Ken Fisher

Ken Fisher

Last Update: 04-18-2016

Number of Stocks: 687
Number of New Stocks: 42

Total Value: $50,773 Mil
Q/Q Turnover: 3%

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

Ken Fisher Watch

  • Growing EPS for Undervalued Stocks

    Companies with growing EPS are often a good investment as they can return a good profit to investors. Here is a selection of the most undervalued companies, according to the DCF calculator, that have a five-year growing EPS.

    Earnings per share of Ever-Glory International Group Inc. (EVK) grew by 15% over the last five years; according to the DCF calculator, the stock at the price of $1.65 is undervalued and trading with a margin of safety of 94%.


  • Disney’s Stock Down After Latest Earnings Report

    U.S. stocks opened lower Wednesday after a two-day rally to start the week. Disney’s (NYSE:DIS) earnings report Tuesday evening after the bell was a significant factor for the market’s lower valuations. Also contributing to the losses were Macy’s (NYSE:M) and Staples (NASDAQ:SPLS), both retailers with disappointing earnings and outlooks.

    Disney’s earnings results late Tuesday missed analysts’ expectations for both revenue and earnings. Revenue was $12.97 billion, up 4.1% from the comparable quarter and missing analysts’ expectations by $220 million. EPS of $1.36 missed analysts’ expectations by 4 cents. On Wednesday, shares are down 4.52 points or 4.24% to $102.08. In the broader market, the Dow Jones Industrial Average is down 144.28 points to 0.80% at 17,784.07. The S&P 500 is down 11.67 points or 0.56% to 2,072.72. The SPDR S&P Retail Index is down 1.58 points or 3.62%. In a CNBC interview, industry specialists discussed their insights on the company and its earnings report.


  • Stocks Fisher Investments Has Bought for Past 2 Quarters

    Ken Fisher (Trades, Portfolio) is the CEO and CIO of Fisher Investments. The investment philosophy at Fisher Investments is based on the idea that supply and demand of securities is the sole determinate of pricing. The following are the companies the investor has been buying for at least the last two quarters.

    Colgate-Palmolive Co. (CL)


  • Guru Stocks With High Yield and Profitability

    Thanks to GuruFocus’ All-In-One Screener, I want to highlight stocks that have a growing dividend yield with sustainable payout ratio. This sustainability is confirmed by long-term profitability and a very strong financial situation.

    CA Inc. (CA)


  • Ken Fisher Sells Out Holding in Heartland Payment Systems

    Guru Ken Fisher (Trades, Portfolio) sold out his stake in Heartland Payment Systems (NYSE:HPY) in the first quarter.

    Heartland Payment Systems was incorporated in 2000 in the state of Delaware. The company provides Card Payment Processing services to merchants in the U.S. and provides end-to-end electronic payment processing services to merchants. The company primarily focuses their business on secure payments for the restaurant, lodging and hospitality, education, and Petroleum/C store industries. As of December 2015, Heartland Payment Systems employs 4,272 full time employees across the U.S.


  • Ken Fisher Nearly Exits Position in Prudential

    Guru Ken Fisher (Trades, Portfolio), chief executive officer and chief investment officer of Fisher Investments, made more than 40 new buys in the first quarter, but his most noteworthy transaction was the sale of nearly all of his stake in Prudential PLC (NYSE:PUK), a London-based insurance and financial services company.

    Fisher sold 2,865,795 shares for an average price of $37.41 per share. The transaction had a -0.26% impact on his portfolio.


  • Stocks FPA Capital Keeps On Buying

    FPA Capital Fund (Trades, Portfolio) has a concentrated portfolio and invests primarily in undervalued small to midcap companies. The following are the companies the fund has been buying for at least the last two quarters.

    Veeco Instruments Inc. (VECO)


  • Growing EPS for Viacom, Western Digital, Fossil

    Companies with growing EPS are often a good investment as they can return a very good profit to investors. Here is a selection of the most undervalued companies, according to the DCF calculator, that have a five-year growing EPS.

    Earnings per share of Waddell & Reed Financial Inc. (WDR) grew by 14% over the last five years; according to the DCF calculator, the stock, at the price of $22.41, is undervalued and trading with a margin of safety of 70%.


  • Ken Fisher Invests in

    Guru Ken Fisher (Trades, Portfolio) purchased a 2,269,246-share stake in (NASDAQ:JD) in the first quarter., which stands for Jingdong Mall, is an online direct sales company that is based in China. The company acquires products from suppliers and then sells them directly to customers in more than 140 countries worldwide. Through its website and mobile applications, the company offers a variety of products including household appliances, mobile phones, household furniture, audio books, children's books, lottery tickets, food and other products.


  • John Rogers' Recent Trades

    John Rogers (Trades, Portfolio) is the founder of Ariel Investment LLC, which he started in 1983. As of 2008, the firm had over $15.5 billion in assets under management. The following are his first trades during the first quarter:

    His stake in Cowen Group Inc. (COWN) has been raised by 53.76%. The deal had an impact of 0.16% on the portfolio.


  • Best Performing Guru Stocks

    The following are some of the stocks that outperformed the S&P 500 Index over the last 12 months and have been bought by gurus during the last quarter. International Ltd. (CTRP) has a market cap of $13.57 billion, and during the last 12 months has outperformed the S&P 500 Index by 47.2%. Currently, five gurus are holding the company that declined 4% year-to-date but gained 112% during the last five years. It is now trading with a P/E ratio of 41.50 and according to the DCF calculator, it looks overpriced by 88%.


  • Jana Partners Trims Qualcomm Holding by 67%

    Jana Partners LLC is an investment manager specializing in event-driven investing and was founded in 2001 by Barry Rosenstein, Jana’s managing partner and co-portfolio manager. Jana typically applies a fundamental value discipline to identify undervalued companies that have one or more specific catalysts to unlock value.

    The investor reduced its stake in Qualcomm Inc. (QCOM) by 67.73% and the deal had an impact of -11.71% on the portfolio.


  • Guru Stocks at 52-Week Lows

    According to GuruFocus' list of 52-week lows, these guru stocks have reached their 52-week lows.

    Philippine Long Distance Telephone reached the 52-week low of $36.96


  • Chase Coleman Sells Autohome, IBM in 4th Quarter

    Chase Coleman (Trades, Portfolio) is the founder of Tiger Global Management. During the fourth quarter he sold many stocks.

