Allan Mecham

Tracy O /

Every investor dreams of beating the market. But very few money managers are able to pull it off on a consistent basis.

SmartMoney magazine recently profiled a fund manager who has beaten the odds. Allan Mecham, of Arlington Value Management, has racked up an impressive 400 percent gain in the past 12 years. An initial investment of $100,000 in his fund 12 years ago would be worth $500,000 today.