Archive for May, 2014

DREIFUS UPDATE

May 30, 2014
When most of the country’s public television stations are running pledge weeks, we are revisiting Consuelo’s interview with a WEALTHTRACK Great Investor who made his name investing in small company stocks. Charlie Dreifus, the portfolio manager of the Royce Special Equity funds explains why he now favors large companies in today’s markets. Watch that episode here.

We tracked down Great Investor Charles Dreifus at the Munich airport for an update on his view of the stock market and large vs. small cap stocks in particular.
You might remember from previous WEALTHTRACK interviews that Dreifus, a Morningstar Domestic Stock Fund Manager of the Year has run the small and micro-cap focused Royce Special Equity Fund successfully for the last 16 years and that he convinced his boss, small-cap pioneer Chuck Royce to let him launch a large-cap focused fund, the Royce Special Equity Multi-Cap Fund in 2010.

DREIFUS UPDATE TRANSCRIPT

May 30, 2014

On this week’s Consuelo Mack WealthTrack: a Great Investor who has made his name investing in small company stocks explains why he now favors large companies. Charlie Dreifus, the portfolio manager of the Royce Special Equity funds discusses where he is finding the greatest values in the market now.

Charles Dreifus Extra

May 30, 2014

PREMIUM: CHARLIE DREIFUS

May 29, 2014
When most of the country’s public television stations are running pledge weeks, we are revisiting Consuelo’s interview with a WEALTHTRACK Great Investor who made his name investing in small company stocks. Charlie Dreifus, the portfolio manager of the Royce Special Equity funds explains why he now favors large companies in today’s markets. Watch that episode here.

Dreifus Update

We tracked down Great Investor Charles Dreifus at the Munich airport for an update on his view of the stock market and large vs. small cap stocks in particular.
You might remember from previous WEALTHTRACK interviews that Dreifus, a Morningstar Domestic Stock Fund Manager of the Year has run the small and micro-cap focused Royce Special Equity Fund successfully for the last 16 years and that he convinced his boss, small-cap pioneer Chuck Royce to let him launch a large-cap focused fund, the Royce Special Equity Multi-Cap Fund in 2010.

WEALTHTRACK Episode #1049; Original post on May 30, 2014

Listen to the audio only version here:
CHARLES DREIFUS

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CHARLES DREIFUS

Portfolio Manager

Royce Special Equity Multi-Cap Fund

Consuelo Mack

This weekend is the start of two weekend fund-raising drives on public television so WEALTHTRACK might be pre-empted in your local market. Consequently we are replaying a Great Investor interview we originally aired in January. We always check with our guests before we do this and the Royce Fund’s Special Equity funds’ portfolio manager, Charlie Dreifus told us the interview still represents his current thinking. 

Just in case there were any nuances we should be aware of, we did an audio podcast with him this afternoon, while he was in the Munich airport after visiting international clients. They wanted to know his current views of the U.S. market and so did we. The headline is he is still very bullish. He will elaborate on the webcast which is available on wealthtrack.com to PREMIUM subscribers tonight and everyone else in our EXTRA feature starting this weekend. 

They say the best things come in small packages and that has certainly been the case in the stock market in recent years. Over the last decade small company stocks have outperformed large company ones by a significant margin, delivering 10.4 % annualized returns versus 7.1% annualized returns for large-cap ones.  

Since the market bottom of 2009 small-caps have also led, as they did last year. The Russell 2000 index, considered the benchmark for small stocks, advanced 38.8% in 2013, whereas the widely followed S&P 500 lagged with a not-too-shabby 32.4% return. 

Five years into a bull market where are the best values to be found? That is a question this week’s guest asks himself every day. Three years ago his answer caused him to expand his long-time concentration in small company stocks to include large ones as well. 

For the past 16 years Charlie Dreifus has been recognized for managing the Royce Special Equity Fund, a value-oriented small and micro-cap fund that has beaten its benchmark Russell 2000 index since inception, with less than market volatility. In 2010 Dreifus launched another value fund, but this one was not in small-caps and never will be. It is the Royce Special Equity Multi-Cap Fund and it is emphasizing large-cap stocks right now. It has also beaten its benchmark, the Russell 1000 since its inception three years ago. 

