John Rogers

Last Update: 2014-12-09

Number of Stocks: 186
Number of New Stocks: 4

Total Value: $7,750 Mil
Q/Q Turnover: 8%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

John Rogers' s Profile & Performance

Profile

John Rogers is the Founder of Ariel Investment, LLC, which he started in 1983. As of 2008, the firm had over $15.5 billion in assets under management. John manages Ariel's small and mid-cap institutional portfolios as well as the Ariel Fund (ARGFX) and Ariel Appreciation Fund (CAAPX). He is also a long-term Forbes columnist writing a column called "Patient Investor."

Web Page:http://www.arielmutualfunds.com/

Investing Philosophy

Rogers has concentrated his investment selection on small and medium-sized companies whose share prices are undervalued. He believes that patience, independent thinking, and a long-term outlook are essential to achieving good returns. His fund seeks to purchase companies whose prospects include high barriers to entry, sustainable competitive advantages, and predictable fundamentals that allow for double digit cash earnings growth. Rogers purchases companies when they are trading at a low valuation relative to potential earnings (p/e less than 13x forward cash earnings) and/or a low valuation relative to intrinsic worth (40% discount to private market value - PMV).

Total Holding History

Performance of Ariel Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201344.6831.5513.1
201220.3215.44.9
2011-11.342.08-13.4
3-Year Cumulative54.3 (15.6%/year)55 (15.7%/year)-0.7 (-0.1%/year)
201025.9715.0610.9
200963.4226.4637.0
5-Year Cumulative217.7 (26%/year)125.5 (17.7%/year)92.2 (8.3%/year)
2008-48.25-37-11.2
2007-1.75.61-7.3
200610.3515.79-5.4
20050.924.91-4.0
200421.971210.0
10-Year Cumulative119.5 (8.2%/year)104.1 (7.4%/year)15.4 (0.8%/year)
200328.0428.7-0.7
2002-5.18-22.116.9
200114.21-11.926.1
200028.77-9.137.9
1999-5.7621-26.8
15-Year Cumulative269.4 (9.1%/year)98.3 (4.7%/year)171.1 (4.4%/year)
19989.8928.6-18.7
199736.4433.43.0
199623.51230.5
199518.5237.6-19.1
1994-4.221.3-5.5
20-Year Cumulative676.6 (10.8%/year)483.2 (9.2%/year)193.4 (1.6%/year)
19938.7310.1-1.4
199211.737.64.1
199132.7230.52.2
1990-16.08-3.1-13.0
198925.1131.7-6.6
25-Year Cumulative1214.6 (10.9%/year)1050.7 (10.3%/year)163.9 (0.6%/year)
198839.9216.623.3
198711.45.16.3

Top Ranked Articles

Notes from the Cincinnati CFA Value Investing Panel (DELL, AAPL, CX, YMC, LAZ, BX, KKR)
On Tuesday, October 11th, I attended a Value Investing Panel sponsored by the CFA Society of Cincinnati. The event, moderated by Chris Meyer of the Fund Evaluation Group, featured renowned small cap investor John Rogers of Ariel Investments and James Thompson, senior analyst at Southeastern Asset Management. While less known than Rogers, Thompson has spent 12 years under the tutelage of the legendary Mason Hawkins at Southeastern. The session covered everything from investment philosophy to choosing portfolio managers to finding value in today’s market. My notes are below, broken down by category. I used quotation marks for any direct quotes. Any errors in the notes are mine. Read more...
John Rogers' October Monthly Market Commentary
This past month the 25-year anniversary of a very important market incident occurred—“Black Monday,” which was the largest single-day drop in the history of the American stock market. That day, October 19, 1987, holds special meaning for Ariel Investments for two related reasons. First, it was the first huge shock to the stock market system after our firm’s launch in 1983. Second, the crash served as an intellectual kiln; hardening and making permanent the ideas on which we founded Ariel. While many might think a one-day market event 25 years ago is no longer relevant, to our ears its lessons continue to echo. Read more...
Ariel Funds Top Buys: "We think like Halvorsen: CRL is a buy"
John Rogers founded Ariel Capital Management LLC in 1983. As of 2008, the firm had over $15.5 billion in assets under management. Read more...
Why John Rogers of Ariel Capital Managemnent own 13% of Gannett
John Rogers owns 29 million shares of GCI or roughly 13% of the company. Why would an investor want to own a newspaper company? Everyone will tell you that newspapers are a dying industry. My two sons, both in college, will insist that they will never read newspapers, but instead will continue get all of their information free from various free on-line sites. So what's to like here? Lets go over a few valuation metrics. GCI closed at $11.16 yesterday, down from a recent high of $14 and change, and an all-time high of $89 in 2003. Read more...
Aflac Announces Increased Share Repurchases and Boosts Dividends
Aflac (AFL), one of the largest insurers and most familiar brands in American insurance, enhanced its financial reputation this week by increasing its dividend and announcing that it would be spending more on stock repurchases in the near future. Read more...
» More John Rogers Articles

