Robert Olstein

Robert Olstein

Last Update: 2014-02-11

Number of Stocks: 125
Number of New Stocks: 10

Total Value: $698 Mil
Q/Q Turnover: 11%

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

Robert Olstein Watch

  • Guru Robert Olstein's Top Five Fourth Quarter Stocks

    Robert Olstein is the chairman and chief investment officer of the Olstein Financial Fund. Olstein selects stocks by looking behind the numbers. He emphasizes a detailed look behind the numbers of a company's financial statement to assess the company's financial strength and assess potential downside risk. To be considered for his selection, a company must generate more cash flow than necessary to sustain the business, avoid aggressive accounting practices, demonstrate balance sheet fundamentals that are consistent with his defense first approach and be selling at a discount to the private market value.


    Over the past quarter Olstein purchased 10 new stocks bringing his total to 125 stocks valued at $698 million. The following five companies represent Olstein’s top five stock holdings.

      


  • Olstein Top 3 Buys Last Quarter

    Robert Olstein (Trades, Portfolio) is the chairman and chief investment officer of the Olstein Financial Alert Fund (OFALX). He is considered to be an expert in corporate financial disclosure and reporting practices.


    A description of their investment philosophy can be found here.

      


  • Weekly 3-Year Lows Highlight: FWM, FST, LAND, RDNT

    According to GuruFocus list of 3-year lows; Fairway Group Holdings Corp, Forest Oil Corp, Gladstone Land Corp, and RadNet Inc. have all reached their 3-year lows.


    Fairway Group Holdings Corp (FWM) Reached the 3-year Low of $14.49

      


  • Bob Olstein on the Economy, Amazon, Internet Stocks



  • Value Investor Robert Olstein - Don't Chase Fad Stocks

    Robert Olstein says the music has changed but the dance is the same.

    He is talking about the valuations of tech companies/social media stocks and he believes that we are again in a situation that is going to end badly for investors.  


  • Robert Olstein Decreases 37 Companies - MSFT, CSCO, HAR, THO

    The changes in the third quarter portfolio of the Olstein All-Cap Value Fund, managed by Guru Robert Olstein, include 37 reductions and sells combined, including high-impact decreases of his positions in Microsoft Corporation (MSFT), Thor Industries Inc. (THO), Cisco Systems Inc. (CSCO) and Harman International Industries Inc. (HAR).

    Robert Olstein updated portfolio lists 123 stocks, 8 of them new, and a total value at $652 million. The quarter-over-quarter turnover is 10%. Olstein’s portfolio is weighted with consumer cyclical at 22.7%, industrials at 22.7 and technology at 17.4%. He is averaging a return of 20.13% over 12 months.  


  • KSS and Tell – 16 Gurus Hold Kohl’s as Cold Weather Increases Sales

    Kohl’s Corp. (KSS) resides in the consumer cyclical sector that is home to companies engaged in retail operations and services, as well as the production of automobiles, homebuilding, household goods, textiles and apparel, to name a few.

    According to a sector review last week, Schwab boosted its rating on the consumer discretionary sector “to outperform from marketperform.” This year Schwab has been optimistic about consumers, commenting in the review: “Despite some much-understood handwringing over the state of the consumer, the labor market continues to improve, confidence among consumers appears to be rising, and housing has been steadily adding to many Americans' net worth over the past couple of years. And with what we believe continues to be some pent-up demand in the pipeline, the possibility of consumer discretionary stocks outperforming is very real. Additionally, on the company side of the ledger, we continue to see businesses aggressively manage their costs, while also seeming to better control their inventory in an attempt to maximize their profits. Finally, we believe the recent rise in oil prices largely due to Middle Eastern concerns will be short lived, and that the pullback we see coming will provide a further tailwind to consumers.”  


  • Robert Olstein's Top Second Quarter Portfolio Increases

    Robert Olstein is the chairman and chief investment officer of the Olstein Financial Fund. Olstein selects stocks by looking behind the numbers. He emphasizes a detailed look behind the numbers of a company's financial statement to assess the company's financial strength and assess potential downside risk. To be considered for his selection, a company must generate more cash flow than necessary to sustain the business, avoid aggressive accounting practices, demonstrate balance sheet fundamentals that are consistent with his defense first approach and be selling at a discount to the private market value.

      


  • Robert Olstein: A Little Closer Look

    Consider downside risk when purchasing a security before considering upside potential.” — Robert A. Olstein

    Last week, I wrote an article about Robert Olstein, the famed value investor, and his predilection for studying the shareholder letters of CEOs in their quarterly and annual reports, looking for “heat” or “trigger” items. Those items, according to Olstein, may provide either a warning for an upcoming disaster not previously noticed or a potential catalyst for unleashing cash flows even higher. This prompted me to dig further into his methodology for choosing stocks and had me reading from several sources, including those from his own website.  


  • Shareholder Letters a Worthy Read?

    Most investors are familiar with Warren Buffett’s penchant for reading annual reports regularly, but it is incumbent upon all good value investors (or investors of any stripe) to acquire a taste for reading these reports in order to obtain a more accurate or clearer picture of the equity being studied. While we attribute this habit to Buffett, all good investors should find themselves scouring the pages looking for the little details that define a “yes” or a “no” when it comes to choosing an investment.