    He reduced his stake in Autohome Inc. (ATHM) by 42.76%. The deal had an impact of -1.5% on the portfolio.


  • Charles Brandes' Top Buys During the 4th Quarter

    Charles Brandes (Trades, Portfolio), chairman of Brandes Investment Partners, increased his stakes in many stocks in the fourth quarter.

    He raised his stake in Credit Suisse Group AG (CS) by 121.44%. The deal had an impact of 0.52% on the portfolio.


  • 'Outsmarting the Crowd': A Book for Beginning Investors

    Bogumil K. Baranowski just published a book called "Outsmarting the Crowd," his day job is managing a private investment fund at Tocqueville Asset Management, and he has over a decade of investing experience. Like so many professional money managers, he lives and works in New York City. What I loved about the book is that Baranowski is truly passionate about helping readers develop a succesful investment style. The book's summary says its about the Buffett-Graham style of investing, but I think Baranowski's presented teachings are much more in the late Warren Buffet style of investing. Buffet/Fisher would be a more apt comparison in my humble opinion.



  • Examining Kroger’s Valuation

    Kroger (NYSE:KR) is a $38.45 billion market cap company and will announce its Q4 earnings on March 3. According to the below chart, since the beginning of the February 2011, Kroger has outperformed the supermarket sector and its peers. However, 2016 has not been a good year for Kroger so far. Kroger's stock price has come down 6% on year to date basis, which is somewhat in line with the S&P 500, which has declined around 4%.


  • Jeremy Grantham's GMO Ups Stake in EMC Corp.

    Jeremy Grantham (Trades, Portfolio) is the chairman and co-founder of the investment firm Grantham, Mayo, Van Otterloo & Co. LLC, which is based in Boston. The firm was founded in 1977 with a partnership between Grantham, Richard Mayo, and Eyk Van Otterloo. Initially the three partners were solely managing U.S equity portfolios. As the years rolled on, the firm expanded and became a globally diversified investment firm.

    GMO currently owns 543 stocks with a total valuation of $27.8 billion.


  • Stocks Tumble to 5-Year Lows

    According to GuruFocus' list of five-year lows, these guru stocks have reached their historical low prices: Oceaneering International Inc. (NYSE:OII), Rackspace Hosting Inc. (NYSE:RAX), Genesis Energy LP (NYSE:GEL) and Rayonier Inc. (NYSE:RYN)

    Oceaneering International reached $27.12


  • Ken Fisher for Forbes: Why My Losers May Be Your Winners

    As I write, the stock market has had its worst start to a year since 2009. Nineteen ninety-eight was similarly bad. With it, sentiment and market commentary have turned increasingly dour. Note that in both 1998 and 2009, markets went on a wild ride, but the S&P 500 ended up 28% and 20%, respectively.

    Last month I said I expected good things in 2016, not necessarily gangbusters. But I’m not disheartened by any few weeks. Markets are volatile–always have been.


  • Gabelli, Fisher Increase Positions in Inc. (NYSE:CRM) is a leading provider of on-demand enterprise applications. The company has an excellent customer relationship management offering, which is recognized by clients. The stock has declined 25% on a year-to-date basis.



  • Valeant's Share Price Continues to Decline

    Valeant Pharmaceuticals Inc. (NYSE:VRX), one of the best specialty drugmakers, has been trading down since September 2015 when the last rally was seen. Since then, the stock plunged to less than half of its value.


  • Ford, General Motors Among Stocks Trading With Low PS Ratio

    According to GuruFocus' All-in-One Screener, the following are the stocks that are companies with a market cap above $5 billion that are trading with a very low P/S ratio.

    ArcelorMittal SA (MT) is trading at about $3.8 with a P/S ratio of 0.10 and an estimated forward P/E multiple of 5.44. The company has a market cap of $6.29 billion and over the last 10 years, the stock has dropped by 89%. During the last 52 weeks, the price has been as high as $11.95 and as low as $3.25.


  • Honeywell's Earnings Report Rewards Investors

    It is hardly a stretch to say that the bumpy start to 2016 has made a lot of investors nervous, and their moods weren’t helped when Boeing’s (NYSE:BA) share price fell to a 52-week low following a discouraging earnings report on Wednesday, Jan. 27.

    But Honeywell’s (NYSE:HON) considerably sunnier report on Friday was more encouraging. Investors were rewarded with the news that Honeywell, a Morris Plains, New Jersey-based conglomerate that makes products and provides services for an extensive and diverse list of customers, saw increases in reported EPS (13%), cash flow from operations (9%) and free cash flow (11%) in 2015 compared to 2014.


  • Ken Fisher Trims Stake in Heartland Payment Systems

    Ken Fisher (Trades, Portfolio), CEO and CIO of Fisher Investments, trimmed his stake in Heartland Payment Systems Inc. (NYSE:HPY), a Princeton, New Jersey-based electronic payment processing company, by nearly 29% in the fourth quarter.

    Heartland processes payments for more than 275,000 businesses in the U.S. In 2014 the company was ranked the country’s sixth-largest payment processor by transactions and eighth-largest by dollar volume.


  • Citigroup CEO Invests in Company

    Michael Corbat (Insider Trades), CEO of Citigroup Inc. (C), bought 25,000 shares of the company on Jan. 22. The average price per share was $41.05, for a total transaction of $1,026,250.

    Citigroup is a global bank that does business in more than 160 countries and jurisdictions. The company’s market cap is $119.43 billion, and the P/S ratio is 1.75.


  • 10 Fund Managers Are Totally Wrong on GlaxoSmithKline

    There are four big positions by guru investors in GlaxoSmithKline (GSK)  starting with Ken Fisher (Trades, Portfolio) who owns 11.5 million shares, John Rogers (Trades, Portfolio) taking 1.4 million shares, Charles Brandes (Trades, Portfolio) with 4.6 million shares and ending with HOTCHKIS & WILEY at 12.4 million shares.


  • Fisher Investments' 4th Quarter New Buys

    Ken Fisher (Trades, Portfolio) is the CEO and CIO of Fisher Investments. The following stocks are a few of the firm's new buys during the fourth quarter.

    The firm acquired 4,369,195 shares in America Movil SAB de CV (AMX) with an impact of 0.12% on the portfolio. The investor now holds 0.13% of the company’s outstanding shares.


