Ken Heebner

Ken Heebner

Last Update: 08-13-2015

Number of Stocks: 57
Number of New Stocks: 19

Total Value: $3,492 Mil
Q/Q Turnover: 32%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Ken Heebner Watch

  • Ken Heebner Invests in Financial Services Stocks in Second Quarter

    Financial Services are the second-most heavily weighted stocks in Ken Heebner (Trades, Portfolio)’s portfolio, so it wasn’t surprising that his largest new buys in the second quarter were in that category. In 1990, Heebner co-founded Capital Growth Management, where his growth-oriented approach produced returns of 1.39%, 37.61% and 14.23% in 2014, 2013 and 2012, respectively.


    Heebner bought a 728,000-share stake in Goldman Sachs Group Inc. (NYSE:GS), a New York-based multinational investment banking firm, for an average price of $203.51 per share. The purchase had a 4.35% impact on Heebner’s portfolio and landed Goldman Sachs Group in the sixth spot in Heebner’s 10 most-valuable stakes.

      


  • Powered by Strong Earnings, Marriott Is a Compelling Investment

    In this article, let's take a look at Marriott International, Inc. (NASDAQ:MAR), a $21.15 billion market cap company, which operates more than 3,500 hotels and 600,000 rooms in more than 50 countries.


    Joel Greenblatt (Trades, Portfolio) initiated a position in the company with 73,899 shares according to his fund's latest filing. The guru's philosophy involves finding cheap stocks and looking for a catalyst, so let´s take a look at why he initiated a new position in this stock.

      


  • Bill Frels' Stocks With Growing Yields

    Bill Frels (Trades, Portfolio) is the portfolio manager at Mairs & Power, which is an SEC-registered investment advisory firm and is Minnesota's oldest investment firm under private ownership and management.


    His portfolio is composed of 187 stocks and it has a total value of $7,270 million.

      


  • Is Standard Pacific Corp still a good buy ?

    The company:


    Standard Pacific Corp (SPF) is engaged in the business of constructing single-family attached and detached homes with operations in the metropolitan markets in California, Florida, Arizona, Texas, the Carolinas and Colorado. The Company builds homes in 25 markets through its 15 operating divisions. Its homes sizes typically range from approximately 1,500 to 3,500 square feet, although it has built homes from 1,100 to over 6,000 square feet. At December 31, 2013, the Company owned or controlled 34,175 home sites (including joint ventures) and had 180 active selling communities.

      


  • Ken Heebner's stocks trading with low P/E

    Ken Heebner (Trades, Portfolio) is the co-founder of Capital Growth Management, which is a privately owned investment manager. It was founded in 1990 and is based in Boston and the firm invests in the public equity markets of the United States. The firm provides its services to charitable organizations, pension and profit sharing plans, investment companies, and high net worth individuals.


    His portfolio is composed of 67 stocks and 33 of them are new stock bought during the last quarter. The total value of the portfolio is now $3,656 million and the following are the stocks that are trading with lowest P/E ratio and may be attractive for other investors.

      


  • Ken Heebner Makes 33 New Buys in First Quarter

    Ken Heebner (Trades, Portfolio) is the co-founder of Capital Growth Management, a money management firm that almost routinely produces positive returns, even in challenging investing environments. CGM’s return of 1.39% last year was dwarfed by the 37.61% return it had in 2013.


    Heebner has built his reputation on growth. His moves are often seen as daring, but they frequently pay off handsomely. His portfolio changes at a 33% quarter-over-quarter turnover clip, and there 33 new stakes in his portfolio, four of which are among his 20 most valuable stakes.

      


  • Ken Heebner's Most Heavily Weighted Trades In Q1 2015

    Ken Heebner (Trades, Portfolio) is the co-founder of Capital Growth Management, a money management firm with more than $6 billion under management.


    The portfolio is composed of 67 stocks and 33 of them are new stocks. Total value of the portfolio is $3,656 Mil with 33% Q/Q Turnover and the following are the most weighted trades during the Q1 2015.

      


  • Ken Heebner's CGM Focus Fund Q1 2015 Letter

    To Our Shareholders:


    CGM Focus Fund increased 2.2% during the first quarter of 2015 compared to a return of 1.0% for the Standard and Poor’s 500 Index (“S&P 500 Index”).

