Shiner Attracts Successful Small-Cap Investor
China OTC Player submits:
In a quiet filing made last week, I discovered that an investment firm called First Wilshire Securities had scooped up more than 1.9 million shares of Shiner International (BEST), the Hainan-based manufacturer of packaging film for food and other products. Who is First Wilshire Securities? I decided to find out more about them.
A visit to their website reveals very little. They seem like a run-of-the-mill boutique investor outfit. Then a Google search turned up the name Fred Astman, who is cited as the founder and one of the principals of First Wilshire. This guy has been called "the David who slew the Wall Street Goliaths". According to R. Max Bowser, Astman and his staff at First Wilshire managed to achieve a whopping investment return of 853% over the course of ten years, and they did this by making shrewd investments in small caps.