October 16, 2009    

This week on Consuelo Mack WealthTrack with the long dominant efficient market theory under attack, what are the new guidelines for investors? We’ll ask two outstanding fund managers, Jerry Senser, a former Morningstar Fund Manager of the Year and the lead portfolio manager for all of ICAP, including their MainStay ICAP Funds, and noted contrarian Robert Kleinschmidt, who manages the top-rated Tocqueville Fund. Also joining the conversation, Justin Fox, Time magazine’s economics columnist and author of The Myth of the Rational Market.

Jerry Senser


“The One Investment...”

Earnings Driver

- Caterpillar (CAT)
  Price: $54.57 on 10/16
  52-week range: $21.71 - $54.79

Robert Kleinschmidt

President, Chief Investment Officer
     Tocqueville Asset Management



“The One Investment...”

Bet Against The Long Bond

- Short 30-year Treasury Bond at or below 4% yield

Justin Fox

Economics and Business Columnist, Time

    On The Bookshelf: The Myth of the Rational Market


“The One Investment...”

Emerging Growth
- Vanguard Emerging Markets Stock ETF (VWO)
  Price: $40.58 on 10/16
  52-week range: $18.50 – $42.99


PAY ATTENTION TO FEES


90% of 401(k)s are in actively managed funds
Minus 1% = 16% reduction in portfolio value

$500,000 Investment Account
Reducing 2.5% fee to 1.5%
= $90,000 over 10 years
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