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La Rose Noire Droptail cost more than $30 million and is the first of just four to be made. Buying a Rolls-Royce has always been a great way to show you have plenty of cash – but the British company has now revealed a unique car that cost more than $30 million. On Saturday the luxury carmaker unveiled La Rose Noire Droptail, a two-seater with hyper-specific features based on requests by its unnamed buyer. The Rolls-Royce La Rose Noire Droptail. Rolls-RoyceA representative told Bloomberg the car would cost more than $30 million.
Persons: Royce, Droptail, Royce didn't Organizations: Noire, Morning, Bloomberg Locations: Pebble Beach , California, British, France
But Chuck Royce, who has focused on investing in smaller companies for more than 50 years, did exactly that. "We were early in identifying this as a category for investing even before Russell showed up," he told Insider in a recent interview. Royce is the chairman of Royce Investment Partners, which manages $11.8 billion in assets — and 98% of that is invested in small caps. Big success with small capsDespite his deep roots in small-cap stocks, Royce didn't start out with a specific interest in smaller companies. Instead, after some early struggles, he found that buying high-quality smaller companies and putting together diversified portfolios was a good way to limit losses.
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