The January bounce was in full swing — sending mega-cap tech stocks on head-snapping rallies — when I asked Jennifer Wallace, one of the savviest and most-accomplished long-term quality value investors I know, to lead off WOWS 2023 interviews. Jen, co-founder and CIO at Summit Street Capital Management, blinked not an eye, so we chatted last Monday and through the week as she kept up her usual grueling pace of research, meetings and more research, all the while tending to growing her clients’ capital in State Street’s flagship private investment fund — all with a dreadful cold.
If that couldn’t make her pause, neither could several weeks of a snap-back rally in last year’s worst-performing group. She’s seen that movie before. [More]