Richard Blum

Richard Blum

Last Update: 2014-11-14

Number of Stocks: 4
Number of New Stocks: 0

Total Value: $415 Mil
Q/Q Turnover: 0%

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

Richard Blum Watch

  • Among Best Stock Pickers - Richard Blum’s Top Four

    One of the best stock pickers ever, Richard Blum, co-founder, CEO, president and chairman of Blum Capital Partners, had 12-month returns of 40.33% in 2012, securing him a place in investor heaven. An extraordinary capitalist with a large real estate sector of 57.7%, Blum lists only 10 stocks in his portfolio, none of them new, and a total value of $658 million with a quarter-over-quarter turnover of 0%, as of June 25, 2013.

    Here’s an update on the value-oriented investor’s top four holdings.  

  • Career Education Corp's Richard Blum Unloads CECO Shares Down 70%

    Investor Guru Richard Blum, Blum Capital Partners, reduced his Career Education Corporation (CECO) stake again by 4.47% as of April 8, 2013. After six reductions this year, he now has 10,473,021 shares after the recent trade. According to GuruFocus research, a review of Blum’s CECO quarterly buying and selling over five years shows only losses — high double-digit losses. In looking at this stock’s performance, you may ask investors, what year did you lose the least?

    As of Dec. 31, 2012, Blum had bought 5,799,470 shares at an average price of $17.91 per share, with an 88% loss. For shares sold, same quarter ending, Blum sold 4,165,620 shares at an average price of $11.51 per share, for an 81% loss. Blum is listed as 10% owner of Career Education Corporation.  

  • Richard Blum Unloads 1.5M CECO Shares--March Madness or Sanity

    In the last few years, Career Education Corp. (CECO) has been hit hard by investigations, regulatory changes, and lawsuits. As the CECO stock price continues to decline from a February high of $5.04 to the current price of $2.60, investor Guru Richard Blum, Blum Capital Partners, reduced his CECO stake again by 0.23% on March 18, 2013. This is the fifth time Blum has reduced his position this month, unloading 1,525,794 shares since March 4, 2013, when he began making a string of reductions. After his latest CECO trade, Richard Blum holds current shares of 10,963,417. CECO’s current price is $2.60, with a 0% change from average.

    Here's the CECO holding history of Investor Guru Richard Blum who achieved among the highest average return over 12 months in 2012, at 55.2%, according to the GuruFocus Score Board of Gurus.  

  • Richard Blum Cuts CECO Third Time

    For the third time this month, Richard Blum, of San Francisco-based Blum Capital Partners, reduced his stake in Career Education Corporation’s (CECO) by 1.79% on March 11, 2013. He had reduced his CECO shares by 6.44% on March 4, 2013, then again by 10.41% on March 7. After his latest trade, Blum holds current shares of 10,989,211. CECO’s current price is $2.60, with a change from average down 2%. Amidst a swarm of litigation, investigations and inquiries, CECO stakes have been dropped or significantly reduced by a number of other investor Gurus starting last fall, including Jeff Auxier, Joel Greenblatt, Chuck Royce, Paul Tudor Jones and Steven Cohen.

    See a detailed analysis of CECO.  

  • Richard Blum Reduces - Will CECO Make the Grade?

    With Career Education Corporation (CECO)'s mounting liabilities and a swarm of legal problems, investor Gurus are jumping ship or reducing positions to avoid a repeat of CECO’s fall of 40% back in November 2011. At that time, hedge funds lost millions and Richard Blum, of San Francisco-based Blum Capital Partners, lost $101.9 million betting on this career-oriented education company.

    Earlier this week Richard Blum reduced his CECO position by 6.44% on March 4, 2013, and yesterday, he reduced shares again by 10.41%, bringing his current shares to 11,189,211. CECO’s current price is $2.65, a 4% change from average, and a 43% discount to its net cash position. However, according to a recent GuruFocus feature on CECO, “The company's substantial cash holdings, however, suggest the upside to such an investment is higher than the downside is low.” Read the full article:   

  • Blum Wipes Out His PRGX Stake

    Investing Guru Richard Blum of Blum Capital Partners reported to eliminating 99.89 percent of his stake last week of audit services provider, PRGX Global Inc. (PRGX), according to GuruFocus Real Time Picks. The transaction left Blum with a current holding of 3,120 shares, compared to his 2.7 million shares in the end of the third quarter. Blum was the largest shareholder at the time, owning about 11 percent of the company.

    Starting in 2009, Blum started making bold reductions to his PRGX stake. Around that time, the stock was trading about $3. It eventually climbed to its highest last September, around $8, as Blum continuously reduced the following years after his first reduction in the first quarter of 2009.  

  • How Richard Blum Had the Best-Performing Picks on GuruFocus in the Past Year

    Richard Blum’s stock picks of the last year are an unsung success of 2012’s challenging investing environment. Though official return numbers have not appeared yet, Blum’s positioning achieved the highest average return numbers in the last 12 months, at 40.33 percent, according to GuruFocus’ Score Board of Gurus.

    Blum’s firm, San Francisco-based Blum Capital Partners, was founded in 1975 and manages approximately $1.6 billion. Blum’s strategy is to identify attractive businesses and invest in them through the most effective means. Often, the firm will take large positions in good, small- and mid-cap undervalued companies and increase value through actively engaging with management teams. He only considers companies with a 10% cash-on-cash yield and projected 10% free cash flow growth rate. As a value investor, the typical holding period for a stock is three to five years.  

  • Blum Reduces AVID and PRGX Stakes by Average 9.4%

    Today, Blum Capital Partners’ Richard Blum sells 7.9% of his shares of PRGX Global Inc. (PRGX), and 11.01% of his shares of Avid Technology Inc. (AVID). This represents more than 230,000 PRGX shares sold at $8.56 per share, and almost 900,000 AVID shares sold at $9.48 per share, according to GuruFocus Real Time Picks.

    Average stock prices for both companies have gone up since the end of the second quarter. PRGX added about $1.79 to its price per share, and AVID similarly increased its price per share by about $1.59. Both companies have undergone declining revenue growth percentages in the last five years; PRGX is down by 22.2%, while AVID is down by 6.1%.  

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