Meet the unconventional portfolio manager who crushed Wall Street last year while barely watching the market
|01/19/2018||Posted by BusinessMediaguide.Com under General World News||
- Alex Umansky, who manages five mutual fund portfolios for Baron Funds, saw his $199 million Fifth Avenue Growth Fund smash benchmarks in 2017 with a 40.6% return.
- The outperformance was largely due to the fund’s heavy exposure to Amazon, Alibaba, Facebook, and Alphabet, which make up more than one-third of the portfolio.
- The selection of those stocks, and their outsized contribution to the fund, speak to Umansky’s long-term investment strategy, which seeks so-called “platform businesses.”
- Because of his long-term focus, Umansky spends his time researching companies and taking meetings, rather than intently watching markets or the newswire.
- Umansky says that he’s not necessarily scared read more >>>