Should Investors be Confident in Boston Beer Company’s (SAM) Returns?

SouthernSun Asset Management, LLC, an investment management firm, released its “SouthernSun SMID Cap Strategy” first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the strategy returned 8.53% on a gross basis (8.33% net) compared to a 6.92% return for the Russell 2500 Index and 6.07% for the Russell 2500 Value Index. The fund returned 22.95% on a gross basis (22.00% net) over the trailing 12 months compared to 21.43% and 21.33% returns for...