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RECESSION & BEAR MARKET RISKS WITH FINANCIAL THOUGHT LEADER JASON TRENNERT
As the Dow and S&P 500 hit new records this week, there is much to contemplate and for the markets to digest in the final weeks of 2019. Time to consult Jason Trennert of Strategas Research Partners, a financial thought leader who has the scope to put it all together and tell us what it means.
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EXTRAORDINARY COMPOUNDING COMPANIES
We are always on the lookout for the exceptional on WEALTHTRACK. It’s not easy to find among actively managed mutual fund managers. Only 23% of actively managed funds in all major categories, including stocks, bonds, and real estate outperformed their passive index fund rivals over the last ten years. And only about 8% of U.S. large-cap funds outperformed passive, the smallest margin among all active fund categories winners. No wonder that active U.S. stock funds are experiencing substantial outflows and passive stock funds are gaining assets. In a historic shift, passive assets in U.S. equity funds recently surpassed those in actively managed ones for the first time ever.
This week’s guests are bucking all of those trends. They are active managers in primarily large-cap U.S. stocks. They have been beating the market and peers by substantial margins over the last decade and they are attracting more assets.
Joining us for a rare interview is Chuck Akre and John Neff of Akre Capital Management
WEALTHTRACK Episode #1619; Originally Broadcast on November 08, 2019
Listen to the audio only version here:
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- Guest Info
- Newsletter
- Action Point
- Bookshelf
- One Investment
- Stock Mentions
- Transcript
- Video Archive
- Web Extra
We are always on the lookout for the exceptional on WEALTHTRACK. It’s not easy to find among actively managed mutual fund managers. Only 23% of actively managed funds in all major categories, including stocks, bonds and real estate outperformed their passive index fund rivals over the last ten years. And only about 8% of U.S. large cap funds outperformed passive, the smallest margin among all active fund categories winners. No wonder that active U.S. stock funds are experiencing substantial outflows and passive stock funds are gaining assets. In an historic shift, passive assets in U.S. equity funds recently surpassed those in actively managed ones for the first time ever.
This week’s guests are bucking all of those trends. They are active managers in primarily large cap U.S. stocks. They have been beating the market and peers by substantial margins over the last decade and they are attracting more assets.
Joining us for a rare interview is Chuck Akre, Founder, Managing Member, Chief Executive Officer and Chief Investment Officer of Akre Capital Management which he launched in 1989 and moved from a suburb of Washington D.C. to rural Middleburg, Virginia in 2002.
Of the approximately $13 billion Akre Capital manages, nearly $12 billion is in the flagship, Akre Focus Fund which he launched ten years ago. Akre Focus is rated five star and carries a Silver Medalist Analyst rating from Morningstar and has a superb record, beating the S&P 500, the Russell 1000 Growth Index and its Large Growth category by substantial margins over multi-year periods, including 17% annualized returns since inception. It’s done so with a concentrated group of companies, only 17 holdings currently, most of them which it holds for years.
Another key member of the Akre team is John Neff, partner at Akre Capital Management, who joined the firm as an analyst in 2009 and is now Co-Portfolio Manager of Akre Focus Fund. Neff is not related to the late great investor by that name. He is building his own reputation at Akre Focus and is off to a good start.
If you are unable to join us for the show on television, you can watch it on our website over the weekend. If you would prefer to take WEALTHTRACK with you on your commute or travels, you can find the WEALTHTRACK podcast on TuneIn, Stitcher and SoundCloud, as well as iTunes and Spotify. In this week’s web EXTRA feature Chuck Akre and John Neff share some personal insights on keeping mentally fresh.
Thank you for watching. As the nation observes Veteran’s Day, we extend our gratitude and admiration to all who have served, including my husband and son. Have a memorable weekend and make the week ahead a profitable and a productive one.
Best regards,
Consuelo
Visa, Inc. (V)
Moody’s Corporation (MCO)
American Tower Corporation (AMT)
CHUCK AKRE: COMPOUNDING MACHINE
Great Investor Chuck Akre explains how he finds “compounding machines” – companies that produce high rates of returns for shareholders. Chuck says these companies are few and far between, but once he finds them, he holds on to them. The Akre Focus Fund is rated 5-star by Morningstar and has delivered nearly 19% annualized returns since its inception.
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BONDS WITH SOCIAL IMPACT WITH FIVE-STAR FUND MANAGER STEPHEN LIBERATORE
Socially responsible investing has taken off and interest in it is accelerating. As we’ve reported before on WEALTHTRACK, U.S assets invested in companies screened for ESG, or their environmental, social and governance policies grew 38% from 2016-2018 by more than $3 trillion to $12 trillion dollars. According to U.S. SIF, or the Forum for Sustainable and Responsible Investment, which tracks these funds, that $12 trillion represents 26%, or one in four dollars of the $46.6 trillion of U.S. assets under professional management.
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POLITICAL & ECONOMIC PRESSURES ON OIL & GAS STOCKS. INDUSTRY VETERAN TOM PETRIE’S REALITY CHECK
If you were to follow legendary investor Sir John Templeton’s advice to buy where there is maximum pessimism it might lead you to energy stocks. The energy sector has lagged the S&P 500 since 2016 and has been one of the worst if not the worst-performing industry sectors over the last year.
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IS CHINA WORTH THE INVESTMENT RISK? PROS & CONS WITH A SOVEREIGN RISK EXPERT AND CHINA FUND MANAGER
China’s middle class is growing and thriving with an estimated 400 million millennials alone, shopping and traveling. The Communist Party remains in control of the government and the legal system. The widespread western belief that democracy would develop as China’s economy and citizens flourished has not panned out.
Is China an unstoppable economic juggernaut with tremendous investment potential or a developing and thus risky economy?
With us this week to discuss the risks and opportunities are Idanna Appio, Senior Sovereign Analyst on the Global Value Team of First Eagle Investment Management.
Tiffany Hsiao is a Portfolio Manager at Matthews Asia, one of the first fund families to specialize in the region.
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