    Robert Olstein of Olstein Capital is no different and has built a successful career as a value investor by attempting to separate the winners from the losers with his Quality of Earnings Reports. Olstein is known for looking closely at the financials or looking “behind the numbers,” watchful for aggressive accounting techniques, essentially scouring all of the SEC filings with a skeptical eye as he completes a thorough forensic analysis.  


  • Robert Olstein’s Largest New Stock Picks

    Robert Olstein, manager of the Olstein Funds, bought eight new stocks in the fourth quarter for his Olstein All-Cap Value Fund, the largest positions of which are: Ross Stores (ROST), Charles River Laboratories International (CRL) and Vishay Intertechnology (VSH).

    Olstein’s investing philosophy prioritizes downside risk avoidance, and also focuses on companies with temporary problems creating a disjoint between their market price and business value, excess cash flow, and strategy success, quality earnings and sustainable performance brought to light through “forensic analysis of financial statements.”  


  • Robert Olstein: There Is Still Much Value in the Market

    Well-known value investor Robert Olstein of Olstein Funds was on Bloomberg to discuss the U.S. Stock market after the recent run up and where he is still finding value. He lines out the factors he is looking at while zeroing on his select investments.

    -- Even after the recent run up there is still lot of value he is coming across.  


  • Value Investor Robert Olstein: Stocks Are Still Cheap

    Well-known value investor Robert Olstein was on CNBC to discuss his outlook for the stock market and thinks that the stock market will move much higher over the next 12 to 18 months.

    -- Stocks are still very cheap with cash flow yields being still at 10%  


  • Value Investor Robert Olstein: Market Is Overreacting and His Top Picks

    Well-known value investor Bob Olstein, chairman and CEO of Olstein Capital Management, was on CNBC to discuss his views on the stock market, Amazon (AMZN) and why it is going down, and other attractive opportunities in the market. He said markets overreacted in 2009 and are overreacting now too.

    Here are the key things he said:  


  • Stocks that are cheaper than Robert Olstein bought

    Robert A. Olstein is Chairman and Chief Investment Officer of Olstein Capital Management and is Head Portfolio Manager of the Olstein All Cap Value Fund and Co-Portfolio Manager of the Olstein Strategic Opportunities Fund. He is a well recognized research analyst and money manager.

    Olstein has held many positions in several firms which involved the managing of assets and individual and institutional accounts. He worked at Smith Barney. The financial community has long been following Olstein for his approaches when doing business.  


  • Great Holdings of Robert Olstein

    Robert A. Olstein is the chairman and chief investment officer of the Olstein Financial Alert Fund. He is an expert in corporate financial disclosure and reporting practices. He co-founded the "Quality of Earnings Report" service to introduce the concept of inferential financial screening techniques to analyze balance sheets and income statements and be able to alert portfolio managers about factors affecting the company's earnings and value of the stock.

    Mr. Olstein's investment strategy is based on analyzing the company's financial strength and potential downside risk rather than looking at the numbers of the financial statement. He considers that the Fund´s objectives are better met by minimizing investment errors. This is his “defense first” approach. According to the approach, he does not turn to companies with the highest appreciation potential without regard for downside risk. Olstein tries to invest in companies that generate more cash flow than what is necessary to support the business, hold strong balance sheet fundamentals consistent with his approach and are trading below private market value. Robert Olstein sells a stock when the stock appreciates to his appraised value.  


  • Robert Olstein: What You Can Learn From Shareholder Letters?

    This is an article about Robert Olstein, manager at the Olstein Funds. Mr. Olstein has an accounting background. He tries to discuss how to read shareholder letters and financial reports.

    • A thorough review of shareholder letters provides a way to judge the effectiveness of management’s decisions and overall performance.  


  • A Wealth of Choices for a Value Investor

    IS the stock market making you queasy? Even with the market’s September surge, the losses, stress, and turmoil of the last lost decade provide plenty of reasons to stay on the sidelines.  


  • Robert Olstein Buys Baxter International Inc., Apple Inc., The Timken Company, Sells Dell Inc., The Gap Inc., Hillenbrand Inc

    Robert Olstein of the Olstein Finacial Alert Fund reported his Q2 portfolio. These are the details of buys and sells.

    Olstein tries to assess the quality of company earnings instead of just looking at the numbers. His CPA background certainly helps him. His fund did well in the first half of 2000s, but lagged in the second half.  


  • Robert Olstein Comments on: Macy's Inc., The Home Depot Inc., Union Pacific Corp. , Carnival Corp., Halliburton Company

    In bankruptcy situations, liquidity value plays more of a role in valuation. In business as usual situations, the on-going concern valuation dominates the intrinsic value of a firm. As far as Investment Guru Robert Olstein is concerned, discount of future free cash flow is all that matters when it comes to determine how much one should pay for a company. This is the topic of a New Yortks article by Gretchen Morgenson entitled “[urkl=http://www.parsintl.com/20118.pdf]Why All Earnings Are not Equal[/url]”.

    A company’s reported earning is not equal to free cash flow. The distinguishing is very important, stated the NYT article:
    Earnings are what investors focus on, but because these figures include noncash items, based on management estimates, the bottom line may not tell the whole story.  


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