Robert Olstein

Robert Olstein

Last Update: 2014-08-11

Number of Stocks: 123
Number of New Stocks: 11

Total Value: $741 Mil
Q/Q Turnover: 15%

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

Robert Olstein' s Profile & Performance

Profile

Robert A. Olstein is the Chairman and Chief Investment Officer of the Olstein Financial Alert Fund (OFALX). He is considered to be an expert in corporate financial disclosure and reporting practices. In 1971, he co-founded the "Quality of Earnings Report" service, which pioneered the concept of using inferential financial screening techniques to analyze balance sheets and income statements to alert institutional portfolio managers to positive or negative factors affecting a company's future earnings power and value of a company's stock.

Web Page:http://www.olsteinfunds.com/manager.htm

Investing Philosophy

Robert Olstein selects stocks by looking behind the numbers. He emphasizes a detailed look behind the numbers of a company's financial statement to assess the company's financial strength and assess potential downside risk. He believes that the Fund's objectives are best met by a "defense first" approach - an approach aimed at minimizing investment errors as opposed to finding companies with the highest appreciation potential without regard for downside risk. To qualify for his selection, a company must generate more cash flow than necessary to sustain the business, avoid aggressive accounting practices, demonstrate balance sheet fundamentals that are consistent with his defense first approach, and be selling at a discount to the private market value. Robert Olstein sells a stock when the stock appreciates to his appraised value.

Historical Allocation of Stock, Bonds, Cash

Total Holding History

Performance of Olstein All Cap Value Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201336.4131.554.9
201215.315.4-0.1
2011-4.32.08-6.4
3-Year Cumulative50.5 (14.6%/year)55 (15.7%/year)-4.5 (-1.1%/year)
201016.1715.061.1
200937.0126.4610.5
5-Year Cumulative139.6 (19.1%/year)125.5 (17.7%/year)14.1 (1.4%/year)
2008-43.8-37-6.8
2007-3.435.61-9.0
200614.4415.79-1.4
20052.794.91-2.1
200411.0512-0.9
10-Year Cumulative69.8 (5.4%/year)104.1 (7.4%/year)-34.3 (-2%/year)
200336.1928.77.5
2002-19.27-22.12.8
200117.25-11.929.1
200012.93-9.122.0
199934.892113.9
15-Year Cumulative233.5 (8.4%/year)98.3 (4.7%/year)135.2 (3.7%/year)
199815.0128.6-13.6
199734.8333.41.4
199624.36231.4

Top Ranked Articles

Robert Olstein: We are finding value in many sectors; on Citigroup, JC Penney and Cisco
Bob Olstein is considered to be an expert in corporate financial disclosure and reporting practices. In 1971, he co-founded the "Quality of Earnings Report" service, which pioneered the concept of using inferential financial screening techniques to analyze balance sheets and income statements to alert institutional portfolio managers to positive or negative factors affecting a company's future earnings power and value of a company's stock. Since inception in 1995, his Olstein Financial Alert Fund had returned an annualized 13.82% through the end of 2007. Read more...
Robert Olstein Looks Behind the Numbers in Financial Reports?
How does Gurus read financial reports? Robert Olstein is a CPA-turned money manager. The key to his success is his capability of looking behind the numbers. Robert Olstein detailed how he looks behind the numbers with financial reports. Read more...
Robert Olstein Buys Phelps Dodge Corp., Cheesecake Factory Inc., Univision Communications Inc., Sells Abercrombie & Fitch Co., Tupperware Corp., PerkinElmer Inc.
Robert Olstein buys Phelps Dodge Corp., Cheesecake Factory Inc., Univision Communications Inc. etc., sells Abercrombie & Fitch Co., Tupperware Corp., PerkinElmer Inc., Diebold Inc. etc during the 3-months ended 09/30/2006, according to the most recent filings of his investment company, Olstein Financial Alert Fund. Robert Olstein owns 58 stocks with a total value of $1.5 billion. Read more...
A Wealth of Choices for a Value Investor
IS the stock market making you queasy? Even with the market’s September surge, the losses, stress, and turmoil of the last lost decade provide plenty of reasons to stay on the sidelines.

Why not just hold cash, bonds or gold? They have done better than stocks for months, and investors have pulled billions of dollars out of domestic stock funds. But the standard reasons for sticking with equities still make some sense: over the long haul, stocks have produced better returns than other assets, and if you pick the right stocks — a big “if,” to be sure — you may have spectacular results.

In practice, though, betting on stocks demands a higher level of confidence than many people now possess. Is there a way to improve the odds?

Robert A. Olstein, a forensic accountant turned money manager based in Purchase, N.Y., thinks so. He practices a version of value investing — the disciplined, often-contrarian approach to security analysis refined decades ago by Benjamin Graham and David Dodd.

Mr. Olstein, 69, looks for stocks that are selling at a significant discount to their “intrinsic value” — what a company would be worth if it were privately held. For his flagship mutual fund, the Olstein All Cap Value fund, he says he is finding more bargains among American blue-chip stocks than he has ever seen.

