Scott Wallace is the Founder and Chief Investment Officer of Shorepath Capital Management LLC. Mr. Wallace joined AllianceBernstein as a U.S. Large Cap Growth Portfolio Manager in 2001 and became U.S. Large Cap Growth Team Leader on March 31, 2010. Mr. Wallace also was a partner and member of the senior leadership team at AllianceBernstein charged with managing and setting strategy for the firm. Prior to joining AllianceBernstein, he was with JPMorgan for 15 years, where he was a managing director and held a variety of roles in the U.S. and abroad, most recently as head of equities in Japan. Mr. Wallace has a B.A., magna cum laude, from Princeton University. In this exclusive interview in the Wall Street Transcript, Scott Wallace describes his investing philosophy as well as some specific stock recommendations from the Shorepath Capital stock portfolio.
“One of the things we believe very strongly is a no-labels approach to investing. No particular style or cap size has a monopoly on interesting franchises that trade at a meaningful discounthttps://www.twst.com/interview/looking-for-great-companies-trading-at-a-discount-to-intrinsic-value to their intrinsic value. We try really hard to be open-minded about all the labels that other people might attach to our investments. Right now, you’ll see a portfolio that tends to be a little more large-cap-focused. ”
The portfolio manager has a method for dealing with the current U.S. government:
“I think one of the things about Trump that has been a lesson to me so far in his presidency is to ignore the rhetoric, ignore the tweets and follow what he does. The tweets can be quite inflammatory, and if you follow them in your portfolio, you can often get led astray. So instead, follow what he is actually doing, and so far at least, what he’s doing on the trade front actually isn’t hugely different.”
This leads Scott Wallace to some interesting special situations.
“So there are a few individual companies we have found attractive lately. The first is a recent spinoff from Delphi Automotive (NYSE: DLPH) called Aptiv (NYSE:APTV). Aptiv does a lot of vehicle electrification, autonomous driving and user entertainment gear for cars. I bought it when it got spun out of Delphi. ”
To get additional top stock picks from Scott Wallace, Founder and CIO of Shorepath Capital, read the entire interview in the Wall Street Transcript.