Top fund manager Ken Heebner says that, while the market is not as cheap as it was last year, he is still finding US stocks quite attractive. Heebner tells WealthTrack’s Consuelo Mack that while prices are up, earnings are also up, and inflation is low. He continues to think that the economy has a number of years of growth ahead of it and that a number of companies will continue to produce solid earnings growth. Heebner also talks about whether the rise of high frequency trading has impacted his approach, and whether or not he sees today’s market environment as […]
Ken Heebner — whose CGM Focus fund has had its major ups and downs in recent years, but is in the top 1% of its class over the past 10 and 15 years, according to Morningstar — is making a big bet against Treasury bonds. According to Bloomberg, Heebner has used 21% of his $1.44 billion fund to short U.S. Treasuries. “We established a significant short position in U.S. Treasury bonds in anticipation of what we believe will be a stronger U.S. economy going forward,” Heebner said in a letter included with a regulatory filing that revealed CGM Focus had […]
While debt can be a dangerous thing, Fidelity’s Thomas Soviero — who recently supplanted Ken Heebner as the top-performing fund manager of the past decade — says it can also lead to opportunity. “Debt doesn’t have to be a four-letter word,” Soviero, whose Fidelity Advisor Leveraged Company Stock Fund averaged annual returns of 15% for the decade ending Mar. 31, tells Investment News. “When it works in your favor, good things can happen.” Soviero buys stock in junk-rated companies that can generate enough revenue to pay down debt or make smart acquisitions, Investment News reports, adding that he favors industries […]
Ken Heebner, whose CGM Focus fund has one of the better long-term track records around, and Blackrock’s Bob Doll both are sounding positive on the U.S. market. In an interview with CNBC, Heebner says he “continue[s] to be invested with the expectation that the economy’s going to be growing for several years, and this will be a very attractive point to buy stocks.” He says he thinks the U.S. is the best large market to put money into, with double-dip recession fears behind us. Doll, meanwhile, says he sees lots of good things happening in the U.S., and says the […]
Blackrock’s Bob Doll and CGM’s Ken Heebner both recently discussed their market outlook with CNBC. Both Doll and Heebner are finding reasons to be optimistic, and both shared a few areas of the market they’re keen on.