When the financial market started to show signs of trouble in 2007, Ken Heebner shorted financials and made 80% for his fund. That made him the hottest fund manager on the earth. Then in 2008, his fund lost 48%. For this year, his fund also underperformed the market considerably.
Did Ken Heebner lose his touch? Probably not. He had periods of underperformances before, only to come back with strong gains. For the last 10 years, his fund accumulated more than 300% of gains, while the S&P500 is still negative.
In his recent interview with CNBC, he said:
1. US is benefiting from the dollar slide so is China as the depreciation of their currencies helps their export.
2. Heebner is optimistic about the stock market. His reason is rather intriguing: we have years growth ahead of us as the high unemployment can fuel the growth without creating high inflation. High growth and no inflation is ideal for the stock market.
3. Gold and stock market can go up together.
Ken Heebner owns 77 stocks with a total value of $6.7 billion. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Ken Heebner
Did Ken Heebner lose his touch? Probably not. He had periods of underperformances before, only to come back with strong gains. For the last 10 years, his fund accumulated more than 300% of gains, while the S&P500 is still negative.
In his recent interview with CNBC, he said:
1. US is benefiting from the dollar slide so is China as the depreciation of their currencies helps their export.
2. Heebner is optimistic about the stock market. His reason is rather intriguing: we have years growth ahead of us as the high unemployment can fuel the growth without creating high inflation. High growth and no inflation is ideal for the stock market.
3. Gold and stock market can go up together.
Ken Heebner owns 77 stocks with a total value of $6.7 billion. These are the details of the buys and sells.
- New Purchases: AAPL, AEM, AFL, AIG, ALK, APOL, ASIA, BBY, C, CAR, CHK, CL, CMRG, CS, EOG, FCH, FCX, FUQI, GES, GFA, HIG, HOT, JOSB, KSS, MA, MAR, MET, PRU, PWRD, SHO, SLG, STT, SWN, TECD, TGT, TXN, VALE, WLP,
- Added Positions: BIDU, CMI, DRH, FDX, HTS, JPM, LHO, PCU, SLB, VNO,
- Reduced Positions: AGO, BAC, CVS, ESRX, MAC, NKE, ORCL, PM, VTR,
- Sold Out: AAI, ABT, AGNC, AMZN, ARO, AVB, BAX, BCR, CBL, CELG, CEO, CME, CNQ, CPA, DEI, DO, GILD, ICE, JBLU, JCP, LFT, MCD, MHS, MIDD, NAV, NTES, ORLY, PBR, PNC, RIG, RJET, SOHU, SU, SYNA, TCK, TCO, TEVA, WDC, WMT,
This is the sector weightings of his portfolio:
| Financials | 42.7% |
| Technology | 15.9% |
| Basic Materials | 11.4% |
| Consumer Goods | 9.9% |
| Industrials | 8.2% |
| Consumer Services | 4.2% |
| Oil & Gas | 3% |
| Health Care | 2.9% |
These are the top 5 holdings of Ken Heebner
- Goldman Sachs Group Inc. The (GS) - 2,809,100 shares, 7.71% of the total portfolio
- Ford Motor Company (F) - 59,963,000 shares, 6.43% of the total portfolio
- FreeportMcMoRan Copper & Gold Inc. (FCX) - 5,984,400 shares, 6.11% of the total portfolio
- Baidu.com Inc. ADS (BIDU) - 913,000 shares, 5.31% of the total portfolio
- FedEx Corp. (FDX) - 4,003,500 shares, 4.48% of the total portfolio
