Archive for May, 2014
DREIFUS UPDATE
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.
PREMIUM: CHARLIE DREIFUS
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
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,
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No One Investment this episode. No stock mentions in this episode. This transcript will be available soon. More information regarding WEALTHTRACK transcripts can be found here
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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.
PRENUPS MAKE A LOT OF $ENSE
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.
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.
More On Prenup Basics:
Why Every Woman Should Get a Prenup
Add a Prenup to Your Retirement Plan
Everything You Need to Know about a Prenup
Can Child Custody be Addressed in a Prenup?
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.
More On Prenup Infidelity Clause:
Do You Need an Infidelity Clause?
Can Infidelity Clause Deter Spouse from Cheating?
Legal Issues Regarding Infidelity Clauses
Infidelity Clauses May be Less Effective Than You Think
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.
More On Postnup Agreements:
What’s a Postnup? Do You Need One?
Why Stay-at-Home Moms Need a Postnup
Postnups More Popular, but They’re Not for Everyone
Can a Postnup Save a Marriage?
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.
More On Prenups & Remarriage:
Remarriage and Prenuptial Agreements
Prenuptial Agreements for 2nd Marriage Seniors
Think Through Second Marriage Prenup
Protecting Your Child’s Inheritance in a 2nd Marriage
Private Trusts & Premarital Agreements in Remarriage
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.
More On Prenup Process:
5 Reasons Why Your Prenup Might Be Invalid
10 Most Common Mistakes of Negotiating a Prenup
Surviving Prenuptial Agreements
MORE ABOUT OUR GUESTS

JENNIFER HATCH
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
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
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.
Columns on The Alternative Press
Contributions to Forbes
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