Commentaries and Stories

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John Rogers' October Commentary
Recently, we have been concentrating on fundamentals—by rereading one of our favorite books, A Random Walk Down Wall Street, by Princeton professor Burton G. Malkiel. We highly recommend the 10th edition, which was revised in 2012. It remains a timeless, thoughtful meditation on efficient markets. More...

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Johnson & Johnson Fairly Valued – I Will Bet on It
In this article, let´s consider Johnson & Johnson (JNJ), a $297.71 billion market cap that is the world's largest and most diverse healthcare company. It has a trailing P/E ratio that indicates that the stock is relatively undervalued (PE 19.4x vs Industry Median 42.0x). More...

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Some Drivers of the World's Largest Automaker
In this article, let's take a look at Toyota Motor Corporation (TM), a $182.43 billion market cap company that is one of the world's largest automobile producers. More...

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John Rogers Ariel Appreciation Fund Q3 Commentary
Investing in mid-cap stocks is riskier and more volatile than investing in large-cap stocks. The intrinsic value of the stocks in which the portfolio invests may never be recognized by the broader market. Ariel Appreciation Fund often invests a significant portion of its assets in companies within the financial services and consumer discretionary sectors and its performance may suffer if these sectors underperform the overall stock market. More...

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John Rogers' Ariel Fund Q3 2014 Commentary John Rogers - John Rogers' Ariel Fund Q3 2014 Commentary
Investing in small- and mid-cap stocks is riskier and more volatile than investing in large-cap stocks. The intrinsic value of the stocks in which the portfolio invests may never be recognized by the broader market. Ariel Fund often invests a significant portion of its assets in companies within the financial services and consumer discretionary sectors, and its performance may suffer if these sectors underperform the overall stock market. More...

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Southern Company a Fairly Valued Stock
In this article, let´s consider Southern Company (SO), a $42.29 billion market cap, which has a trailing P/E ratio that indicates that the stock is relatively undervalued (PE 18.9x vs Industry Median 20.1x). The obvious question I’m sure you want to know is – what is the future stock price movement? Although I cannot predict exactly the moment, we can see some drivers of this Atlanta-based energy holding company, which is one of the largest producers of electricity in the U.S., and then try to analyze its intrinsic value and compare it with the actual trading price. More...

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State Street: A Good Business Model
In this article, let's take a look at State Street Corporation (STT), a $29.10 billion market cap bank holding company with more than $27 trillion of assets under custody and $2 trillion of assets under management. It operates in 26 countries and more than 100 geographic markets worldwide. More...

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5-year lows: Aeropostale Inc, ASA Gold And Precious Metals Ltd, Nuverra Environmental Solutions Inc, and Multi-Fineline Electronix Inc
According to GuruFocus' list of 5-year lows, these Guru stocks have reached their 5-year lows: Aeropostale Inc, ASA Gold And Precious Metals Ltd, Nuverra Environmental Solutions Inc, and Multi-Fineline Electronix Inc More...

