Emerging markets have substantially underperformed the U.S. stock market over the last two years. There is one area however where emerging markets, particularly those in Asia, South America and China continue to shine: demand for luxury goods. Bain & Company reports that the so called “HENRYs” (High Earnings, Not Rich Yet) consumers in those markets are becoming a “new baby boom sized generation” for luxury goods. That is the sweet spot for this week’s Great Investor guest, David Winters. Winters is the Portfolio Manager of the value-oriented Wintergreen Fund which he founded in 2005. Since inception this go anywhere, invest in anything fund has outperformed the market and its mutual fund category.
WEALTHTRACK Episode #1004; Originally Broadcast on July 19, 2013
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Portfolio Manager, Wintergreen Fund
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Nestle SA ADR (NSRGY)
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“Nestlé’s become controversial because they’re growing a little slower. You know, they own L’Oreal. People don’t know what’s going to happen. But it has a three, three-and-a-half percent yield. They sell products that the world needs. And I was in Indonesia, in all these little places. Nestle products everywhere. You know? And I think that you could own Nestle, put it in your back pocket, or your safety deposit box, and come back in ten years, and it’ll be worth more.”
– David Winters
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WEB EXTRA: The key role optimism plays in investment success
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