Archive for May, 2021

ROMICK – PANDEMIC IMPACT

May 14, 2021

Steven Romick and the FPA Crescent team were convinced early on that life would return to normal after COVID; they just didn’t know when. Romick describes how they coped and what’s changed.

Watch the related WEALTHTRACK episode.

David Swensen

May 11, 2021

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.

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An Embarrassment of Riches in the High Growth Stock Universe

May 10, 2021

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

HOW DO YOU TOP A +100% YEAR? BARON OPPORTUNITY FUND’S MICHAEL LIPPERT OUTLINES HIS HIGH GROWTH STRATEGY

May 7, 2021

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 »

LIPPERT: LIFE LESSONS

May 7, 2021

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

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