      


  • Ken Heebner's CGM Mutual Fund First Quarter 2015 Letter

    CGM Mutual Fund increased 3.6% during the first quarter of 2015 compared to a return of 1.0% for the Standard and Poor’s 500 Index (S&P 500 Index) and 1.7% for the Bank of America Merrill Lynch U.S. Corporate, Government and Mortgage Bond Index.

      


  • Ken Heebner increases stake in Whirlpool

    Ken Heebner (Trades, Portfolio) is a growth oriented investor who co-founded Capital Growth Management, a money management firm with more than $6 billion under management. Last quarter, he increased his position in Whirlpool Corporation (NYSE:WHR) by buying 597,000 shares. As of March 31, 2015, he was holding 742,000 shares of the company.The following chart shows his holding history in the company.


      


  • Ken Heebner Initiates Position in CarMax

    Ken Heebner (Trades, Portfolio) is a growth oriented investor who co-founded Capital Growth Management, a money management firm with more than $6 billion under management. Recently, he initiated a long position in CarMax (NYSE:KMX) by buying 105,000 shares of the company. Last month, Carmax reported strong Q4 results with its EPS of $0.67 coming well ahead of consensus estimates. The company's fundamentals look encouraging. Here's an analysis of the company in detail.


    CarMax is the nation’s largest retailer of used cars, based on the 526,929 used vehicles it retailed during the fiscal year ended Feb. 28. As of the end of fiscal 2014, the company operated 131 used car superstores in 64 metropolitan markets. CarMax is the first used vehicle retailer to offer a large selection of high quality used vehicles at low, “no-haggle” prices using a customer-friendly sales process in an attractive, modern sales facility. It allows customers to shop for vehicles the same way they shop for items at other “big-box” retailers. In addition the company also provides financing alternatives to its customers through CAF, its own finance operation, and third-party financing providers.

      


  • Analyzing Ken Heebner's New Buys

    Ken Heebner (Trades, Portfolio) is a growth oriented investor who co-founded Capital Growth Management, a money management firm with more than $6 billion under management. Recently, he initiated a long position in United Parcel Service (NYSE:UPS) by buying 150,000 shares of the company. The following chart shows his holding history in the company.


      


  • Citi Adds General Motors to its Focus List

    Citigroup recently added General Motors (NYSE:GM) to its focus list and reiterated its buy rating on the company. According to analysts, investors are missing some important catalysts that can likely help General Motors' stock price. In particular, he talked about margin expansion potential from 2016 and 2017 product cycles, accelerated European sales recovery, exit from loss making Russian operations and tailwinds from lower raw material prices.


    The company has seen positive commentaries from other analyst as well. Last week, Sterne, Agee & Leach analysts Michael Ward and Ali Faghri reiterated their Buy rating and a $50 price target on the stock citing the Canadian government plans to sell its remaining stake in the company. RBC Capital Markets analyst Joseph Spak also released a positive earnings preview on the company citing positive North American price and mix, and a lower than expected European loss.

      


  • Weekly CEO Buys Highlight: PHII, RHP, OPK, VNR, LUB

    According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below:


    PHI Inc (NASDAQ:PHII): CEO and 10% Owner Alton Anthony Gonsoulin Jr bought 57,632 shares

      


  • Why General Motors is a good buy at current levels

    General Motors (NYSE:GM) has seen a lot of positive analysts commentary after announcing $5 billion share repurchase program earlier this month. Citigroup’s analyst Itay Michaeli believes that the stock has more catalysts going forward. In his latest report, he commented,


      


  • Weekly 3-Year Low Highlights: IBM, ABEV, ITUB, OXY

    According to GuruFocus list of 3-year lows, International Business Machines Corp, Ambev SA, Itau Unibanco Holding SA and Occidental Petroleum Corp have all reached their 3-year lows.


    International Business Machines Corp (NYSE:IBM) Reached $157.08

      


  • Undervalued Stocks in Howard Marks' Portfolio

    Howard Marks (Trades, Portfolio) is the chairman of Oaktree Capital Management LP. Since the formation of Oaktree in 1995, Marks has been responsible for ensuring the firm's adherence to its core investment philosophy, communicating closely with clients concerning products and strategies, and managing the firm.