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John Rogers' Ariel Investments Monthly Commentary - September
We continue to field questions concerning the “active versus passive” investing debate. For our part, we largely agree with Morningstar’s Michael Breen, who wrote in his “Give Peace a Chance in the Active vs. Passive Debate” article: [T]here’s value to both active and index approaches. A number of actively managed funds have beaten the broad market, but index funds tracking the market still delivered solid returns over time in a cheap, low-maintenance package that’s a perfect fit for many investors. Meanwhile, those willing to roll up their sleeves and do a little fundamental research appear to have a good chance of picking winning active funds.1 More...

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Guru-Held Stocks Trading At Historical Low P/B Ray Dalio,John Rogers - Guru-Held Stocks Trading At Historical Low P/B
Buying stocks based on historical low price-to-book (P/B) ratios has been shown to be an effective investment strategy. At GuruFocus, our “Top 25 Historical Low P/B Ratio Companies” portfolio has outperformed the S&P 500 by 16.13 percent since its inception in 2010. Our portfolio is rebalanced once a year and can be viewed at GuruFocus.com. Below is the latest list of stocks that are trading near historical low P/B ratios and are widely held by the investing gurus we follow: More...

P/B ratio


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Accenture is a Leading IT Services Provider
In this article, let's take a look at Accenture plc (ANC), a $52.36 billion market cap company, which is a global management consulting, technology services and outsourcing company. More...

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Ariel Funds' John Rogers August Commentary
We have noted before that standardized return periods, especially shorter-term ones, can unfortunately drive investors to make poor decisions. To illustrate the point, below we discuss the trailing three-year returns of the equity markets. These three-year numbers have been rising for several months, and we think they are likely to rise next month—fairly substantially, in fact. This observation is not in any way a prediction; it is based on the known past rather than on the unknowable future. More...

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Many Hedge Fund Managers Invest in Bed Bath John Rogers,Ray Dalio,Jim Simons,Richard Snow,Jere - Many Hedge Fund Managers Invest In Bed Bath
In this article, let's take a look at Bed Bath & Beyond Inc. (BBBY), a $13.10 billion market cap company, which isone of the best retailer of the industry. More...

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Accenture: What Amazing ROE During Ten Years
In this article, let´s see one of the most important financial ratios applying to stockholders, the best measure of performance for a firm's management: the Return on Equity (ROE), and we are going to analyze it in the case of Accenture PLC (ACN). More...

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The Top Five Guru-Held Mid-Cap Stocks of Q2 John Rogers,Richard Pzena - The Top Five Guru-Held Mid-Cap Stocks Of Q2
Using the GuruFocus Aggregated Portfolio Screener you can filter results to see what companies maintain the highest amount of guru ownership. By using this screener, we filtered down to see mid-cap companies which are held by the most gurus. The following five mid-capped companies are held by the largest number of gurus during the past quarter. More...

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Weekly 3-Year Low Highlights: GES, QLGC, NPK, PHMD, FHCO
According to GuruFocus list of 3-year lows, Guess? Inc, QLogic Corp, National Presto Industries, PhotoMedex Inc, and Female Health Co have all reached their 3-year lows. More...

WEEKLY, 3, YEAR, LOW, HIGHLIGHTS


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Weekly 3-Year Low Highlights: CHL, TM, STO, NTT
According to GuruFocus list of 3-year lows; China Mobile Ltd, Toyota Motor Corp, Statoil ASA, and Nippon Telegraph & Telephone Corp, have all reached their 3-year lows. More...

WEEKLY, 3, YEAR, LOW, HIGHLIGHTS


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Guru Stocks at 52-Week Lows: CHL, TM, SNY, NVO, TSM
According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows. More...

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5-year lows: Aeropostale Inc, Multi-Fineline Electronix Inc, Layne Christensen Co, and Forest Oil Corp.
According to GuruFocus list of 5-year lows, these Guru stocks have reached their 5-year lows: Aeropostale Inc, Multi-Fineline Electronix Inc, Layne Christensen Co, and Forest Oil Corp. More...

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