  • Ken Fisher Initiates Holding in DuPont

    Ken Fisher (Trades, Portfolio) is not only an extremely successful investment guru, he is also a bestselling author of many popular books such as "Beat The Crowd," "Superstocks," and "The Only Three Questions That Still Count." Fisher has been able to amass a fortune in the market starting with very little capital. He started Fisher Investments with $250 in 1979, and today the firm currently owns 743 stocks, with a total valuation of over $50 billion. Fisher is currently ranked as the world's 221st richest man, with an estimated net worth of $2.6 billion according to

    On Dec. 31, 2015, Fisher purchased over 4,000 shares of E I du Pont de Nemours & Co. (NYSE:DD), a company that has been around for more than 200 years.


  • Guru Raises Stake in Search Engine Giant

    Guru Ken Fisher (TradesPortfolio) increased his stake in Baidu (NASDAQ:BIDU) by 4.47% in the fourth quarter of 2015.

    Fisher is the founder and CEO of Fisher Investments. Fisher Investments manages money for some of the wealthiest Americans, taking the approach of looking after clients by fully managing every aspect of the clients' portfolios including asset allocation, account setup and trading individual securities. The firm has a global investment approach, often looking for advantages when market conditions change.


  • Guru Sells Out More Than 11 Million Shares in PMC-Sierra

    Guru Ken Fisher (Trades, Portfolio) sold out more than 11 million shares insemiconductor company PMC-Sierra Inc. (NASDAQ:PMCS) in the fourth quarter.

    Fisher is the founder and CEO of Fisher Investments, which manages money for some of the wealthiest Americans. The firm takes the approach of looking after its clients by fully managing every aspect of the clients' portfolios including asset allocation, account setup and trading individual securities. It has a global investment approach, often looking for advantages when market conditions change.


  • Gurus Are Buying These High-Yield Stocks

    The following are companies with high and growing dividend yields that gurus are buying according to GuruFocus' All-in-One Screener.

    Anheuser-Busch Inbev SA (BUD) has a trailing dividend yield of 3.39% with a three-year growth rate of 43% and a five-year growth rate of 74.90%. The stock is now trading with a trailing 12-month P/E multiple of 22.10 and an estimated forward P/E multiple of 20.62. During the last 12 months, the stock price didn’t face any change.


  • Ken Fisher Makes Huge Investments in CalAtlantic and Stratasys

    Ken Fisher (Trades, Portfolio) is founder and CEO of Fisher Investments, an independent money management firm that, with nearly $68 billion in assets under management, has been called the largest wealth manager in the U.S.

    In the fourth quarter, Fisher didn’t limit his investment activity to the U.S., with transactions involving companies in Russia, Shanghai and Mexico, and he had more than 100 new buys.


  • Ken Fisher Sells Shares of PMC Sierra, Alphabet During 4th Quarter

    Ken Fisher (Trades, Portfolio) is the CEO and CIO of Fisher Investments. He sold shares of about 200 companies during the fourth quarter, and the following are the most important sales.

    He sold out his stake in PMC-Sierra Inc. (PMCS) with an impact of 0.16% on the portfolio.


  • Share Your Year-End Performance, Best Picks for 2016

    It’s a new year and we’re interested in hearing how GuruFocus members fared in 2015, a rather tough year for the market. What were your best holdings, which stocks were your largest detractors and what is your best idea for 2016? Share your picks in the comments area below.

    The gurus posted performances all across the spectrum. Carl Icahn (Trades, Portfolio), who was recently voted Guru of the Year by a landslide, had a busy 2015 with a multitude of activist moves involving companies like AIG (NYSE:AIG), Pep Boys (NYSE:PBY) and Cheniere Energy (LNG). Despite being down 2.8% through the third quarter, Icahn’s fund is still outperforming the S&P 500, which declined 8% over the same time frame.  

  • Ken Fisher for Forbes - Your 2016 Portfolio Playbook

    My 2016 market views and prescribed positioning: moderate bullishness! I’m overweighting America but also northwestern Europe, South Korea and India, and I’m underweighting elsewhere, most heavily Japan, Canada and Australia.

    I’m overweight health care (primarily drugs) and to lesser degrees tech, consumer discretionary and financials (mainly banks). I’m underweighting staples and to greater degrees telecom, utilities, energy, industrials and materials.


  • Mariko Gordon's Largest Cuts During the 3rd Quarter

    Mariko Gordon (Trades, Portfolio), CFA, reduced 10 of her existing stakes by more than 20% in the third quarter.

    Gordon is the founder of Daruma Capital Management, which she founded in 1995 with zero assets.


  • Home Depot Leading in the Retail Sector

    Retail sales in November were up 0.2%, according to the U.S. Census Bureau’s most recent report. Meanwhile, consumers also reported increased optimism in the economy overall, according to the University of Michigan’s December Consumer Sentiment Index. While both reports released during the Dec. 11 week were broadly positive, each slightly missed economists’ expectations as the retail sector overall continues to see a trend towards lower sales forecasts for the 2015 holiday season.

    While sales in the retail sector overall have been trending downward, Home Depot (NYSE:HD) has continued to gain. With mortgage rates at all-time lows and the housing market a lead catalyst for the economy, Home Depot has been emerging as one of the retail sectors best performing stocks. Specifically in December as companies focus on their holiday sales forecasts with broad downgrades, Home Depot has gained, posting strong results and continued positive forward guidance.


  • Undervalued Holdings in Fisher Investments' Portfolios

    Ken Fisher (Trades, Portfolio) is the CEO and CIO of Fisher Investments. The investment philosophy at the firm is based on the idea that supply and demand of securities is the sole determinate of their pricing. Furthermore, they believe that all widely known information has already been priced into the market. The following are companies in the firm's various portfolios that are worth considering, since they are trading with a wide margin of safety according to the DCF calculator.

    Credicorp Ltd. (BAP)


  • Interview: Investor, Columnist, Author Ken Fisher

    CEO of Fisher Investments and long-time Forbes columnist Ken Fisher (Trades, Portfolio) arguably has investing in his blood. His father is noted money manager Phil Fisher, author of the bestselling "Common Stocks and Uncommon Profits." Since founding Fisher Investments in 1979, Fisher today manages money for more than 27,000 individuals and more than 150 institutional clients. In addition, he is the author of 11 books on investing, the most recent of which is “Beat the Crowd: How You Can Out-Invest the Herd by Thinking Differently."