His fund’s biggest holdings are household names that are generating significant amounts of cash, yet selling at prices he finds very reasonable. They include Intel, Microsoft, Macy’s, Xerox, DuPont, Radio Shack, Alliance Bernstein, Home Depot, Legg Mason and Ingersoll Rand. Their abundant cash flows should enable them to make moves like share buybacks, increased dividend payouts, mergers and acquisitions, which, he said, should serve as a catalyst to raise prices.

The full article can be found here-_http://www.nytimes.com/2010/09/12/business/12stra.html?src=busln

http://www.valuewalk.com/

Disclosure: Long Ingersoll Rand Read more...
Robert Olstein on Gap Stores (GPS)
Gap Stores (GPS) is an example of a stock surrounded by apathy and disgust which was recently added to our portfolio. GPS has similar characteristics to McDonald’s and Hasbro when we purchased these companies many years ago. Apathy and investor disgust created by consistent earnings and sales disappointments have resulted in the stock selling at the same price it traded at in 1997. Yet, between 1997 and 2005, earnings and sales have more than doubled. The stock peaked in the late 1990’s near $50.00 a share when the company earned $1.26 a share. We believe prospects are better now than they were in the late 1990’s, although we are not projecting a move back to $50.00 a share in the next few years. The company has adopted a back-to-basics strategy, consisting of closing down unprofitable stores, simplifying the product line, and de-leveraging the balance sheet (all actions focused on improving operating margins and generating excess cash.) In addition, over the past three years, GPS has moved from a net debt position to a net cash position of approximately $3.00 per share. The excess cash provides management with the leeway to fully execute their strategy, repurchase the company’s Read more...
» More Robert Olstein Articles

Commentaries and Stories

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The Olstein All Cap Value Fund’s 2014 First Quarter Letter to Shareholders
Dear Fellow Shareholders: More...

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Number-Focused Robert Olstein Reports Top Five of Q1
Robert Olstein is the chairman and chief investment officer of the Olstein Financial Fund. Olstein selects stocks by looking behind the numbers. He emphasizes a detailed look behind the numbers of a company's financial statement to assess the company's financial strength and assess potential downside risk. To be considered for his selection, a company must generate more cash flow than necessary to sustain the business, avoid aggressive accounting practices, demonstrate balance sheet fundamentals that are consistent with his defense first approach and be selling at a discount to the private market value. More...

  • Currently 3.33/5

Rating: 3.3/5 (3 votes)

Schlumberger Ltd (SLB): Solid Company and Growing Joel Greenblatt,Robert Olstein - Schlumberger Ltd (SLB):  Solid Company And Growing
Current Price: $100.22 More...

  • Currently 2.80/5

Rating: 2.8/5 (5 votes)

Guru Robert Olstein's Top Five Fourth Quarter Stocks Robert Olstein - Guru Robert Olstein's Top Five Fourth Quarter Stocks
Robert Olstein is the chairman and chief investment officer of the Olstein Financial Fund. Olstein selects stocks by looking behind the numbers. He emphasizes a detailed look behind the numbers of a company's financial statement to assess the company's financial strength and assess potential downside risk. To be considered for his selection, a company must generate more cash flow than necessary to sustain the business, avoid aggressive accounting practices, demonstrate balance sheet fundamentals that are consistent with his defense first approach and be selling at a discount to the private market value. More...

  • Currently 3.67/5

Rating: 3.7/5 (3 votes)

Olstein Top 3 Buys Last Quarter
Robert Olstein (Trades, Portfolio) is the chairman and chief investment officer of the Olstein Financial Alert Fund (OFALX). He is considered to be an expert in corporate financial disclosure and reporting practices. More...

AON, T, IGT, OLSTEIN, BARROW, HUSSMAN


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Rating: 1.0/5 (1 vote)

Weekly 3-Year Lows Highlight: FWM, FST, LAND, RDNT
According to GuruFocus list of 3-year lows; Fairway Group Holdings Corp, Forest Oil Corp, Gladstone Land Corp, and RadNet Inc. have all reached their 3-year lows. More...

WEEKLY, 3, YEAR, LOW, HIGHLIGHT


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Bob Olstein on the Economy, Amazon, Internet Stocks
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Value Investor Robert Olstein - Don't Chase Fad Stocks
Robert Olstein says the music has changed but the dance is the same. More...

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Rating: 3.0/5 (2 votes)

Robert Olstein Decreases 37 Companies - MSFT, CSCO, HAR, THO Robert Olstein - Robert Olstein Decreases 37 Companies - MSFT, CSCO, HAR, THO
The changes in the third quarter portfolio of the Olstein All-Cap Value Fund, managed by Guru Robert Olstein, include 37 reductions and sells combined, including high-impact decreases of his positions in Microsoft Corporation (MSFT), Thor Industries Inc. (THO), Cisco Systems Inc. (CSCO) and Harman International Industries Inc. (HAR). More...

