VETERAN SMALL CAP VALUE MANAGER CHARLIE DREIFUS IS STICKING WITH HIS CONTRARIAN RISK AVERSE APPROACH
Small Cap value investor, Charlie Dreifus on why value has been badly lagging growth.
WEALTHTRACK Episode #1507; Originally Broadcast on August 03, 2018
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CHARLIE DREIFUS
- Lead Portfolio Manager,
- Royce Special Equity Fund
Newsletter available soon.
DE-RISK AT LEAST A PORTION OF YOUR PORTFOLIO
- Review your portfolio
- Faster growing but lesser quality stocks are usually more vulnerable in a market correction
- Bond issues graded less than investment grade can be as volatile as stocks
- De-risking can hurt performance in bull markets but can cushion losses in bear markets
No Bookshelf titles this week.
TIME TO DE-RISK
Buy a balanced fund with equities & high-quality bonds
Vanguard Wellesley Income (VWINX)
Price: $26.38
52-week range: $25.79 – $27.36
Cooper Tire & Rubber Co (CTB)
Winnebago Industries Inc (WGO)
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PRINCIPLED ACCOUNTING
Royce Special Equity Fund’s legendary value manager Charlie Dreifus is known for his deep dive accounting, going through company finances with a fine tooth comb to identify financial weaknesses and strengths. It’s a skill and passion he learned from his mentor, award-winning accounting professor Abraham “Abe” Briloff, a renowned forensic accountant known for exposing accounting chicanery in columns for Barron’s. Dreifus is determined to keep the Briloff legacy alive.
