There's no doubt small-cap ASX shares can fly high in a hurry unlike anything their larger rivals are likely to do.
But nothing comes for free, and this type of explosive growth won't just fall into an investor's lap.
Picking the right small-cap stock requires much research of businesses where information might be pretty scarce.
And because many of them are in pre-profit or even pre-revenue stages, financial fundamentals might not even necessarily reflect their future potential.
It's indeed an imprecise art.
However, there are professional investors that study small caps for a living. Listening to their favourite picks and the rationale behind them might provide some insight for your own decisions.
One of those pros is Salter Brothers portfolio manager Gregg Taylor. This week, he named one ASX stock with a bright outlook that investors may not know much about:
Dirt cheap for 'defensive growth'
Acrow Formwork and Construction Srvc Ltd (ASX: ACF) provides services and formwork solutions for the civil construction industry.
Those in the know have flocked to the stock, seeing the share price rocket more than 39% over the past year.
Taylor's team reckons there's still upside in excess of 45% above the current share price over the next couple of years.
The business is "consistently growing" its revenue and earnings, as seen over the five years that it's been listed on the ASX.
Despite the rise in share price, Acrow shares are still trading at a price-to-earnings multiple of seven to eight times, which is a bargain in Taylor's eyes.
"So you're not paying a lot for that defensive growth."