For jeff caroon, small is big. Cardon has been running the Wasatch Small Cap Growth Fund since its 1986 inception. In fact, Cardon, 54, who's also chief executive of Salt Lake City-based Wasatch Advisors, has never worked at any other firm (his only other job was driving a bread truck during college). That longevity fits Wasatch's style: Cardon likes to buy small-cap growth stocks that can stay in the portfolio for a decade, growing 15% a year or more. The strategy has paid off for investors. The $1.5 billion fund (currently open only to new investors directly through Wasatch) has returned an average of 6.1% over the past decade, compared with 5.0% for the category and 2.7% for the S&P 500, according to Morningstar. Cardon sat down with Fortune to talk about why the key question today is not large cap vs. small cap but safety vs. risk, why he's looking overseas, and why a trucking company is one of the best-managed corporations he's seen in 30 years in the business.
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