Certainly a very fair strategy and one that i take a punt on with some of my private investments i have too, 2 out of 10 is very very good, I'm no where near as lucky on these small caps. My batting record on these private firms is like 1 out of 24 so far. Little frustrating so you can imagine i've h eard quite alot of "optimistic" pitches in my time.
My experience has been trading derivatives, like credit default swaps. my main area of focus was emerging markets/south america. Other half of my career was looking at US government securities and municipal bonds. So i've always been more of a numbers guy.
So pardon my general skepticism (that i do with wine too),it's just the way i do things =)