Mr. Todd: Greenwood Capital is a registered investment advisor located in Greenwood, South Carolina. We manage about $700 million in assets for high net worth individuals and institutions as well. On the equity side, which we will be focusing on today, we run a large cap growth portfolio for our clients and I am the Co-Chief Investment Officer here at Greenwood.
TWST: What has the environment been like for large cap growth investing over the last 12 months? It's been a difficult year as we all know and the turmoil in the markets have sometimes led to opportunities. Have you found that to be so?
Mr. Todd: The investing environment in general, of course, has been very difficult over the past really 18 months, although I would note, we've had a nice move here since the low in March. Actually large cap growth in particular has done very well, and has outpaced large cap value pretty handily here, literally, over the downturn and through this upturn.
Now that's following a period starting in 2000 with the tech bubble that value outperformed growth dramatically for a seven-year period. We're just kind of in year two of what could be multi-year out performance of growth. We'll see. The turmoil in the market has created an opportunity for investors, the difficulty is, when you have a shock like we did last year, is getting people to invest in equities again, period, no matter what kind of style you're managing.
Tickers included in this excerpt: CL, COP, EMR, GENZ, GS, INTC, MS, PG, QCOM, SLB, TXN
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