Being known as The Other Oracle of Omaha
is a good thing. Wallace “Wally” Weitz of Wallace R. Weitz & Co., is based in Omaha, Neb. His updated portfolio includes 60 stocks, one of them new, a total value of $2.65 billion, with a quarter-over-quarter turnover of 5%. The Weitz portfolio is weighted with top sectors: consumer cyclical at 17.5%, financial services at 15.6%, technology at 13.3% and health care at 13%. The stocks bought by Weitz are averaging a 12-month return of 28.02%. In 2012, he returned 19.72%. His 25-year cumulative return is 11.6% annually.
Weitz's approach to value investing combines Ben Graham's price sensitivity and insistence on a margin of safety. Guru Weitz shares the conviction that qualitative factors that allow a company to have some control over its destiny, such as historical book value or reported earnings, can be more important than statistical measurements. Continue Reading »