SOFTWARE – INFRASTRUCTURE, RECREATIONAL VEHICLES, COMMUNICATION EQUIPMENT, CONSUMER ELECTRONICS


  • Currently 3.50/5

Rating: 3.5/5 (4 votes)

KSS and Tell – 16 Gurus Hold Kohl’s as Cold Weather Increases Sales
Kohl’s Corp. (KSS) resides in the consumer cyclical sector that is home to companies engaged in retail operations and services, as well as the production of automobiles, homebuilding, household goods, textiles and apparel, to name a few. More...

DEPARTMENT STORES


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Robert Olstein's Top Second Quarter Portfolio Increases
Robert Olstein is the chairman and chief investment officer of the Olstein Financial Fund. Olstein selects stocks by looking behind the numbers. He emphasizes a detailed look behind the numbers of a company's financial statement to assess the company's financial strength and assess potential downside risk. To be considered for his selection, a company must generate more cash flow than necessary to sustain the business, avoid aggressive accounting practices, demonstrate balance sheet fundamentals that are consistent with his defense first approach and be selling at a discount to the private market value. More...

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Rating: 4.1/5 (16 votes)

Robert Olstein: A Little Closer Look
“Consider downside risk when purchasing a security before considering upside potential.” — Robert A. Olstein More...

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Rating: 4.3/5 (7 votes)

Shareholder Letters a Worthy Read?
Most investors are familiar with Warren Buffett’s penchant for reading annual reports regularly, but it is incumbent upon all good value investors (or investors of any stripe) to acquire a taste for reading these reports in order to obtain a more accurate or clearer picture of the equity being studied. While we attribute this habit to Buffett, all good investors should find themselves scouring the pages looking for the little details that define a “yes” or a “no” when it comes to choosing an investment. More...

OLSTEIN


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Reflections from 20 Years of Investing (1994-2000)
"Wisdom comes by disillusionment." --George Santayana More...

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Rating: 3.5/5 (2 votes)

Robert Olstein’s Largest New Stock Picks
Robert Olstein, manager of the Olstein Funds, bought eight new stocks in the fourth quarter for his Olstein All-Cap Value Fund, the largest positions of which are: Ross Stores (ROST), Charles River Laboratories International (CRL) and Vishay Intertechnology (VSH). More...

  • Currently 3.55/5

Rating: 3.5/5 (11 votes)

Robert Olstein: There Is Still Much Value in the Market
Well-known value investor Robert Olstein of Olstein Funds was on Bloomberg to discuss the U.S. Stock market after the recent run up and where he is still finding value. He lines out the factors he is looking at while zeroing on his select investments. More...

ROBERT OLSTEIN, OLSTEIN FUNDS, VALUE INVESTORS, VALUE INVESTING, INVESTMENT STRATEGY, US STOCK MARKET OUTLOOK, VALUE STOCKS, VALUE IN THE MARKET


  • Currently 4.30/5

Rating: 4.3/5 (10 votes)

Value Investor Robert Olstein: Stocks Are Still Cheap
Well-known value investor Robert Olstein was on CNBC to discuss his outlook for the stock market and thinks that the stock market will move much higher over the next 12 to 18 months. More...

ROBERT OLSTEIN, US STOCKS ARE CHEAP, US STOCK MARKET, US STOCKS UNDERVALUED, CASH FLOW YIELDS, CISCO, TECHNOLOGY STOCKS, MICROSOFT


  • Currently 3.50/5

Rating: 3.5/5 (8 votes)

Value Investor Robert Olstein: Market Is Overreacting and His Top Picks
Well-known value investor Bob Olstein, chairman and CEO of Olstein Capital Management, was on CNBC to discuss his views on the stock market, Amazon (AMZN) and why it is going down, and other attractive opportunities in the market. He said markets overreacted in 2009 and are overreacting now too. More...

ROBERT OLSTEIN, VALUE INVESTOR, VALUE INVESTING, OLSTEIN CAPITAL MANAGEMENT, US STOCK MARKET, US STOCKS ATTRACTIVE, SHORT AMAZON.COM


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President & CEO of Ascena Retail David R Jaffe sold 433,600 shares
Ascena Retail Group, Inc, formerly known as The Dress Barn, Inc. Ascena Retail has a market cap of $3 billion; its shares were traded at around $19.01 with a P/E ratio of 14.9 and P/S ratio of 1. Ascena Retail had an annual average earnings growth of 17.8% over the past 10 years. More...

  • Currently 2.33/5

Rating: 2.3/5 (9 votes)

Guru Stocks Raising Dividends: HCII, FCX, STEI, CRWS, HBNC
This is the group of companies who raised their dividend during the week: Homeowners Choice, Freeport-McMoRan, Stewart Enterprises Inc., Crown Crafts Inc. and Horizon Bancorp. More...

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