This week’s portfolio managers run the gamut of styles and philosophies. Here’s an idea of how they are managing their clients money:
- Jason Kiss, Bartlett & Co.: ” For most of our clients, we manage all or a vast majority of their assets and so our value methodology tends to be a bit more wide-ranging than any strict definition might allow. We look to have some sort of a discount on the typical valuation metrics that go along with value investing such as the p/e and a higher dividend yield; but we’re not going to be at an extremely steep discount to the S&P 500 or the Russell 1000. With the Index at a 15 p/e we’re not going to be at 10; we’re more likely to be at a 13.5 to 14.0 level simply because we don’t feel it’s prudent to take such a big style bet with our client
- Martin Anstee, Stone Asset Managemnt: “The overall philosophy is attuned toward looking for growth situations. I look for growth and the other portfolio managers also look for growth. We have a lot of income-based products as well, which are mainly my products, but they are based not totally on dividend yield; they are based on growth as well.”
- Steve Wilson, Lapides Asset Management: “We do research-differentiated value investing. I’d characterize our research as exceptionally deep. It’s also global; we travel around the world to understand our companies, even though all of our investments are domiciled in the US. We have one investment philosophy and process that drives three portfolios, which are segmented by concentration and capitalization. Our process is long-term oriented, opportunistic and contrarian. We focus exclusively on investing in smaller companies, those with capitalizations that range from $50 million to $10 billion. ”
For the full investment strategies issue, including complete interviews with all these portfolio managers, and more, click here.