Guru John Hussman (Trades, Portfolio), president and principal shareholder of Hussman Strategic Advisors, has been critical of U.S. Treasury and Federal Reserve policies in the past – and reportedly predicted the 2008 recession.
A former economics professor, Hussman added 28 new buys to his portfolio in the first quarter. Four had sector weightings exceeding 1.00%, and a fifth is weighted 0.98%.
Hussman acquired 350,00 shares of Zumiez Inc (ZUMZ, Financial), a Lynnwood, Washington-based chain of specialty clothing stores, for an average price of $38.77 per share. The purchase had a 1.48% impact on Hussman’s portfolio.
Zumiez has a $913.4 million market cap and a $763.17 million enterprise value. It has a P/E of 21.0, a Price/Book of 2.5 and a Price/Sales of 1.1.
Joel Greenblatt (Trades, Portfolio) also has shares of Zumiez in his portfolio.
He bought 150,000 shares of Bed Bath & Beyond Inc (BBBY, Financial), a New Jersey-based chain of domestic retail stores, for an average price of $75.86 per share. That acquisition had a 1.21% impact on his portfolio.
Bed Bath & Beyond has a market cap of $12.13 billion and an enterprise value of $12.64 billion. It has a P/E of 13.7, a Price/Book of 4.4 and a Price/Sales of 1.1.
Eight other gurus – Jean-Marie Eveillard (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Ruane Cunniff (Trades, Portfolio), PRIMECAP Management (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Ray Dalio (Trades, Portfolio), David Dreman (Trades, Portfolio) and Meridian Funds (Trades, Portfolio) – have shares of Bed Bath & Beyond in their portfolios.
Hussman purchased 90,000 shares of Laboratory Corp of America Hldgs (LH, Financial), commonly known as LabCorp, a North Carolina-based clinical laboratory network, for an average price of $119.7 per share. The buy had a 1.19% impact on Hussman’s portfolio.
LabCorp has a market cap of $11.73 billion and an enterprise value of $18.24 billion. It has a P/E of 25.2, a Price/Book of 2.6 and a Price/Sales of 1.6. Five gurus – Mario Gabelli (Trades, Portfolio), Wallace Weitz (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Scott Black (Trades, Portfolio) and Joel Greenblatt (Trades, Portfolio) – have shares of LabCorp in their portfolios. Charles Brandes (Trades, Portfolio) sold his stake in LabCorp in the first quarter of 2015.
He acquired 200,000 shares of WR Berkley Corp (WRB, Financial), a Connecticut-based commercial insurance holding company, for an average price of $50.17 per share. The purchase had a 1.06% impact on Hussman’s portfolio.
WR Berkley has a $6.2 billion market cap and a $8.07 billion enterprise value. It has a P/E of 11.1, a Price/Book of 1.3 and a Price/Sales of 0.9. Five gurus – Jean-Marie Eveillard (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), John Keeley (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio) and David Dreman (Trades, Portfolio) – have shares of Berkley in their portfolios.
Hussman bought 150,000 shares of Cognizant Technology Solutions Corp (CTSH, Financial), a New Jersey-based company that provides information technology services and consulting, for an average price of $58.97 per share. That acquisition had a 0.98% impact on Hussman’s portfolio.
Cognizant has a market cap of $38.22 billion and an enterprise value of $35.94 billion. It has a P/E of 26.1, a Price/Book of 4.6 and a Price/Sales of 3.5. Ray Dalio (Trades, Portfolio) and Steve Mandel (Trades, Portfolio) have shares of Cognizant in their portfolios. Lee Ainslie (Trades, Portfolio) sold his stake in Cognizant in the fourth quarter of 2014.
Hussman’s other new buys in the first quarter were Vasco Data Security International Inc (VDSI, Financial), Acorda Therapeutics Inc (ACOR, Financial), InterDigital Inc (IDCC, Financial), Visa Inc (V, Financial), Staples Inc (SPLS, Financial), Dun & Bradstreet Corp (DNB, Financial), Republic Services Inc (RSG), Fresh Market Inc (TFM), Zimmer Holdings Inc (ZMH), Travelers Companies Inc (TRV), CurrencyShares Euro Trust (FXE), Mattel Inc (MAT), Gentex Corp (GNTX), Oracle Corporation (ORCL), Ulta Salon Cosmetics & Fragrances Inc (ULTA), Waters Corp (WAT), CurrencyShares Japanese Yen Trust (FXY), National Oilwell Varco Inc (NOV), Gentherm Inc (THRM), II-VI Inc (IIVI), Landstar System Inc (LSTR), Cabot Microelectronics Corp (CCMP) and Pitney Bowes Inc (PBI).
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