Guru James Barrow (Trades, Portfolio) is executive director for Dallas’ Barrow, Hanley, Mewhinney & Strauss and lead portfolio manager for Vanguard Windsor II and Selected Value Funds, which registered returns exceeding 42% in 2013. His third-quarter transactions tend to reflect Barrow, Hanley, Mewhinney & Strauss’ definition of value: Below-market price-to-earnings ratios, below-market price-to-book ratios and above-market dividend yields, regardless of market conditions.
Barrow’s most noteworthy third-quarter transaction was his purchase of a 12,751,758-share stake in United Technologies Corp. (NYSE:UTX), a Hartford, Conn.-based conglomerate, for an average price of $97.82 per share. The deal had a 1.74% impact on Barrow’s portfolio. Continue Reading »