Morton A. Cohen picked VLNC in the 3/13 WSJ dartboard contest for the following 6 mo. Who was this guy? He was featured in the 12/3/96 IBD on the front page "Investor's Corner". The article tells how Morton utilizes conferences put on by large investment firms. One of the ones he says is the best is the American Electronics Association conference which features about 300 companies.
He likes to get in on the ground floor and is the head of Cleveland's Clarion Group which has been generating 30% average annual returns since 1983. He manages $55 million through three funds, a VC fund, a hedged LP fund, and Clarion Offshore Fund Ltd. He's been chairman and/or chief executive of Clarion since 1981. He's been a top institutional salesman for Merrill Lynch, manager of research at Kippen & Co., and president of Yorkton Securities, and has operated MAC Management. He has an MBA from U. of Penn.
He focuses on small companies in technology and healthcare. He seeks management with experience, a good track record, "get-up-and-go", and a willingness to take risk.
He looks for companies with products that can dominate a market with capabilities in both domestic and international markets.
He has had winners in Myriad Genetics, Proxim (wireless), Sequs (liposome products), and Western Water Co. (water rights to cities).
Cohen thinks the three best industries will be wireless comm., technology, and natural resources.
I like his approach and am encouraged that, at least at one indelible point in time, picked Valence. |