    Fisher recently took the time to answer questions from GuruFocus about his top-down strategy, book recommendations and how his view of using the PS ratio as a stock-picking tool has evolved.


  • David Einhorn Buys Apple, Dillards and Sells Micron Technologies, Michael Kors

    David Einhorn (Trades, Portfolio) is president of Greenlight Capital, a value-oriented investment advisor. He manages a portfolio composed of 42 stocks with a total value of $6.032 billion and his largest trade in the third quarter involved Apple Inc. (NASDAQ:AAPL) with a huge impact of 7.03%.

    Einhorn raised his stake in Apple by 52.08% with an impact of 7.03% on his portfolio.


  • Ken Fisher for Forbes - Back to the Future the Bull Rumbles Forward

    The most stunning unnoted market phenomena right now are the parallels between the past eight years and the period between 1988 and 1997. History never repeats itself, but this rhymes. This bull cycle may last longer than anyone imagines–maybe the longest ever.

    Some 1990s parallels were larger than now, some smaller and some surely coincidental. That said, substitute the 1990′s “S&L Crisis” for 2008′s “Home Mortgage Crisis,” and “Resolution Trust Corp.” (“fixing” that mess) for “TARP” (“fixing” this mess). By 1991, 911 financial firms had failed, for an inflation-adjusted $547 billion. This time far fewer firms failed–for “merely” $421 billion.


  • These 6 Bargain Stocks Are Still in Play

    Over the last six months, I’ve written more than 40 articles for GuruFocus. In this business, you have to take the good with the bad, especially in the performance column. With that in mind, I’ve gone back over my articles and found these stocks are even better bargains now than they were at publication.

    I believe in dollar cost averaging, or in this case dollar down averaging, as long as the underlying company is fundamentally rock solid and its stock still has the same upside potential from my original price point.


  • Stakes Chris Davis Sold Out During the 3rd Quarter

    Davis Advisors Fund is an independent, employee-owned investment management firm founded in 1969. Chris Davis (Trades, Portfolio) is the portfolio manager of Davis Financial Fund, which has successfully managed money through many environments – including periods of inflation, recession, rising and falling energy prices, rising and falling interest rates and bull and bear markets. Following are its largest sales during the third quarter.

    Davis sold out shares of Corporate Office Properties Trust Inc. (OFC) for $22.59 per share. The deal had a -0.05% impact on Davis’ portfolio. Corporate Office Properties has had a long-term position in Davis' portfolio since 2010.


  • Chris Davis' Stocks Trading Below the Peter Lynch Value

    Chris Davis (Trades, Portfolio) is the portfolio manager of Davis Financial Fund, an independent, employee-owned investment management firm founded in 1969. Davis Advisors manages more than $60 billion across several different asset classes.

    Here are the stocks in his portfolio that are trading below the Peter Lynch value.


  • Home Depot Continues to Beat Wall Street's Expectations

    Shares of The Home Depot Inc. (NYSE:HD) are moving almost 4% following Thursday morning's session after the company reported better-than-expected earnings for Q3.

    The company reported earnings per share of $1.35, which are higher than the $1.15 per share obtained in the same quarter a year ago and are higher than estimates by 3 cents. Further, revenue increased by 6.4% and reached $21.8 billion in line with analyst’s estimates. Comparable store sales for the quarter were positive 5.1%, and comp sales for U.S. stores were positive 7.3%.


  • McDonald's Reports Strong 3rd Quarter

    McDonald's Corp. (NYSE:MCD) is a $103.7 billion market cap company and the largest fast-food restaurant chain in the world, with about 35,000 restaurants in 119 countries.

    Third quarter results


  • Whole Foods Is Still Strong in a Time of Skepticism and Negativity

    What business is Whole Foods Market (NASDAQ:WFM) in? Selling safe, healthy food.

    Who today doesn't want to eat organic? In today's world people are becoming conscious of what goes into their food. Whole Foods has some of the largest stores in the country; with more than 400 stores, Whole Foods is hard to miss if you are a disciple of natural and organic. In fact, Whole Foods is the eighth-largest food and drug store in the U.S.


  • Just How Good of a Buy Is Nike?

    Nike (NYSE:NKE) has taken a generic piece of apparel like the shoe and turned it into a brand name product.

    When you think Nike, you think shoes.


  • Walgreens Buys Rite Aid to Avoid Loose Market

    In May, Walgreens Boots Alliance Inc. (WBA)’s biggest competitor in the U.S., CVS Health Corp. (CVS), agreed to purchase nursing-home pharmacy Omnicare Inc. (OCR); a few weeks later, CVS signed a deal to acquire Target Corp. (TGT)’s pharmacies, expanding CVS Health’s retail presence in new markets, such as Seattle, Denver, Portland, Ore., and Salt Lake City by putting its brand, in retail locations across 47 states so WBA’s top rival in the U.S. has been getting bigger. This is why WBA’s next step is to acquire Rite Aid Corp. (RAD).

    Walgreens already has a foothold in the drug-distribution business after it signed a 10-year agreement with AmerisourceBergen Corp. (ABC) in 2013, and it became the company’s third-largest shareholder, but this agreement doesn’t stop the management's search for new profitable partnerships, and the reported fiscal fourth-quarter earnings shows how Walgreens Boots Alliance managed cost savings from mergers and it has saved $799 million in fiscal 2015 after combining with Alliance Boots GmbH last year.


  • Caxton Associates' Stocks Trading at Low P/E

    Bruce Stanley Kovner is the founder and chairman of Caxton Associates (Trades, Portfolio), L.L.C.

    According to GuruFocus the hedge fund manages a $2,681,000,000 portfolio composed of 140 stocks and the following are the ones trading with the highest margin of safety and with a very low P/E ratio.


  • Apple's New iPhone Has Massive Deal for Investors

    One of the prominent stocks most hedge fund managers like to keep in their portfolios is Apple (NASDAQ:AAPL). Among the hedge fund managers, Carl Icahn (Trades, Portfolio) is one of the largest holders of the stock. According to GuruFocus data, Apple makes up 21.21% of Carl Icahn (Trades, Portfolio)’s portfolio.