Dreifus will tell us why he wanted to go into big company stocks and why they remain his asset class of choice. 

Also, in the WEALTHTRACK WOMEN series on our website our panel of financial advisors is focusing on the financial issues facing divorced women. There are several key ones, including the hidden costs of divorce that could affect divorce agreements and financial  planning.   

Have a lovely weekend and make the week ahead a profitable and productive one.

Best Regards,    

Consuelo Mathews Asia

No Action Point this episode.

No Bookshelf titles this episode.

No One Investment this episode.

No stock mentions in this episode.
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CHARLES DREIFUS – A SMALL CAP INVESTOR THINKS BIG

A WEALTHTRACK Great Investor who has made his name investing in small company stocks explains why he now favors large companies. Charlie Dreifus, the portfolio manager of the Royce Special Equity funds discusses why big is better in today’s markets.

WATCH NOW… JANUARY 01, 2010

Dreifus was named Morningstar’s Domestic-Stock Fund Manager of the Year in 2008 and was just selected as a finalist for its Domestic Equity Fund Manager of the Decade award. Dreifus will discuss how he chooses the companies he invests in and the outlook for small cap stocks.

WEB EXTRA available soon.

PRENUPS MAKE A LOT OF $ENSE

May 29, 2014

With roughly half of all marriages ending in divorce, prenuptial agreements should be part of a woman’s financial thinking and planning, according to our financial advisers. As unromantic as it sounds, a woman needs to think of marriage — especially if she has significant assets of her own — as a financial transaction. Negotiating a prenup can be an ugly process, our advisers warn, adding that if things get ugly, that can be a signal of how the marriage itself will turn out.

 

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Who Gets Grandma’s Lamp?

Prenuptial agreements are highly personalized and can get very specific regarding who gets what in a divorce, says Dorie Fain of AndWealth in New York.

 

 

We Call It the “Bimbo Clause”

Whether you’re planning a traditional or same-sex marriage, among the most important details of your prenuptial agreement is what Jennifer Hatch of Christopher Street Financial calls “The Bimbo Clause,” as she explains in describing her own same-sex marriage.

 

 

No Pre-Nup? How about a Post-Nup?

Jennifer Hatch of New York-based Christopher Street Financial sees a lot of value in a pre-nup. When there’s no pre-nup, a post-nup may do the job.

 

 

Remarrying? Prenup Essential. Process Can be “Horrible”

The first piece of advice that Debra Taylor of Taylor Financial Group gives a woman considering remarriage is to get a prenup, no matter how difficult the negotiating process may become. And, boy, can it get difficult, she warns.

 

Ugly Prenup Process Can Foretell Ugly Marriage

Women should keep a close eye on the attorney their future spouse picks to represent him in prenup negotiations, advises Dorie Fain of AndWealth in New York. If the lawyer is contentious and/or condescending, that can be a tipoff about how the marriage will go.

 

 

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Dorie FainDORIE FAIN

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Ms. Fain runs a boutique financial advisory firm for a select group of women who are managing their new-found finances for the first time. She spent 12 years at Smith Barney, where she was the youngest woman ever hired into their training program.

 

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MAURA GRIFFINMAURA GRIFFIN

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Ms. Griffin has more than 20 years experience in the financial services industry, including stints at UBS Equities Research and Citigroup Private Bank. A graduate of Georgetown University, she is a Certified Financial Planner. MORE FROM MAURA GRIFFIN

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JENNIFER HATCH JENNIFER HATCH

Christopher Street Financial

Ms. Hatch has more than 20 years of Wall Street experience, including stints at JP Morgan and Bear Stearns, where she specialized in high yield bonds and international equities. She is a Certified Financial Planner dedicated to solving the financial dilemmas of same-sex couples.

 

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EVE KAPLAN EVE KAPLAN

Kaplan Financial Advisors

Before starting her own firm, Ms. Kaplan spent many years in international finance in New York, Tokyo, Singapore and Rotterdam. In Rotterdam she managed nearly $1 billion in invested equities.

 

Columns on The Alternative Press

Contributions to Forbes

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DEBRA TAYLOR DEBRA TAYLOR

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Formerly a practicing attorney, Ms. Taylor heads a full service wealth management firm that provides a multidisciplinary approach to the needs of her clients, which include high net worth individuals and families.

 

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