With $16 billion under management, John Rogers does not have an email address. He said: “I don't even have a computer in my office. If I had e-mail, I'd never take the time to read research or absorb information.”
It seems that things work very well for John Rogers, the head of Ariel Capital Management. In the past decade his fund has earned nearly 14 percent a year, beating the market by more than five percentage points annually. He typically holds a stock for four or five years, an eternity compared with the 14-month holding period of the average mutual fund.
According to the website of Ariel Capital Management, Rogers likes The Interpublic Group of Companies, Inc. (IPG, Financial), UBS AG (UBS, Financial). A.G. Edwards, Inc. ( AGE).
The Interpublic Group of Companies, Inc. (IPG)
The Interpublic Group of Companies, Inc., together with its subsidiaries, provides advertising and marketing services. The company operates in two segments, Integrated Agency Network and Constituency Management Group. The Interpublic Group of Companies Inc. has a market cap of $5.05 billion, its shares were traded at around $10.56 with with P/E ratio of 102.98 and P/S ratio of 0.78.
According to Ariel Funds, IPG has the competitive advantages of global reach and scale. “With over 43,000 creative personnel working in 130 countries, Interpublic can meet virtually all of a client’s marketing and advertising needs anywhere they do business. As a result, Interpublic has attracted world-class firms like General Motors, Johnson & Johnson and Microsoft. Additionally, loyalty is a hallmark of Interpublic’s client relationships, creating enviable recurring revenue streams and the opportunity to sell customers additional products and services to enhance their brands.”
Apparently IPG had some tough times, Interpublic has had four CEOs in six years. However “current CEO Michael Roth has valuable turnaround experience and has demonstrated the ability to make tough decisions necessary to right the ship. Since taking the helm in 2005, he has created positive momentum, particularly through organic growth and important new business wins like Kmart, Kraft and Weight Watchers,” according to Rogers.
How much does IPG worth? Rogers estimated a private market value of $15 a share.
IPG is owned by two other Gurus: HOTCHKIS & WILEY owns 30,662,310 shares as of 06/30/2007, an increase of 80.3% of from the previous quarter. This position accounts for 1.05% of the $33.15 billion portfolio of HOTCHKIS & WILEY Capital Managment LLC. Dodge & Cox owns 48,901,919 shares as of 06/30/2007, an increase of 3.85% of from the previous quarter. This position accounts for 0.4% of the $138.5 billion portfolio of Dodge & Cox.
In the mean time, we are seeing mixed activities from insiders. There were a number of directors and officers buying and selling.
UBS AG (UBS)
UBS AG and its subsidiaries provide a range of financial products and services worldwide. The company's wealth management and business banking operations include the provision of a range of products and services for wealthy clients worldwide. UBS AG has a market cap of $102.52 billion, its shares were traded at around $53.13 with with P/E ratio of 8.70 and P/S ratio of 2.31.
According to Ariel Fund, UBS is “Worldwide Financial Powerhouse. With over $2.5 trillion in managed assets, UBS is one of the largest and most prestigious private wealth managers in the world. The company has a stellar reputation as a private banker, particularly in Europe and Asia .” Also UBS has plenty of “ Room to Grow”. “W e see ample runway for growth across the United States . Equally important, we believe the Street is not giving the company enough credit for its international wealth management strength. For example, UBS has the leading share of private wealth in Asia , the world’s fastest region of global growth and there is still considerable room to make further inroads.”
John Rogers bought 25,940 shares in the quarter ended 06/30/2007 at the average price of $62.9, which is 0.01% of the $13.23 billion portfolio of ARIEL CAPITAL MANAGEMENT LLC. Since the second quarter, the price has decline to the recent $53. John Rogers estimated a private market value of $94.
It seems that things work very well for John Rogers, the head of Ariel Capital Management. In the past decade his fund has earned nearly 14 percent a year, beating the market by more than five percentage points annually. He typically holds a stock for four or five years, an eternity compared with the 14-month holding period of the average mutual fund.
According to the website of Ariel Capital Management, Rogers likes The Interpublic Group of Companies, Inc. (IPG, Financial), UBS AG (UBS, Financial). A.G. Edwards, Inc. ( AGE).
The Interpublic Group of Companies, Inc. (IPG)
The Interpublic Group of Companies, Inc., together with its subsidiaries, provides advertising and marketing services. The company operates in two segments, Integrated Agency Network and Constituency Management Group. The Interpublic Group of Companies Inc. has a market cap of $5.05 billion, its shares were traded at around $10.56 with with P/E ratio of 102.98 and P/S ratio of 0.78.
According to Ariel Funds, IPG has the competitive advantages of global reach and scale. “With over 43,000 creative personnel working in 130 countries, Interpublic can meet virtually all of a client’s marketing and advertising needs anywhere they do business. As a result, Interpublic has attracted world-class firms like General Motors, Johnson & Johnson and Microsoft. Additionally, loyalty is a hallmark of Interpublic’s client relationships, creating enviable recurring revenue streams and the opportunity to sell customers additional products and services to enhance their brands.”
Apparently IPG had some tough times, Interpublic has had four CEOs in six years. However “current CEO Michael Roth has valuable turnaround experience and has demonstrated the ability to make tough decisions necessary to right the ship. Since taking the helm in 2005, he has created positive momentum, particularly through organic growth and important new business wins like Kmart, Kraft and Weight Watchers,” according to Rogers.
How much does IPG worth? Rogers estimated a private market value of $15 a share.
IPG is owned by two other Gurus: HOTCHKIS & WILEY owns 30,662,310 shares as of 06/30/2007, an increase of 80.3% of from the previous quarter. This position accounts for 1.05% of the $33.15 billion portfolio of HOTCHKIS & WILEY Capital Managment LLC. Dodge & Cox owns 48,901,919 shares as of 06/30/2007, an increase of 3.85% of from the previous quarter. This position accounts for 0.4% of the $138.5 billion portfolio of Dodge & Cox.
In the mean time, we are seeing mixed activities from insiders. There were a number of directors and officers buying and selling.
UBS AG (UBS)
UBS AG and its subsidiaries provide a range of financial products and services worldwide. The company's wealth management and business banking operations include the provision of a range of products and services for wealthy clients worldwide. UBS AG has a market cap of $102.52 billion, its shares were traded at around $53.13 with with P/E ratio of 8.70 and P/S ratio of 2.31.
According to Ariel Fund, UBS is “Worldwide Financial Powerhouse. With over $2.5 trillion in managed assets, UBS is one of the largest and most prestigious private wealth managers in the world. The company has a stellar reputation as a private banker, particularly in Europe and Asia .” Also UBS has plenty of “ Room to Grow”. “W e see ample runway for growth across the United States . Equally important, we believe the Street is not giving the company enough credit for its international wealth management strength. For example, UBS has the leading share of private wealth in Asia , the world’s fastest region of global growth and there is still considerable room to make further inroads.”
John Rogers bought 25,940 shares in the quarter ended 06/30/2007 at the average price of $62.9, which is 0.01% of the $13.23 billion portfolio of ARIEL CAPITAL MANAGEMENT LLC. Since the second quarter, the price has decline to the recent $53. John Rogers estimated a private market value of $94.
