In this brief interview, Elizabeth M. Lilly, CFA, founder of a long-only investment firm focused on small-cap and micro-cap equities, explains how her investing style was shaped, in part, by Warren Buffett. She also discusses how she finds investment opportunities, the importance of a strong governance structure in firms, and how she avoids value traps and other pitfalls facing small cap value-oriented fund managers.   

The Take 15 Series is a series of short interviews with leading practitioners on timely topics focused on the investment profession.