TheStreet: Small-Cap Manager Bets on Steel, Concrete to Lift Returns

At least one small-cap manager is going old school with his stock picks. Never mind a portfolio stacked with small but potentially game-changing tech-stocks. Instead, think steel girders, pre-mixed concrete and airlines. 
That's at least part of the story at Dallas-based Hodges Capital, according to Eric Marshall, the company's president and a portfolio manager of the Hodges Small Cap Fund  (HDPSX) .
Marshall says the investment philosophy centers around buying stocks as if the fund were becoming a private owner. Then it does extensive bottoms-up analysis of industries, individual stocks and the management of the companies in which it invests. 
"We want to be looking where others aren't," he said in an interview with TheStreet. "If it's on a screen" -- referring to ideas mentioned by news services and investing platforms -- "then the chances are someone has already discovered it."
Following is an edited summary of Hodge's comments here.
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