    Web Page:http://www.oaktreecapital.com/

      


  • Ken Heebner's CGM Mutual Fund 2014 Annual Letter

    CGM Mutual Fund increased 5.6% during the fourth quarter of 2014 compared to the Standard and Poor’s 500 Index which grew 4.9% and the Bank of America Merrill Lynch U.S. Corporate, Government and Mortgage Bond Index which returned 1.9% over the same period. For the twelve months ended December 31, 2014, CGM Mutual Fund increased 5.3%, the S&P 500 Index returned 13.7% and the Bank of America Merrill Lynch U.S. Corporate, Government and Mortgage Bond Index rose 6.4%.


    The Year in Review and Economic Outlook

      


  • Why Buffett, Soros and Other Hedge Fund Titans are Buying General Motors

    General Motors' (NYSE:GM) stock is seeing significant interest from fund managers off late. Last quarter, two of the Wall Street's savviest investors, Warren Buffett (Trades, Portfolio) and George Soros (Trades, Portfolio) increased their stake in the company. Warren Buffett (Trades, Portfolio) now holds 41 mn shares of the company while George Soros (Trades, Portfolio) holds ~3.86 mn shares and more than 1 mn call options. Other notable investors who bought shares of the company last quarter includes Ken Heebner (Trades, Portfolio), Ken Fisher (Trades, Portfolio) and T Boone Pickens.


    The company's business is improving and it has now been profitable for 20 consecutive quarters. Last quarter, GM's business delivered strong core operating performance with almost all key operating metrics including global deliveries, net income and adjusted EBIT improving. The company's adjusted EBIT was $2.4 billion for the fourth quarter, a $500 mn improvement over the prior year. Adjusted EBIT margin was 6.10%, up 140 basis points from the fourth quarter of 2013. Net income to common shareholders was $1.1 billion, up $200 mn compared to prior year period and earnings per share improved to $0.66 versus $0.57 of prior year.

      


  • Marriott´s Growth Strategy to Focus on Regions Outside the U.S.

    In this article, let's take a look at Marriott International, Inc. (NASDAQ:MAR), a $21.79 billion market cap company, which operates more than 3,500 hotels and 600,000 rooms in more than 50 countries.


    International Presence

      


  • Weekly 3-Year Low Highlights: RDS.B, GSK, WPZ, CLR

    According to GuruFocus list of 3-year lows; Royal Dutch Shell PLC, GlaxoSmithKline PLC, Williams Partners LP, and Continental Resources Inc have all reached their 3-year lows.


    Royal Dutch Shell PLC (NYSE:RDS.B) Reached $63.77

      


  • Investor Returns (or Lessons from Elk in Rut)

    The recent departure of Bill Gross from PIMCO had us thinking about the strengths and weaknesses of a portfolio manager who takes highly publicized positions and is perceived as a thought leader. How do investors react to funds and managers who outperform the markets with bold and sweeping investment styles? The answer in general is quite badly.


    Nothing gets the investors' juices flowing like a massive outperformance versus the general markets. Like an elk in late autumn, both individual and institutional investors charge through the proverbial forest brush to lay their hands (or other members as the case may be) on this shiny new object of their affection/need.

      


  • Investment Journal Review, 2014

    At times in the past, I’ve discussed my thoughts on using an investment journal; I’m convinced that this is an indispensable tool. Why do I believe this? Simply put, I think it’s too damn easy to trick yourself otherwise. Keeping an investment journal keeps you honest: you can’t change your previous beliefs (or what you’re brain has now convinced you was your original thinking as you soak up new evidence / biases over time) when you periodically track your thoughts in a journal.


    A little over a year ago, I shared some of my earlier journal entries with Gurufocus readers; I thought this would be an interesting exercise for another article – to reconsider some old posts, and some I had previously not discussed (along with one new one). Let’s jump right in:

      


  • Avago's CAGR Growth Makes Me Feel Bullish

    In this article, let's take a look at Avago Technologies Ltd (NASDAQ:AVGO), a $26.07 billion market cap company, which focuses on designing and developing radio frequency devices for wireless communications applications.


    Low cost

      


  • Weekly Guru Bargains Highlights: MT, FCX, CLR, BSBR, APA

    According to GuruFocus updates, these stocks have declined the most since Gurus have bought.


    ArcelorMittal SA (NYSE:MT): Down 22% since Jim Simons (Trades, Portfolio) bought in the quarter ended on 2014-06-30

      


  • Alcoa Reported Significant EPS Improvement

    Alcoa Inc. (NYSE:AA), a $19.24 billion market cap company, is one of the world's largest producers of aluminum.