    Apple designs, manufactures and markets mobile communication and media devices, personal computers, watches and portable digital music players worldwide. It reported higher-than-estimated third-quarter earnings on Oct. 27. The stock has increased by 9.20% year to date and performed well as compared to Technology SPDR (ETF) [XLK]


  • Despite the Last Negative Quarter, IBM Is Expanding Its Business

    International Business Machines Corp. (IBM) creates business value for clients and solves business problems through integrated solutions that leverage information technology and knowledge of business processes. The company's operations consist of five business segments namely Global Technology Services and Global Business Services, which the company collectively calls Global Services, and Software, Systems and Technology and Global Financing.

    For IBM the third quarter was the 14th straight quarter of declining sales; despite falling sales, the company still plans to invest heavily in Cloud computing, data analytics and other areas where it sees growth and believes the aggressive investments of today would pay off in the future because, with the rise of Cloud computing, corporations are increasingly buying computing resources and software on demand instead of buying their own data center gear.


  • Coca-Cola’s New Growth Platforms Will Give Higher Organic Growth

    Coca-Cola (NYSE:KO), a beverage company with $186.14 billion market cap, is not only popular among hedge fund managers, but most of the investors like it, too.

    According to GuruFocus data, Coca-Cola makes up 14.34% of Warren Buffett’s portfolio. Coca Cola owns or licences and markets more than 500 nonalcoholic beverage brands, mainly sparkling beverages, but also a variety of still beverages such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees and energy and sports drinks. It owns and markets four of the world's top five nonalcoholic sparkling beverage brands – Coca-Cola, Diet Coke, Fanta and Sprite – and reported its third-quarter earnings on Oct. 21 with higher-than-estimated EPS in such a robust environment, but its revenue fell below the estimations of analysts.


  • Undervalued Stocks With Growing Earnings Among Dodge & Cox's Holdings

    Dodge & Cox was founded in 1930 by Van Duyn Dodge and E. Morris Cox and employs a team research approach in making investment decisions.

    The following are the most undervalued stocks on the hedge fund’s portfolio that during the last five years have shown a strong growth rate on earnings per share ratio (EPS).


  • Halliburton Misses Revenue Estimates

    Halliburton Co. (NYSE:HAL) is a provider of services and products to the energy industry related to the exploration, development and production of oil and natural gas. Shares of the company have tumbled more than 2.5% on Monday's trading even after reporting better-than-expected earnings for the third quarter of 2015.

    Q3 2015 results


  • Ken Fisher Reduces Stake in Toyota, Increases Position in Anheuser-Busch

    Initially Ken Fisher (Trades, Portfolio) majored in forestry in college, but he ended up getting a degree in economics. Instead of growing plants, he grew his investment firm into one of the wealthiest in the world.

    Fisher’s most significant third-quarter transactions involved stocks in an automobile company and a brewing company.


  • Investor, Forbes Columnist Ken Fisher to Join GuruFocus for Exclusive Q&A

    We’re pleased to announce Ken Fisher (Trades, Portfolio), CEO and Co-Chief Investment Officer of Fisher Investments, will be taking the time to answer a few questions from GuruFocus. Here’s your chance to ask Fisher your own investment questions. Simply email them to sheila[at]gurufocus[dot]com, and check back in a few weeks to read the interview.

    Fisher founded Fisher Investments in 1979, and today the firm serves over 27,000 individuals and more than 150 institutional clients. Its investment philosophy includes a focus on asset allocation, utilizing global diversification and holding a long-term view.  

  • Amazon Among Ken Fisher's Best Performing Stocks

    Ken Fisher (Trades, Portfolio) is CEO and Co-CIO of Fisher Investments. His investment philosophy is based on the idea that supply and demand of securities is the sole determinate of pricing. Furthermore, he believes that all widely known information has already been priced into the market. Thanks to this, he has about 200 stocks that are giving him a positive return year to date. The following are five with a market cap of at least $10 billion.

    He holds 2,490,542 shares of Inc. (AMZN) that has returned 83.90% year-to-date. The stake represents 0.53% of outstanding shares of the company and 2.17% of Fisher’s total assets.


  • GlaxoSmithKline Has a High (and Dangerous) Dividend Yield

    GlaxoSmithKline PLC (NYSE:GSK) is the world's second-largest pharmaceutical company. Formed in 2000 through the merger of British drugmakers GlaxoWellcome and SmithKline Beecham, the firm has managed to develop the next generation of treatments in the health care arena.



  • Ken Fisher for Forbes - Irrational Fears You Can Bank On

    Bank stocks have lagged lately. Folks fear ills from future U.S. rate hikes, an emerging markets currency cliff, continued regulatory overreach and more. But it’s simpler: It’s behavioralism. Our last crisis was ultra-bank-focused, god-awful–and investors usually keep fighting the last war.

    In the June 2015 issue of the Journal of Banking & Finance three researchers from Germany’s Technische Universität Dortmund demonstrated that irrational market fears lead investors to panic, sentiment that punishes bank stocks regardless of basics. To put it simply, folks freak out on banks easier than on most stocks nowadays.


  • Fossil, Gap Among Stocks Trading Below Peter Lynch Earnings Line

    Famed Fidelity Magellan fund manager Peter Lynch introduced an important method of valuing stocks in his bestselling book “One Up On Wall Street.”

    In the book, Lynch uses a chart to map the price and earnings per share, aligning $1 in earnings with $15 in stock price. The optimal time to purchase a stock is when price falls below the earnings line.


  • Ken Fisher Cuts His Stake in Royal Bank, Buys Roche Holding

    Ken Fisher (Trades, Portfolio) is the chief executive officer and chief investment officer of Fisher Investments, which offers an array of educational resources to its 27,000-plus private clients —including quarterly reports, in-person seminars and regular phone communication. Fisher Investments extends these educational resources to the public through a series of investing guides, online videos and daily commentary at

    Fisher manages a portfolio composed of 592 stocks with a total value of $49.932 billion and the following are the largest of about 500 trades he closed during the second quarter.


  • Fisher: Yellen Used to Look 'Ridiculous'

    "The fact is, if you take thing after thing after thing after thing that can be measured quantitatively, and run very long charts of them, going back to let's say 1989 and then overlay the 19 approximate 97-98 period with where we are now, you will see amazing correlations," Fisher said on CNBC this morning.


  • Five High-Yield Stocks With a Wide Margin of Safety

    If you are looking for stocks that pay high yields, the current market correction gave us some at a discounted price. GuruFocus' All-In-One Screener provides a selection of five that are worth putting on a watchlist.

