I bought a lot of PBHG Limited on Friday..
This fund will do very well. After the recent correction, many growth stocks are at discounted levels, and Limited is going to have a field day placing their investments. I transferred the money from other PBHG funds. I plan to close some other funds to replenish the money I transferred.
I'm looking at buying Select Equity. That fund was up 71 cents to around $19 the day before yesterday. That's an amazing gain. I thought I did well when the Technology and Communications fund was up 41 cents to around $14.5 that day.
My US mutual fund money is in PBHG, Kaufmann, and the Vanguard Index 500 fund. I used to have around 8-10 funds, and it was an unfocused, underperforming strategy. I'm sticking with the time-tested mgmt of PBHG and Kaufmann. It wouldn't make sense for me to go with unproven manager when I don't have to. I'm also considering the Van Wagoner funds, but they've taken in a lot of new money due to press coverage.
Last week I closed my account at 20th Century Vista, and last month I closed my Robertson Stephens Value + Growth account. Vista's mgmt is definitely not as good as PBHG. Value + Growth's manager is not providing value to me. He's just investing in blue-chip, institutionally followed growth stocks. There's only 25-30 stocks in the portfolio, and they're all well known. Nothing special...anyone can do that. I want to benefit from informed, sharp analysis of smallcap & midcap companies that get less Wall Street coverage.
Philip |