    Aerospace and Auto Industry

      


  • Alcoa's Growth Drivers Justified Almost Doubling in a Year

    In this article, let's take a look at Alcoa Inc. (NYSE:AA), a $20 billion market cap, which is one of the world's largest producers of primary aluminum as well as one of the world's largest suppliers of alumina, an intermediate raw material used to make aluminum products for a variety of end markets.


    Cost curve and joint venture

      


  • Ford Continues to be Attractive

    In this article, let's take a look at Ford Motor Co. (NYSE:F), the second-largest U.S. producer of cars and trucks, which is immersed in a highly cyclical industry. Ford Motor Co. manufactures automobiles under its Ford and Lincoln brands.


    Economies of scale

      


  • Reasons to Consider Marriott in Your Portfolio

    In this article, let's take a look at Marriott International, Inc. (NASDAQ:MAR), a $17.93 billion market cap company, which operates more than 3,500 hotels and 600,000 rooms in more than 50 countries.


    Business model

      


  • A Good Stock to Buy: Micron Technologies

    In this article, let's take a look at Micron Technology, Inc (NASDAQ:MU), a $31.74 billion market cap company, which is a manufacturer of semiconductor memory products, including DRAM and NAND flash memory, as well as image sensors.


    Manufacturing technology

      


  • Ken Heebner's CGM Focus Fund Q2 2014 Update

    CGM Focus Fund increased 2.0% during the second quarter of 2014 compared to a return of 5.2% for the unmanaged Standard and Poor’s 500 Index over the same period. For the first six months of the year, CGM Focus Fund returned -0.3% and the unmanaged Standard and Poor’s 500 Index, 7.1%. In late June, the Bureau of Economic Analysis released a revised estimate for first quarter 2014 gross domestic product which indicated negative growth of 2.9%. Severe winter weather in much of the country was at least partially to blame, along with a late-falling Easter holiday though some pundits and media outlets were quick to predict a return to recession. However, data for the second quarter of 2014—specifically in housing and auto sales—suggests a rebound in economic growth.


    In fact, with the arrival of milder weather as early as March, the economy began to pick up. The Institute of Supply Management’s manufacturing index rose to 53.7 from 53.2 in February, and March employment numbers clocked in at a respectable 192,000 jobs added. Inflation remained relatively benign with the Consumer Price Index rising a slight 0.2% in March and 0.3% in April. On the first Friday in May, April employment numbers were released with 288,000 jobs reportedly added. The following month, May new job numbers were made public and the addition of 217,000 new hires, in our view, effectively dismissed many of the winter fears of a returning recession.

      


  • Ken Heebner's Fund Q2 Commentary

    CGM Mutual Fund increased 4.2% during the second quarter of 2014 compared to a return of 5.2% for the unmanaged Standard and Poor’s 500 Index and 2.2% for the Bank of America Merrill Lynch U.S. Corporate, Government and Mortgage Bond Index. For the first six months of the year, CGM Mutual Fund returned 1.1%, the unmanaged Standard and Poor’s 500 Index, 7.1% and the Bank of America Merrill Lynch U.S. Corporate, Government and Mortgage Bond Index, 4.2%. In late June, the Bureau of Economic Analysis released a revised estimate for first quarter 2014 gross domestic product which indicated negative growth of 2.9%. Severe winter weather in much of the country was at least partially to blame, along with a late-falling Easter holiday though some pundits and media outlets were quick to predict a return to recession. However, data for the second quarter of 2014—specifically in housing and auto sales—suggests a rebound in economic growth.


    In fact, with the arrival of milder weather as early as March, the economy began to pick up. The Institute of Supply Management’s manufacturing index rose to 53.7 from 53.2 in February, and March employment numbers clocked in at a respectable 192,000 jobs added. Inflation remained relatively benign with the Consumer Price Index rising a slight 0.2% in March and 0.3% in April. On the first Friday in May, April employment numbers were released with 288,000 jobs reportedly added. The following month, May new job numbers were made public and the addition of 217,000 new hires, in our view, effectively dismissed many of the winter fears of a returning recession.

      


  • Top Three Reasons to Invest in Walt Disney

    In this article, let's take a look at The Walt Disney Company (NYSE:DIS), a $150.37 billion market cap company, which is a media and entertainment conglomerate that has diversified global operations in theme parks, filmed entertainment, television broadcasting and consumer products.


