Ken Heebner

Ken Heebner

Last Update: 2015-02-13

Number of Stocks: 59
Number of New Stocks: 22

Total Value: $3,631 Mil
Q/Q Turnover: 29%

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

Ken Heebner Watch

  • 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' (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. (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 (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 (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 (MT): Down 22% since Jim Simons (Trades, Portfolio) bought in the quarter ended on 2014-06-30

      


  • Alcoa Reported Significant EPS Improvement

    Alcoa Inc. (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. (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. (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. (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 (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 (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. (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 (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. (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

      


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