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The Ten Biggest Bets on Homebuilders Replies |
rffrydr
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rffrydr
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Joined: 30 Oct 2005
Posts: 16445
Location: Sunny California
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 Posted: Mon Nov 05, 2007 10:36 am Post subject: |
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rffrydr
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Joined: 30 Oct 2005
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Location: Sunny California
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| Posted: Sat Oct 27, 2007 11:56 am Post subject: |
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Hombuilders held their morning gap gain yesterday. Regional banks held Aug. lows and turning. Even FIG. Commerical Paper borrowing needs are mellowing with each broken deal.
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HenryTo
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Joined: 06 Aug 2004
Posts: 11260
Location: Los Angeles, California
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| Posted: Sat Oct 27, 2007 10:47 am Post subject: |
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Both Neuberger Berman Partners and Hotchkis and Wiley have great long-term track records.
For example, the NB Partners fund (a large blend fund) is up an annualized 17.83% (as of 3Q 2007) over the last three years, beating the Russell 1000 and S&P 500 by 4.06% and 4.69%, respectively. Over the last five years, this jumps to 4.21 and 4.74%, respectively. During the same time periods, the fund is also ranked in the 5th and 3rd percentiles among on its peer group of large blend funds.
Over the last 15 years, the is in the 15th percentile and outperformed the R1000 and the S&P 500 by 0.77% and 0.95%, respectively. Moreover, these guys have always been a careful bunch, prefering to get its alpha during market down cycles and is thus willing to give up some upside during huge bull markets (such as 1998 and 1999).
H&W Mid Cap Value underperformed dramatically during YTD 2007, but its long-term track record remains sound. American Beacon Large Cap Value - a fund of funds offering in the large blend space - has H&W as one of its four managers.
As for Janus Worldwide, it had its share of problems after the tech bubble popped but it (and several other Janus offerings) is now getting back on track. The current manager on Janus Worldwide has only been managing the fund for a little over three years and we're now starting to see some improvements in 2007. Here is Morningstar's report on it for those that have a subscription:
http://quicktake.morningstar.com/fundnet/MorningstarAnalysis.aspx?Country=USA&Symbol=JAWWX
| Quote: | This fund has struggled to be competitive for the better part of this decade, but we think it took leaps in the right direction when Jason Yee took over in 2004. Yee's transformation of the portfolio didn't translate into peer-beating returns overnight. In fact, the fund had a hard time keeping pace during his first two full years. But the fund's returns have looked better recently, and we think Yee's approach can lead to strong risk-adjusted returns over a much longer period.
We like the components of Yee's strategy. He wants to own good businesses that trade at reasonable valuations and have the benefit of strong management. That strategy is not particularly groundbreaking, but we think Yee has done a good job sticking with his picks during difficult times. |
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nodoodahs
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Joined: 06 May 2005
Posts: 2408
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| Posted: Fri Oct 26, 2007 12:53 pm Post subject: Re: The Ten Biggest Bets on Homebuilders |
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I don't know enough about the managers to be surprised. Tell me more?
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