    Two businesses

      


  • Visa Is a Buy According to Dividends Discount Model

    Visa Inc. (NYSE:V) is the world's largest retail electronic payments network and leading payments brand, providing services to consumers, businesses and governments globally. Its P/E ratio indicates that the stock is relatively overvalued (26.7 vs 12.4 of industry mean). So now let's take a look at the intrinsic value of this company and try to explain to investors the reasons why it is a good buy or not.


    In this article, we present a model that is by no means the be-all and end-all for valuation. The purpose is to force investors to evaluate different assumptions about growth and future prospects.

      


  • Why Wyndham Is Certainly a Winning Investment

    That the tourism industry, and especially the lodging, vacation rental and time-share segments, are subject to the national and global economy’s cyclicality is nothing new. However, surviving the dramatic effects of a recession is difficult, and thriving afterwards even more so. But Wyndham Worldwide Corporation (NYSE:WYN) has been one of the most successful industry players in this regard, having returned from a 12% revenue decline in 2009 to a current impressive 21.2% growth rate. While fourth quarter 2013 showed impressive financial results for the company, sporting quarterly revenue of $1.20 billion, and 9% EBITDA increase, many investment gurus like Ken Heebner (Trades, Portfolio) and Steve Mandel (Trades, Portfolio) rushed to buy shares. So, let’s see if this investment will bring profits or losses.


    A Profitable Three-Legged Business Model

      


  • Ken Heebner's CGM Mutual Fund 2013 Annual Commentary

    CGM Mutual Fund increased 8.1% during the fourth quarter of 2013 compared to the Standard and Poor's 500 Index which grew 10.5% and the Bank of America Merrill Lynch U.S. Corporate, Government and Mortgage Bond Index which declined -0.2% over the same period. For the twelve months ended December 31, 2013, CGM Mutual Fund increased 21.0%, the S&P 500 Index returned 32.4% and the Bank of America Merrill Lynch U.S. Corporate, Government and Mortgage Bond Index fell -2.3%.


    The Year in Review and Economic Outlook

      


  • Watch Out: Wynn Resorts Is in It for the Long Haul

    As the U.S. gambling industry has grown over the past few decades, and the market has become somewhat saturated, many casino operators have diversified their business models, focusing more energy and resources in Asian markets like Singapore or Macao, China. Wynn Resorts Ltd. (NASDAQ:WYNN) is one of the companies that has successfully installed its high-quality casino and resort brand in China, while still gaining revenue growth in the Las Vegas Strip. Maybe that’s why investment gurus Ken Heebner (Trades, Portfolio) and Steven Cohen (Trades, Portfolio) recently bought over 150,000 company shares each.


    Expansion in the VIP market

      


  • TRW Continues to Shine in the Auto Parts Industry

    TRW Automotive Holdings Corp (NYSE:TRW) is global supplier of automotive systems, modules and components to OEMs, and has grown into one of the most powerful players in the industry. Unlike most industry rivals, however, the firm has the ability to generate top- and bottom-line growth in unfavorable market situations, thanks to its ample portfolio. Hence, even when OEM’s aren’t selling big, TRW still manages to get enough business to stay afloat. And, thanks to revamped production levels in the U.S. and China, the company’s innovative technologies are more sought after than ever.


    Growing with the current

      


  • Groups of Gurus Hold Stocks on the Low

    According the GuruFocus Value Screen for finding 52-Week Lows, Equity Residential (NYSE:EQR), PG&E Corp (NYSE:PCG) and BRF SA (NYSE:BRFS) are guru-owned stocks traded at or near a 52-week low. Here are the company updates and recent trading highlights from top guru stakeholders.


    Equity Residential (NYSE:EQR)

      


  • Weekly CEO Buys Highlight: CLR, CLMS, OPK, PACB, GAIN

    According to GuruFocus Insider Data , these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below:

      


  • Guru Ken Heebner on Favorite Investments - Auto and Housing



  • A 'Green Alternative': The Leaders in Hydrogen Fuel Cell Technology

    The automobile industry is comprised of companies that design, manufacture, engineer, assemble and market automobiles and motorcycles. It is expected higher demand in emerging markets such as China, so with this positive outlook let's take a look at two companies in this highly cyclical industry.

    General Motors Company (NYSE:GM) designs, builds and sells cars, trucks and automobile parts. The company also provides financing services through General Motors Financial Company, Inc. The company’s automotive operations are conducted through four segments: GM North America (GMNA), GM Europe, GM International Operations and recently added GM South America.  


