DAVID WINTERS: A DIFFERENT DRUMMER

March 28, 2014

More often than not, WEALTHTRACK guests march to the beat of a different drum. Wintergreen Fund’s David Winters, a value investor who describes himself as the opposite of an index hugger, has more than 60% of his portfolio invested in companies based overseas and has recently taken a stand against Coca Cola management and Warren Buffett!

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WEALTHTRACK Episode #1040; Originally Broadcast on March 28, 2014

Listen to the audio only version here: David Winters

 

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DAVID WINTERS

 

Portfolio Manager Wintergreen Fund

Consuelo Mack

Those of you who are regular viewers know that more often than not, our guests march to the beat of a different drummer. No matter what the economic or market climate, they each have their own distinctive and disciplined investment approach from which they do not deviate. Their consistent research and analytical skills might lead them to different types of investments and securities over the years, but how they get there does not change. WEALTHTRACK guest David Winters of Wintergreen Advisers and theWintergreen Fund is a prime example. His disciplined and contrarian approach made the news this week.

Wintergreen Advisers holds over 2.5 million shares of Coca Cola stock. Based on Winters’ research, Coke “has all of the attributes of a wonderful long-term investment.” However Coke recently proposed a 2014 Equity Plan to shareholders, to be voted on at its annual meeting. As is his practice Winters and his team read the entire proposal, including the fine print, and discovered it had an executive compensation plan Winters describes as excessive and a “raw deal for shareholders.”

Overnight, Winters turned from a management fan to a critic and he took his complaints public. He published letters he wrote to Coke shareholders, its Board of Directors and Warren Buffett, who is Coke’s largest shareholder through Berkshire Hathaway. Several days later he wrote Buffett and the Board again recommending the 2014 Equity Plan be withdrawn from shareholder consideration and “redesigned in a manner which is fair to both Coca-Cola shareholders and Coca-Cola management.” You can find all of his correspondence on his firm’s website.

For the record, Coke disagrees with Winters’ complaints and says his analysis is “misinformed and does not reflect the facts.”  We’ll have links with more in-depth information onour website.

David Winters is the CEO of Wintergreen Advisers, which he founded along with the value-oriented Wintergreen Fund in 2005. Similar to a hedge fund, Wintergreen can go anywhere and invest in anything, including distressed securities and arbitrage. He was nominated for Morningstar’s International Stock Fund Manager of the Year Award in both 2011 and 2010.

Surprisingly, Winters feels there are tremendous investment opportunities available in the market today, but not in America! Over 60% of his holdings are in companies based outside of the U.S. He will explain why and where he is finding his “trifecta” companies.

In our EXTRA feature, Winters will also reveal which company puts a smile on his face in his dreams!

We will soon be introducing a new section on our website as well. It’s called WEALTHTRACK WOMEN. Investment pros who specialize in advising women clients will answer questions vital to their financial health and their loved ones, including the men they care about!  We will let you know when it is up and running.

Have a great weekend and make the week ahead a profitable and productive one!

Best Regards,

Consuelo

Mathews Asia

Stick with investors and companies that are built to last.
No books associated with David Winters.
Canadian Natural Resources Ltd. (CNQ) Price $37.38

 

52 Week Range: 26.98 – 37.94

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Stock mentions in this episode: Sun Hung Kai Properties Ltd. (SUHJY)

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Nestle SA ADR (NSRGY)

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Berkshire Hathaway Inc. Class B (BRK.B)

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July 19, 2013

DAVID WINTERS: FIRST CLASS MERCHANDISE AT BARGAIN PRICES!

Emerging markets have substantially underperformed the U.S. stock market over the last two years. There is one area however where emerging markets, particularly those in Asia, South America and China continue to shine: demand for luxury goods. Bain & Company reports that the so called “HENRYs” (High Earnings, Not Rich Yet) consumers in those markets are becoming a “new baby boom sized generation” for luxury goods. That is the sweet spot for this week’s Great Investor guest, David Winters. Winters is the Portfolio Manager of the value-oriented Wintergreen Fund which he founded in 2005. Since inception this go anywhere, invest in anything fund has outperformed the market and its mutual fund category.   WATCH NOW…

October 5, 2012

David Winters:The Optimist Portfolio Manager

Central bankers are clearly worried about global growth. From the U.S., to Europe, to Asia, we have seen unprecedented levels of easing in recent weeks. By independent research firm ISI Group’s count, there have been more than 250 stimulative policy initiatives announced over the past 13 months. The firm also points out that we are less than 100 days from the famous fiscal cliff in the U.S., when numerous Bush era tax cuts expire and automatic spending cuts take effect if Congress and the White House can’t reach a budget compromise. If they don’t, estimates are that GDP growth could be reduced by as much as 3.5%, sending the economy into recession.

WATCH NOW…

David Winters: Sweet Dreams

Most of our Great Investors live and breathe investing, but David Winters takes it one step further he sometimes dreams about companies he is investing in! Right now, one company in particular is putting a smile on his face.


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