Armistice Capital Fund: Armistice Capital

Next small thing

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Armistice Capital’s Steven Boyd does not envy his larger rivals

‘Small is beautiful,' wrote EF Schumacher in his famous discourse on sustainable economics published in 1973.

Steven Boyd seems to agree.

Armistice Capital, the hedge fund he founded in July 2012, finds value in smaller companies that are neglected by other managers.

"A lot of hedge funds think sub-$1 billion companies are too small to care about," says Boyd, "but that's where we find the most opportunities."

Stocks that have fewer sell-side analysts and hedge funds following them are more likely to