  • ‘Biggest Losers’ Update – WPO, OI, HST

    Over 12 months, Washington Post Company (WPO) is up 71%, Owens-Illinois Inc. (NYSE:OI) is up 49% and Host Hotels & Resorts Inc. (NYSE:HST) is up 14% but all three companies are among the ‘Biggest Losers’ in the S&P 500.

    On October 1, 2013, Jeff Bezos of Amazon.com completed his acquisition of Washington Post Company’s newspaper publishing business. He paid $250 million cash, according to USA Today.  


  • Ready, Steady, Go! The Race Between Japanese and American Car Manufacturers

    The auto industry is cyclical, which means that in bad times even the best companies cannot avoid declines in revenues. Two years ago, the earthquake in Japan disrupted production at automakers based in that country as well as their operations abroad. Today, a weak dollar and/or a slowly recovering in global demand for light vehicles could create a difficult environment for these companies.

    The S&P Automobile Manufacturers Index increased 30.03% year to date. And as of the second quarter of 2013, J.D. Power and Associates and LMC Automotive estimated that global new light vehicle sales would increase 2.9% in 2013. With this positive outlook, let's take a look at two companies in this highly cyclical industry.  


  • Entertaining Profits: Recreational Vehicles

    When the 2008 recession hit, recreational vehicles turned into an unnecessary luxury good. A recovering economy, however, gives the industry a second chance to continue growing. Here, two recreational vehicle manufacturers where guru Steven Cohen has been active will be analyzed in order to find a suitable stock for a long-term investment. The companies in case are: Harley Davidson (NYSE:HOG) and Polaris Industries (NYSE:PII).

    Turning into an All-American Brand  


  • Ken Heebner's CGM Mutual Fund Semi-Annual Letter

    CGM Mutual Fund returned -1.5% during the second quarter of 2013 compared to a return of 2.9% for the unmanaged Standard and Poor's 500 Index and -2.5% for the Bank of America Merrill Lynch U.S. Corporate, Government and Mortgage Bond Index. For the first six months of the year, CGM Mutual Fund returned 8.6%, the unmanaged Standard and Poor's 500 Index, 13.8% and the Bank of America Merrill Lynch U.S. Corporate, Government and Mortgage Bond Index, -2.6%.  


  • President and CEO of Nike Inc. Mark G. Parker Sold 120,000 Shares

    Nike Inc. was incorporated in 1968 under the laws of the state of Oregon. The company's main business activity is the design, development and worldwide marketing of high quality footwear, apparel, equipment and accessory products. Nike Inc. has a market cap of $56.2 billion; its shares were traded at around $62.79 with a P/E ratio of 24.50 and P/S ratio of 2.30. The dividend yield of Nike Inc. stocks is 1.30%. Nike, Inc. had an annual average earnings growth of 8.1% over the past 10 years. GuruFocus rated Nike Inc. the business predictability rank of 4.5-star.

    President and CEO of Nike Inc. (NYSE:NKE) Mark G. Parker sold 120,000 shares on July 22, 2013 at an average price of $63.5. The total transaction amount was $7,620,000.  


  • Ken Heebner Thinks the Pullback in Homebuilding Stocks Is a Buying Opportunity

    Ken Heebner thinks there will be a number of years of growth ahead for the economy.

    He actually thinks the rate of economic growth will accelerate and get to four or five percent a couple of years out.  


  • Legendary Fund Manager Ken Heebner - Interview

    Legendary portfolio manager Ken Heebner is known for his big bets and rapid trading at The CGM Funds. This week he describes his contrarian views on the U.S. economy and stocks, particularly housing and banking, and why he thinks bonds are so dangerous, on this week’s Consuelo Mack WealthTrack:



  • Ken Heebner's 2012 Annual Letter, Beats S&P

    CGM Mutual Fund increased 3.9% during the fourth quarter of 2012 compared to the Standard and Poor's 500 Index which declined -0.4% and the Merrill Lynch U.S. Corporate, Government and Mortgage Bond Index which returned 0.2% over the same period. For the twelve months ended December 31, 2012, CGM Mutual Fund increased 16.8%, the S&P 500 Index returned 16.0% and the Merrill Lynch U.S. Corporate, Government and Mortgage Bond Index increased 4.4%.

    The Year in Review and Economic Outlook  


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