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

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Sealed Air's Businesses Remain Attractive
In this article let's take a look at Sealed Air Corporation (SEE), a leading global manufacturer of a wide range of food and protective packaging materials and systems. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

TE Connectivity Is Going to Double Revenue Growth Jean-Marie Eveillard,Robert Olstein,Steven Romick, - TE Connectivity Is Going To Double Revenue Growth
In this article, let's take a look at TE Connectivity Ltd (TEL), a $24.74 billion market cap company, which is a company which designs, manufactures and markets engineered electronic components and network solutions for the automotive, appliances, aerospace and defense, telecommunications, computers and consumer electronics industries. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Robert Olstein Comments on International Game Technology
On July 16, 2014, International Game Technology (IGT) announced that it has entered into a definitive merger agreement with GTECH S.p.A. for the acquisition of International Game Technology at a premium to the Fund’s cost. Following the announcement, the Fund liquidated its remaining position in International Game Technology based on a small deviation between the stock price and our calculation of intrinsic value. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Robert Olstein Comments on URS Corp
On July 13, 2014, URS Corporation (URS) announced the execution of a definitive agreement under which AECOM Technology Corporation will acquire all outstanding shares of URS Corporation again at a premium to the Fund’s average cost. Similarly, on news of this announcement, the Fund sold its remaining holding in URS Corporation as the stock approached our calculation of intrinsic value. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Robert Olstein Comments on MICROS Systems Inc
On June 23, 2014, MICROS Systems, Inc. (MCRS) announced that it has entered into a definitive agreement to be acquired by Oracle Corporation at a premium to the Fund’s cost. Following the news of the announcement, the Fund sold its remaining holdings in MICROS Systems, Inc., believing the acquirer paid a fair price. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Robert Olstein Comments on Express Inc
On June 12, 2014, Express, Inc (EXPR). confirmed that it had received a letter from Sycamore Partners, a private equity firm that owns approximately 9.9% of the company’s outstanding shares, indicating interest in acquiring the company. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

The Olstein Strategic Opportunities Fund’s 2014 Second Quarter Letter to Shareholders
Dear Fellow Shareholders: More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Robert Olstein Comments on Teradata Corp
Similarly, we believe investor sentiment has turned unduly negative on Teradata Corporation (TDC), (a long-time holding in the Fund since 2008), based on fears that newer technologies may effectively replace the company. We believe newer technologies will, in fact, complement Teradata Corporation’s data warehousing and analytic capabilities in a growing market segment. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Robert Olstein Comments on Bed Bath & Beyond Inc
Despite Bed Bath & Beyond, Inc.’s (BBBY) recent weak stock performance caused by investor fear that internet-based retailers (particularly Amazon) would cause a permanent deterioration in sales, we believe Bed Bath & Beyond, Inc. can continue to grow its free cash flow, albeit at a slower growth rate. The current stock price, in our opinion, discounts too pessimistic of a scenario in view of the fact that the company continues to generate more than sufficient free cash flow growth and we believe that growth should continue into the foreseeable future. After the close of the fiscal year, the stock has rebounded on news that the company would undertake an aggressive $1.1 billion accelerated stock repurchase program. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

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

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

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

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

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


  • Currently 1.00/5

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


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Bob Olstein on the Economy, Amazon, Internet Stocks
  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Value Investor Robert Olstein - Don't Chase Fad Stocks
Robert Olstein says the music has changed but the dance is the same. More...

  • Currently 3.00/5

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


Add Notes, Comments

If you want to ask a question, or report a bug, please create a support ticket.

User Comments

No comment yet

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK