A fund manager finds the direct approach pays off
Last month, he started a fund, Olstein Strategic Opportunities, expressly intended to rattle the cages of managers who he says are not operating in the best interest of their shareholders.
Olstein has an enviable record. After fees, All Cap Value's one-year return of 13 percent trails the Standard & Poor's 500-stock index by 1.1 percentage points, but its five-year average annual return of 8.3 percent beats the index by 2.25 points. And the annual average gain of 15.3 percent since its inception 11 years ago is 5.5 points better than the index.
Read the complete article