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Lewis Braham: People, Not Computers, Are One Stock Fund’s Winning Formula: (FOOLX)
FYI: Most money managers, even those who consider themselves hands-on, “kick the tires” types, usually start with a computerized quantitative screen of their entire stock universe to narrow down potential investment candidates. Not Bryan Hinmon. “If we started from a quantitative place, we’d end up in the same place as everyone else,” the manager of the MFAM Global Opportunities fund says. “We’re interested in running portfolios that have a chance of outperformance.”
Hinmon’s logic makes sense: If you want to beat the market and competitors, you have to discover the unique qualitative advantages in companies that a quant screen or a factor-based fund can’t detect. MFAM Global Opportunities (ticker: FOOLX) has benefited by this approach. Over the past five years, its 8.6% annualized return has beaten 88% of its peers in Morningstar’s World Large Stock fund category; over the past decade, 92%. Regards, Ted https://www.barrons.com/articles/stock-fund-amazon-stock-mercadolibre-51567042136?mod=past_editions
