Contrarian money manager Steven Leuthold called it quits from the tightly regulated mutual fund business a couple of years ago. He wanted to escape from the rules, the pressures of managing billions and grueling publishing deadlines. Last year he launched Leuthold Strategies, a small private investment partnership. He’s investing in businesses that many investors consider to be toxic, including uranium mining and Chinese water and pharmaceutical companies. He’ll explain his unusual choices.
WEALTHTRACK Episode #1103; Originally Broadcast on July 11, 2014
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Founder, Leuthold Strategies
Look at just about any market’s performance anywhere around the world since the financial crisis and the U.S. market will come out at or near the top. It’s been a great time to be invested in America.
Where would you prefer not to have invested over the last five years?
One place is China, which has vastly underperformed the U.S. market. If you take it down a level to industry sectors of the market, one area you would not have touched with a ten-foot pole is uranium. Stocks of uranium companies have plummeted while the market has rallied.
Why on earth would I choose to highlight China and uranium? That’s a question I will ask this week’s guest, Steven Leuthold, because those are two areas where he is investing.
Leuthold, who has been called a contrarian’s contrarian comes by his independent streak naturally. He hails from Minnesota, what he refers to as the North Country. Indeed for three plus decades he published his monthly View from the North Country report for institutional clients.
He also founded and ran a leading independent institutional research firm, The Leuthold Group which was known for its quantitative research and asset allocation. He started an investment management arm there, creating seven mutual funds under the Leuthold name and overseeing $5 billion in assets under management at its peak.
Then a couple of years ago he decided to call it quits from the tightly regulated mutual fund business, although he remains a major shareholder at his old firm. He also wanted to escape from the pressures of managing billions and his grueling publishing deadlines. Last year he launched Leuthold Strategies, a small private investment partnership geared to high-net-worth individuals and requiring a minimum investment of $500,000. With a little under $100 million under management now, Leuthold plans to cap it at half a billion.
Although most of us can’t invest with him, Leuthold is worth listening to.
In this week’s WEALTHTRACK, we’ll hear what he is doing differently at Leuthold Strategies
Enjoy your summer weekend and make the week ahead a profitable and a productive one!
OWN SOMETHING YOU ARE UNCOMFORTABLE WITH, WITHIN REASON!
– LEUTHOLD RECOMMENDS SPDR GOLD SHARES (GLD)
No Bookshelf titles this week.
LEUTHOLD: BALANCED COMMODITIES
GreenHaven Continuous Commodity Index (GCC)
Price: $27.58 on 7/7
52-week range: $25.09 – $30.14
Beijing Enterprises Water Group Limited — Hong Kong Stock Exchange
Sound Global Ltd. — Hong Kong Stock Exchange
Fidelity China Region (FHKCX)
GreenHaven Continuous Commodity Index Fund (GCC)
Cameco Corp (CCJ)
Delta Airlines (DAL)
American Airlines (AAL)
Southwest Airlines (LUV)
SPDR Gold Shares (GLD)
AREVA ADR (ARVCY)
Rio Tinto Ltd (RIO)
BHP Billiton Ltd ADR (BHP)
Mathews China (MCHFX)
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May 15, 2009
Three top notch portfolio managers discuss their distinctly different views and management styles. Mark Headley lives and breathes investments in Asia as Chairman of the Matthews Asia Funds. Steve Leuthold relies on his quantitative models to find values at the Leuthold Funds, and Steve Romick can go short and long in his go-anywhere FPA Crescent Fund.
March 14, 2008
Two top investment pros who follow very different disciplines are looking outside of the U.S. to find some of their best investment opportunities. Peter Stamos is Chairman of a $5 billion private investment firm that invests like Harvard and Yale. Steve Leuthold is a veteran equities strategist and portfolio manager who follows proven quantitative models.
MUTUAL FUND EXIT
A couple of years ago Great Investor Steven Leuthold had $5 billion dollars under management and was overseeing 7 mutual funds at his old firm, The Leuthold Group, plus publishing a lengthy newsletter, View From the North Country every month. Then he decided to call it quits from the mutual fund business and launch a small private investment partnership, Leuthold Strategies, LLC. We asked him why.