Value-oriented money manager Jeff Auxier
, who oversees the Auxier Focus Fund, is seeing significant opportunity in the markets right now. In the first quarter, he bought 10 new stocks for his portfolio, which now contains 140 companies, and did not sell out of any positions. The fund had been harboring more cash than usual, believing “recoveries following balance sheet recessions historically are more susceptible to outside shocks,” both as a precaution and to be ready to spend at the right time.
Exceptional stock picking has contributed to Auxier’s market-beating returns. In 2011, he returned 5.57%, more than twice the S&P’s 2.11% gain, and has returned 113.49% since inception in 1999, compared to 12.58% for the S&P. Continue Reading »