Word: majcher
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However, Stan Majcher, principal and portfolio manager of the Hotchkis & Wiley Mid-Cap Value Fund, disagrees. Majcher noted that his fund has a strong long-term performance record, as Morningstar currently ranks it the third best performing mid-cap fund when it comes to annualized returns over the past 10 years, with an annualized return of 10.85%. He acknowledges the fund underperformed in 2007 and 2008, but doesn't think these periods should be considered in isolation. (Read about the financial crisis after one year...
...Majcher says his fund's strategy is to seek out stocks that are wrongly considered risky or overvalued. "We screen for and invest in securities that are misunderstood," he says. "We'll tend to have stocks that look like they have poor characteristics, but when you dig a lot deeper, they don't." He said many of these companies have "temporary issues" that will go away and lead to higher stock performance. His portfolio trades at less than 10 times earnings, which is not overvalued, Majcher contends. "The portolio trades at less than 10 times earnings and the market trades...
...been around for 10 years and this isn't the first time we've screened poorly," Majcher says, "but we have actually have good performance over the period...
...particular attention to debt. Stan Majcher, portfolio manager for Hotchkis & Wiley Capital Management in Los Angeles, warns that if a company trades below $2 and carries a heavy debt load, the chances of long-term survival fade. With plenty of cash and a sensible strategy, the odds are better. That's why Majcher likes Gateway, an unpopular view among some analysts. Its stock is trading 95% off its peak, after a series of missteps. Majcher expects PC sales to pick up eventually. With zero debt and $1 billion in cash on its balance sheet, Gateway is an unlikely candidate...
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