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Steven Romick on WealthTrack
Posted by: GuruFocus (IP Logged)
Date: October 20, 2012 08:12AM
Steven Romick on WealthTrack: On this week’s Consuelo Mack WealthTrack, a rare interview with Great Investor, Steven Romick of FPA Crescent Fund. Romick describes how he is keeping his five-star rated fund on top by balancing the forces of inflation and deflation and continuing his contrarian, value-oriented strategies.
FPA Crescent Fund; 10-year averaged 9.85%.
At this point of time, best business with high quality.
Walmart (WMT): Bought in summer of 2011, and gain 50%. Viewed as bond with rising coupon.
AIG: book value at $60. Stocks at $40. It has three business.
Short VOLVO and Nissan, long Renault.
Omnicare (OCR): technology inprovement
Also read the interview GuruFocus had with Steven Romick
Guru Discussed: Steven Romick: Current Portfolio, Stock Picks
Stocks Discussed: WMT, AIG, OCR,