Archive for May, 2021
GREAT INVESTOR STEVEN ROMICK LOADED UP ON UNLOVED STOCKS DURING 2020 SELL-OFF. WHAT’S HIS PLAN NOW?
“Jack be nimble Jack be quick” isn’t a concept one usually associates with long term value investors but sometimes extraordinary times call for exceptional responses. The first quarter of 2020 was one such event for this week’s guest.
Continue Reading »David Swensen
I was saddened to learn about the passing of David Swensen recently. The legendary, long-time manager of the Yale Endowment revolutionized the way endowments and other institutions invest, de-emphasizing stocks and bonds and redirecting funds to long-horizon alternative investments such as hedge funds, private equity, and tangible assets. He cared deeply about helping individuals invest successfully as well. We were honored to have him as a WEALTHTRACK exclusive for two episodes several years ago.
Continue Reading »An Embarrassment of Riches in the High Growth Stock Universe
There is a rule of thumb on Wall Street that when a fund knocks it out of the park in any given year or has an exceptional winning streak for a couple of years it is bound to fall to earth sooner rather than later and lag the market, its peers, or both for several years. It’s called reversion to the mean.
With few exceptions, this week’s guest has been in the winning streak category for a while. He is Michael Lippert, Head of Technology Research at Baron Capital and portfolio manager of the firm’s high-growth stock oriented Baron Opportunity Fund
Morningstar’s one caveat about the fund’s performance has been its volatility, as it focuses entirely on companies with high rates of growth, not on the mitigating effects of returning capital to shareholders with stock buybacks or dividends. Volatility is a topic Lippert tackled in-depth in a recent quarterly letter to fund shareholders. I ask him to share his views with us.
WEALTHTRACK #1745 broadcast on May 07,2021
More Info: https://wealthtrack.com/?p=22536
“The Volatility of Stock Investor Returns” Ilia D. Dichev, Emory University, Xin Zheng, University of British Columbia, 1/22/2021
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3663350
LIPPERT: LIFE LESSONS
High-performing portfolio manager Michael Lippert is taking the hard lessons learned from a life-threatening accident back in 2015 and applying them to the pandemic experience.
Watch the related WEALTHTRACK Epiosde
HOW DO YOU TOP A +100% YEAR? BARON OPPORTUNITY FUND’S MICHAEL LIPPERT OUTLINES HIS HIGH GROWTH STRATEGY
There is a rule of thumb on Wall Street that when a fund knocks it out of the park in any given year or has an exceptional winning streak for a couple of years it is bound to fall to earth sooner rather than later and lag the market, its peers, or both for several years. It’s called reversion to the mean.
Continue Reading »
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