    Great Northern Iron Ore (GNI) owns interests in fees, both mineral and nonmineral lands, on the Mesabi Iron Range in northeastern Minnesota. The company's properties span two counties (St. Louis and Itasca) in northeastern Minnesota, extend from Hoyt Lakes on the east end of the Mesabi Iron Range to Grand Rapids on the west end of the Mesabi Iron Range.


  • Benefiting From a Transition Company After Activist Investor Nelson Peltz's Big Bet

    General Electric Company (NYSE:GE), a $270.79 billion market cap company, sells products ranging from jet engines and gas turbines to consumer appliances, railroad locomotives and medical equipment.

    A $2.5 billion stake


  • Halvorsen Buys Amazon, Sells Out Micron Technology During Q2

    Andreas Halvorsen (Trades, Portfolio) is a founding partner of Viking Global Investors LP, which is a global investment firm founded in 1999 and has offices in Greenwich, N.Y., Hong Kong and London and is registered as an investment adviser with the U.S. Securities and Exchange Commission.

    He manages a portfolio composed of 56 stocks with a total value of $26.47 billion and during the last quarter he increased 20 stakes and reduced 19 of them, bought 18 new stocks and sold out 19 of his existing stakes. The following are the most weighted of the above trades.


  • Six High-Yield Companies With a Wide Margin of Safety

    Last month the bull market that began seven years ago began a correction; since then, the Standard & Poor's 500 dropped by about 12% as did the prices of some of the stocks that pay the highest yields to their shareholders.

    Thanks to GuruFocus' All-In-One Screener, the following is a selection of six of them that are worth putting on a watchlist.


  • Jim Simons and Ken Fisher Decrease Exposure on Novo Nordisk A/S

    Jim Simons (Trades, Portfolio)´ Renaissance Technologies disclosed an equity portfolio valued at some $43.89 billion at the end of the second quarter of 2015. The equity portfolio is mainly invested in Technology (19%), Health Care (15), Consumer Discretionary (13%) %) stocks

    In this article, we will look into the second top holding held at the end of Q2: Novo Nordisk A/S (NYSE:NVO).


  • Ken Fisher Is Increasing Exposure in Finance Stocks

    In this article, let's take a look at JPMorgan Chase & Co. (NYSE:JPM), the $229.95 billion market cap company which was recently upgraded.

    Analysts at Keefe Bruyette & Woods raised the bank's rating to Outperform from Market Perform. Further, it has raised the price target to $77. Yahoo! Finance estimates a one-year price at $74.68, a 20% upside potential.


  • Ken Fisher Still Bullish on Amazon

    Ken Fisher (Trades, Portfolio) increased his position in (NASDAQ:AMZN) by 2% to $1.08 billion or 2.49 million shares, according to the company's latest filing. Amazon is Fisher's tenth largest holding in his $51.4 billion portfolio. Fisher remains bullish on Amazon as evidenced by his increased position, Others including Andreas Halvorsen (Trades, Portfolio), Chase Coleman (Trades, Portfolio) and Robert Karr (Trades, Portfolio) also increased their stakes.

    The company has strong growth potential, especially considering its active users growth at more than 20% compound annual growth rate in the past five years. Further, the growth is seen in total physical and digital units sold, as well as third-party units sold. The firm is constantly gaining market share with physical stores. Moreover, Amazon is capable of charging lower prices than rivals to offset competition.


  • This Correction Is a Lot Like 1997 – Ken Fisher

    Ken Fisher (Trades, Portfolio) thinks it is virtually impossible to time a correction.

    While history doesn't repeat itself, it often rhymes, and Fisher thinks the current correction is much like the 1997 correction.

    Since we are already well into this correction, chances are it will likely be over as fast as it started.

    Fisher then goes on to compare the current correction with the Asian Contagion of 1997/1998.


  • Undervalued Stocks Among Mario Gabelli's Recent Buys

    Mario Gabelli (Trades, Portfolio) is the founder, chairman and CEO of Gabelli Asset Management Company Investors (GAMCO Investors) and at the end of the last quarter, his portfolio was composed of 834 stocks with a total value of $18.5 billion.

    According to GuruFocus' All-In-One screener, the following are the companies he recently bought with a wide margin of safety.


  • Why Ken Fisher Is Buying Black Rock Inc.

    During the last quarter, investor Ken Fisher (Trades, Portfolio) with his Fisher Asset Management’s fund, increased by 147.95% his stake in Black Rock Inc. (BLK), and now he holds 87,758 shares and is the third main holder of the company.

    The company


  • Madison Street Partners Buys Citigroup and Morgan Stanley

    Madison Street Partners LLC is a hedge fund based in Colorado founded by Steven Owsley in 2004. Its portfolio reported a total value of its portfolio of $74 million, with a decrease of 24% since the previous quarter. During 2015, Q2, it bought 20 new stocks and increased four of its existing stakes. The following are the most heavily weighted buys during the quarter.


  • JPMorgan Chase: A Solid Bet at the Moment

    JPMorgan Chase & Co. (NYSE:JPM) is a $238.04 billion market cap company, in which Stanley Druckenmiller (Trades, Portfolio), Ken Heebner (Trades, Portfolio) and Tom Gayner (Trades, Portfolio) have initiated new positions. In the second quarter, they bought 777,300, 570,000 and 85,000 new shares, respectively.

    Estimated Return


  • Valeant Pharmaceuticals' New Female Drug

    Valeant Pharmaceuticals (NYSE:VRX) has confirmed that it will pay $1.0 billion to buy Sprout Pharmaceuticals, the closely held company that has just won U.S. approval to sell the first drug that aims to increase women 's libido. Under the terms of the agreement, which echoes The Wall Street Journal, Valeant will pay $ 500 million in cash upfront and pay the other party early next year, whose pink pills, known as “female Viagra,” will be sold under the name Addyi. The deal is scheduled to close in the third quarter.

    Other acquisitions


  • Strong Dollar Impacted Harley-Davidson's Performance

    In this article, let's take a look at Harley-Davidson, Inc. (NYSE:HOG), a $12.06 billion market cap company, which is a leading maker of heavyweight motorcycles, and also produces a line of motorcycle parts and accessories.

