Monday, June 23, 2014

Is This The Next Warren Buffett?

A short while ago I was at a wedding in San Francisco when someone came up to me, clasped my hand in both of his, and began thanking me effusively. 
He then introduced me to his wife, who also began thanking me. 
The reason? Just over two years ago this couple had read an article I had written for Smart Money magazine about a young, unknown college dropout in Salt Lake City called Allan Mecham (The text of that article can be read here).  Mecham ran a tiny investment fund, I reported – and was shooting the lights out. After reading the article, the couple had investigated Mecham further, and had then invested a good chunk of their savings with him. 
The result? They’ve doubled their money, or better. In two years. Last year alone Mecham was up 52%. After fees.