but the market is a comfortable one for Fitzpatrick. (He left SAM because he felt the firm had grown too big at $41 billion of AUM).
"Values are going up and stock prices are going down," he tells Barrons. "Value managers only feel good when the public feels bad. We have a much longer time horizon."
Sean Hanna, Editor in Chief
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