    Reduction in revenue


  • Cablevision Surpasses Estimates and Delivers Attractive Return

    In this article, let's take a look at Cablevision Systems Corporation (NYSE:CVC), a $7.78 billion market cap company, which is one of the largest U.S. cable multiple system operator, it offers Optimum brand cable, Internet and voice services to about 3 million subscribers in the New York tri-state area.

    The company reported higher-than-expected results in the second quarter of 2015. Net income from continuing operations was $75.6 million or $0.27 per share compared with $94.2 million or $0.34 per share in the year ago quarter. EPS outpaced analyst´s estimates of $0.24. Total revenue was at $1,653.4 million beating analyst´s estimates of $1,648 million and up 1.6% year over year. By segments, the cable segment’s revenues were $1,481.1 million, up 1.8% year over year and were divided like this:


  • One Capital Management Cuts Stake in General Electric

    At the end of the second quarter of 2015, the hedge fund One Capital Management reported a total value of its portfolio of $348,999,000 with an increase of 4.90% over the previous quarter.

    During Q2 2015, the hedge-fund sold out 12 stocks and reduced 31 stakes, and the following are the most heavily weighted sales.


  • Hedge Fund Billionaire Bill Ackman's Move on Global Snack Food Company

    Mondelez International, Inc. (NASDAQ:MDLZ) jumped more than 7% in premarket trading after activist investor Bill Ackman (Trades, Portfolio) said he would pay approximately $5.5 billion for a 7.5% stake in the maker of Oreo cookies and Ritz crackers, buying about 120.3 million shares.

    The $74.59 billion market cap company also has another activist as a major shareholder: Nelson Peltz´s Trian Partners held 48.02 million shares valued at $1.73 billion at the end of March.


  • AIG Would Yield 1.8% if the Share Price Stays at Current Levels

    American International Group (NYSE:AIG) more than doubled its quarterly dividend to $0.28 from $0.125 a share. This way, the stock would yield 1.8% if the share price stays at current levels, 100 basis points higher than the actual level. The dividend is payable on September 28 to stockholders of record at the close of business on September 14.

    Further, the company also announced it will buy back up to $5 billion more of its common stock. Year to date, the giant insurer bought $4.7 billion of stock. AIG is funding these politics from asset sales, the company has divested in non-core assets. Moreover, the company beats Q2 EPS ($1.32 vs. $1.23 estimates) and achieved higher revenues ($15.7 billion vs. $14.48 billion), but shares were trading lower by 3% on yesterday´s trading session.


  • Mondelez's EPS Decline on Sluggish Sales

    In this article, let's take a look at Mondelez International, Inc. (NASDAQ:MDLZ), a $73.48 billion market cap company, which is a global snack food company.

    Louis Moore Bacon (Trades, Portfolio) is an American hedge fund manager and trader who focuses on a global macro strategy to invest in the markets. This strategy focuses on indices, currencies, commodities and other asset classes based on expectations about specific markets and asset classes. They had their second consecutive month of net inflows in May. Although funds for $1.6 billion were added during the month, it was not enough to bring the flows to positive territory considering the entire year.


  • Warren Buffett's Bullish Stake in Costco

    In this article, let's take a look at Costco Wholesale Corporation (NASDAQ:COST), a $63.95 billion market cap company, which operates about 679 membership warehouses in the U.S., and other countries such as Puerto Rico, Canada, the U.K., Taiwan, Japan, Korea, Mexico and Australia.

    Expanding its business


  • Ken Fisher Continues To Increase Stake In ICICI Bank

    ICICI Bank (NYSE:IBN), which is India’s largest private sector bank, has witnessed strong buying interest from Ken Fisher (Trades, Portfolio). According to Fisher’s latest filing on June 20, 2015, the legendary investor’s holds 10,255,919 shares of ICICI Bank, representing a 27.9% increase in holding as compared to the last filing in March 2015. Investors can track these Guru stock actions in Real Time Alerts by Guru Focus.

    In this article, I will discuss the reasons for my bullish view on ICICI Bank for the long term. I believe that ICICI Bank is one of the best investment options in the banking sector at this point in time. However, the investment horizon needs to be for 3-5 years if investors are looking for stellar returns.


  • Ken Fisher for Forbes - Five Ways to Win From Money Losers

    “Always” is always a dangerous word in investing, but here’s a good time to use it: Always own some stocks of profitless good firms. Some are turnarounds. Others fund growth through legally deductible futuristic expenses that mask profitability while avoiding taxes. Both needlessly confuse and scare off most investors, who are guided solely, mostly or too much by earnings.

    As a result, these underappreciated firms get bid up as they otherwise progress in the real-world marketplace. When I had nothing and had nothing to lose, these were the only kind I bought. While you don’t want profitless bad companies, of course, the profitless good firm is a beautiful thing to behold.


  • Merck Reports Strong Second Quarter 2015 Earnings with Improved Outlook for the Full Year

    Merck (NYSE:MRK) released its second quarter 2015 earnings on July 28. The health care company reported revenue of $9.79 billion with adjusted net income of $2.44 billion resulting in earnings per share of $0.86. Earnings per share beat analysts’ consensus estimate by $0.05; however, revenue fell just below expectations, missing analysts’ average estimate by $10 million.

    In comparison to the second quarter of 2014, revenue was down 11% from $10.93 billion and net income was also slightly lower, down 2% from $2.49 billion. Earnings per share increased from the second quarter of 2014 up 1% from $0.85.


  • Paul Singer Reduces His Position in Juniper

    Paul Singer (Trades, Portfolio) of Elliott Management recently reduced his position in Juniper Networks, Inc. (NYSE:JNPR). Singer is the founder of Elliott Management which currently manages approximately $6.8 billion in equity assets.

    On July 24 Singer sold 27,519,345 shares of Juniper from his portfolio reducing his stake to 11,721,655 shares or 4.72% of his portfolio. After the sell his weighting in technology was reduced to 26.41% with his largest technology holding in EMC Corporation (NYSE:EMC).


  • Pfizer Increases Annual Earnings Guidance for 2015

    Pfizer, Inc. (NYSE:PFE) reported its second-quarter 2015 earnings on July 28. For the quarter, revenue was $11.85 billion versus analysts’ average estimate of $11.42 billion. Earnings per share of $0.56 also beat analysts’ earnings per share consensus estimate by $0.04. Overall, earnings for the quarter lagged slightly from the second quarter of 2014 with total revenue down 7% from the comparable quarter and earnings per share down 3.5%. However, an improved outlook for the second half of 2015 led management to increase its annual revenue and earnings per share guidance for the year.

