These are heady days for small-cap managers. Renewed investor interest in smaller companies means a successful manager has to hustle to keep up with demand. For Jerry Apodaca, speed and determination are keys to success.
His road to money management evolved from his interest in reading the Wall Street Journal in high school. And growing up the son of a governor - his dad, Jerry Sr., was New Mexico's governor in the 1970s - Mr. Apodaca understands the importance of "people skills." He also played football at the University of New Mexico, and the speed and dexterity he learned from sports and politics have been valuable in the investment climate of the late 1990s.
His firm, Apodaca Investment Group Inc., San Francisco, is riding the crest of small-cap success, and ranked fourth in Pensions & Investments' Performance Evaluation Report growth managed equity category for the five years ended June 30. The firm manages more than $300 million in assets.
But as the market does a jig, Mr. Apodaca is convinced opportunities remain for small-cap managers willing to do homework.
"As most of our clients are institutional, we take a long-term view. We will take some profit on stocks that have reached a certain level, but overall we're very pleased with the long-term prospects of smaller energy services, telecommunications and semiconductor equipment stocks."