Bringing Institutional Quality Service to Wealthy Families

Interview with Chet Rastogi, Partner and Portfolio Manager of Heron Bay Capital Management

Photo by Erik Mclean on Unsplash

Chetan Rastogi is a unique podcast guest for two main reasons. First, he helps oversee both discretionary and systematic strategies at Heron Bay Capital Management. Second, he is one of the rare people who still believes US microcap is an attractive asset class. In this wide-ranging discussion, we covered:

·      Heron Bay’s definition of a quality company;
·      What it means to be a good steward of clients’ capital;
·      Why the firm employs both discretionary and systematic strategies;
·      How he thinks about concentration in both types of strategies; and
·      The case for continuing to run a microcap strategy

You can find the full interview here:

Chet emphasizes how important it is to focus on the facts as opposed to believing narratives about companies. I was curious what that actually meant in practice so I asked Chet how the focus on facts versus narrative plays out within the firm's process. In this clip, he explains how coming from an operating background leads him to pay the most attention to facts and numbers.

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