    The downturn in total revenue for the second quarter was primarily attributed to sales from the firm’s Established Products business segment which fell 22% from the comparable quarter to $5.09 billion. The firm operates within two business segments which include Established Products and Innovative Products. In Innovative Products Pfizer grew operational revenue by 17% for a total increase of 8%. Revenue in Innovative Products totaled $6.63 billion of which the majority was generated from the firm’s Global Innovative Pharma division which accounted for 53% of revenue at $3.50 billion. Sales growth in Innovative Products for the quarter was driven by Global Vaccines and Global Oncology which increased revenue by 44% and 25%, respectively.


  • Aerospace And Defense's Stocks With Lowest P/E

    Recently, GuruFocus introduced a new page that summarizes each industry’s ratios. According to that page, the Aerospace and Defense industry has a median P/E of 20.90 and the following are the biggest companies (based on market cap) that are trading with the lowest P/E ratio.

    United Technologies Corp (UTX)


  • Yelp Shares Tumbling After Q2 Performance

    Ken Griffin´s Citaldel Investment Group upped by 432% his position in Yelp Inc. (NYSE:YELP) to $32.8 million, according to the fund's latest filing. Further, Ken Fisher (Trades, Portfolio) has taken a long position in the stock, initiating a new position with 106,900 shares.

    Despite this bullish sentiment, Yelp shares dipped 23% to $25.80 in pre-hours trading after the company beat Q2 revenue estimates but missed on EPS and lowered its revenue guidance for the year, citing slower sales headcount growth and the elimination of its brand-advertising product.


  • Ken Fisher's Top Buys in Q2 2015

    Ken Fisher (Trades, Portfolio) is the chief executive officer and chief investment officer of Fisher Investments and his portfolio has a total value of $49,932 million. The following are his most heavily weighted trades during the second quarter of 2015 :

    He increased his stake in Roche Holding AG (RHHBY) by 409.71% with an impact of 0.80% on his portfolio. The company is a pharmaceutical and diagnostic company. It researches and produces medicines in oncology, infectious diseases, immunology and neuroscience. It has more than 66 new molecular entities in its pipeline.


  • Ken Fisher's most weighted buys in Q2 2015

    Ken Fisher (Trades, Portfolio) is the chief executive officer and chief investment officer of Fisher Investments and at the end of Q2, his portfolio had a total value of $49,932 million. During the Q2 he increased his stake in 281 stocks and started positions in 62 new holdings.

    The following are the most weighted buys/increases :


  • Reasons for a Bullish Outlook on FedEx

    FedEx Corporation (NYSE:FDX) is a leader in global express delivery services, which provides guaranteed domestic and international air express, residential and business ground package delivery, heavy freight and logistics services.

    Mason Hawkins' Southeastern Asset Management has a big position on the stock. The stake contains 5.4 million shares valued at $897.5 million as of March 2015, and represents 5.63% of his portfolio. 


  • KLA Tencor Is a Dividend Growth Stock

    In this article, let's take a look at KLA Tencor Corp.(NASDAQ:KLAC), a $8.29 billion market cap company, which is the world's leading manufacturer of yield monitoring and process control systems for the semiconductor industry.

    Key Aspects


  • Ken Fisher Sells Stake In Outerwall Inc.

    Ken Fisher (Trades, Portfolio) is the Chief Executive Officer and Chief Investment Officer of Fisher Investments. He designed the firm with one vision in mind: putting clients at the forefront and building an investment management firm to support long-term investment objectives.

    Last quarter, Fisher Investments sold out its stake in Outerwall Inc (OUTR) that is a provider of automated retail solutions offering convenient products and services that benefit consumers and drive incremental retail traffic and revenue for retailers. The Company's automated retail includes its Redbox segment where consumers can rent or purchase movies from self-service kiosks, and its Coin segment where consumers can convert their coin to cash or stored value products at coin-counting self-service kiosks.


  • Ken Fisher Substantially Increases Stake In Infosys

    Ken Fisher (Trades, Portfolio) of Fisher Asset Management has substantially increased stake in Infosys (NYSE:INFY) according to the latest regulatory filing and the Real Time Update available from GuruFocus. Fisher has increased his stake by 139.2% to 21,667,231 shares at an average price of $16.26.

    I also have a bullish view on Infosys and this article discusses the reasons to be optimistic on the company. Infosys will be declaring its 1Q15 results on July 21, 2015 and I believe that investors can also look for some near-term exposure in today’s trade.


  • Investor, Forbes Columnist Ken Fisher Takes Stake in Alibaba

    During the second quarter, Forbes columnist and founder of Fisher Asset Management, Ken Fisher (Trades, Portfolio), purchased 57 new holdings, according to data reported by GuruFocus Real Time Picks.

    The majority of Fisher’s portfolio at the multi-billion dollar money management firm is held in the financial services sector at 22.5%, followed by 16.2 each in technology and healthcare stocks.  

  • Dril-Quip Is Trading At Attractive Valuations

    Dril-Quip (NYSE:DRQ), which manufactures, sells and services engineered offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications, is trading at attractive valuations and can be considered at current levels for long-term exposure. This article discusses the rationale behind this view and the valuation perspective.

    I must mention at the onset that Ken Fisher (Trades, Portfolio) of Fisher Asset Management is holding 386,816 shares of the company and Joel Greenblatt (Trades, Portfolio) of Gotham Asset Management is holding 155,288 shares. Therefore, the stock has generated interest from Gurus and considering the attractive valuations, which I will discuss in the article, the stock can generate further interest from hedge fund managers. Investors can track real time fund activity in Guru Focus Real Time Picks.


  • What to Expect From Today's Bank of America's Earnings?

    Bank of America Corporation (NYSE:BAC) is going to report second quarter earnings today, and I think it is a good moment to discuss if this stock represents an appealing investment. We are going to answer the question, but first, let´s take a look at the hedge fund´s positions.

    The largest shareholder of the bank at the end of the first quarter was Bruce Berkowitz (Trades, Portfolio)´s Fairholme Capital Management, with 76.75 million shares and the stake representing 22.1% of his 5.3 billion portfolio. In second and third place we found Ken Fisher (Trades, Portfolio) and Richard Pzena (Trades, Portfolio), with 42.0 and 30.9 million shares, respectively.


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