Harry Burn III and Mayo T. Smith discuss Sound Shore Management, Inc. From a universe of the 1,000 largest U.S. companies, Mr. Burn and Mr. Smith use relative p/e to find cheap companies that are out of favor. They want to invest in better-quality companies with stronger growth prospects and healthier balance sheets. Through their fundamental work, Mr. Burn and Mr. Smith aim to identify companies that have lost investor support but still have the ability to exceed expectations. Mr. Burn and Mr. Smith run a concentrated portfolio of 35 to 45 names that are weighted fairly equally. They try to keep their process flexible and limit industry weightings to 25% rather than enacting sector constraints.
Full interview available here.
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