Scott Wallace, CFA, is 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 3,391 word interview with the Wall Street Transcript, Mr. Wallace details his current outlook for investors and his unique approach to creating above market returns:
“So Shorepath is a couple of things, all in the pursuit of one goal. And that goal is compounding our clients’ money at superior rates of return over long periods of time in a tax-effective manner.
The goal of this whole exercise is to leave people better off after having entrusted their money to us. And what we’re less concerned about is short-term performance, although you can’t ignore it totally. But long-term performance and long-term generation of capital appreciation is our goal.
And as a result of having that as our singular focus, we implement it in a certain way.
First, we believe that people like to have a relatively concentrated portfolio. So we don’t own that many names, typically around 20…”
One example of this unique approach is a relatively new portfolio position:
“…One of the ones that’s interesting and we’ve added some recently to is Schlumberger (NYSE:SLB). And this is one of the things that’s interesting in this whole move.
Schlumberger is really one of the best-managed oil service companies out there. But today, the stock has gotten so cheap that its dividend yield exceeds by a good margin its corporate bond yield.”
Get the full detail on this and many of Mr. Wallace’s other interesting investments in the complete 3,391 word interview, only in the Wall Street Transcript.