Short-term disruptions can be used to long-term advantage

Legg Mason manager uses 37-year-old, tried-and-tested system for stockpicking

Royce's Whitney George says he is seeing a broader buying opportunity in small caps now than ever before. However while Legg Mason US Smaller Companies has hugged the IMA North American Smaller Companies sector over one and three years, returning -22.6% and -28.2% against -20.5% and -33.1% respectively, George and his team have taken the fund from bottom place to pole position of eight peers over three months since October 2008, according to Morningstar data to 9 March. The team seeks to unearth undervalued stocks in the US small-cap space with 9% in Canada and 7.8% in cash, which Georg...