Look for Cash Flow in Small-Cap Stocks
Queens Road manager Steve Scruggs looks for small-cap names that generate copious amounts of cash.
John Coumarianos
John Coumarianos is a fund analyst with Morningstar and editor of Morningstar's American Fund Family Report, a monthly newsletter that offers independent, no-holds-barred guidance on the pros and cons of this dominant fund family. He welcomes e-mail but cannot give investment advice. Click here for a free issue of the American Fund Family Report.
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Don't Stretch Value Discipline to Be Fully Invested
Queens Road manager Steve Scruggs prefers to wait for well-priced investments, even if it means his funds hold significant amounts of cash.
Better Opportunities Outside Financial Sector
Queens Road manager Steve Scruggs thinks the risk/reward trade-off in financials is less attractive than in other sectors.
Gensler: Tech Today as Cheap as I've Ever Known
...but that alone is not a reason to invest, says the T. Rowe Price Global Stock manager. Instead, production evolution is key.
Gensler: Whole World Depending on the Emerging World
The T. Rowe Price Global Stock Fund manager likes emerging markets' self-financed growth, very high savings rates, and improved corporate and government balance sheets. Plus, Gensler on getting comfortable with emerging markets capitalism.
Gensler: No Such Thing as a Hold Rating for Stocks
If a stock is no longer a buy, you should dump it from your portfolio says T. Rowe Price Global Stock fund's Rob Gensler.
Gensler: European Banks Still Too Risky
European banks were too stingy when raising capital, leaving them exposed to future downturns, says T. Rowe Price Global Stock fund's Rob Gensler
Are Some Index Funds Ripping You Off?
High fees hurt returns.
How First Eagle Mixes Moats with Cigar Butts
First Eagle's Abhay Deshpande on the strategy behind portfolio holdings that fit the mold of Graham's cigar butts and others that are more Buffett-like.
How First Eagle Plays Japan
First Eagle's Abhay Deshpande says Japan is a market of stocks, not a stock market, with some picks that can greatly outperform the market as a whole.
First Eagle's Case for Holding Gold
First Eagle's Abhay Deshpande says the funds' gold holdings are protection against the world governments' race to debase their currencies.
First Eagle's Deshpande: High Yield Opportunities Limited
First Eagle's Abhay Deshpande says the funds have been selective in their debt exposure as many opportunities have dried up.
Deshpande on Current Valuations
First Eagle's Abhay Deshpande on the valuation outlook for the portfolio holdings and the opportunity set available to them.
Are the Odds Stacked Against Stock Funds?
Robert Shiller's S&P CAPE valuation data suggests moderate headwinds for large-cap stock funds, and even active funds may feel the drag.
Some American Funds Insiders Said Size Was a Problem
Lawsuit evidence shows some portfolio counselors voiced concerns in a 2004 internal survey, but the funds' strong performance is hard to fault.
Are REIT Funds' Best Days Behind Them?
There are several reasons to worry.
Three Things Every Investor Needs to Know
How to buy and rebalance effectively.
Could Investors Use a Little Magic?
How Joel Greenblatt's magic formula stacks up against some popular mutual funds.
Are Stocks Too Rich?
Even if the market looks dear, stick to your planned allocation or find a seasoned manager who can adjust it for you.
Where the Hunt for Value Begins
International Manager of the Decade David Herro on the initial steps to unearth value and the crucial steps that follow.
Market Missing the Value in Asset Managers
International Manager of the Decade David Herro on misvalued asset managers and his increasing interest in Japanese companies.
Emerging Theme in Herro's Auto, Luxury Picks
International Manager of the Decade David Herro says exposure to emerging markets will boost the beaten-down stocks of BMW, Richemont, Bulgari and others.
Herro: Use Caution in BRIC
Just because an economy is booming doesn't mean you should buy the stocks in that market, says International Manager of the Decade David Herro.
The Trouble with Valuing Energy Companies
Pegging normal energy prices and shifting cost structures make these firms difficult to value accurately, says Morningstar International Manager of the Decade David Herro.
How Oakmark Puts a Currency Hedge On
The Oakmark manager explains the firm's policy of hedging only when the foreign currency looks 20% or more overvalued--and where their hedges are today.
Herro Answers 'Why Go Overseas?'
Any time you can broaden your subset, broaden your investable universe, you have a higher probability of achieving success, says the Oakmark manager.
Herro: We're Still Finding Value
The Oakmark manager says stocks are still cheap today, especially compared with other asset classes.
Was It a Lost Decade for American Funds?
American's stock and balanced funds held up.
Two Things to Consider Before Picking Funds
Think about your goals, and learn about market history.
How American's Putting Cash to Work
How cash stakes of some American funds have declined, and what the managers of those funds are buying.
Put These Top Managers to Work for You
How to employ our Fund Manager of the Decade nominees wisely.
A Buffett-Graham-Plus Approach
Morningstar 2008 Manager of the Year Charlie Dreifus on margins of safety, moats, and his Abe Briloff way with balance sheets.
A Pick that Graham Could Agree With--And Did
Morningstar 2008 Manager of the Year Charlie Dreifus' number-one holding also made its way into 'The Intelligent Investor.'
Bigger Fish on Sale in the Recession
Morningstar 2008 Manager of the Year Charlie Dreifus discusses going up the market-cap ladder for three picks during the severe market downturn.
Can Small Caps Continue Their Run?
Morningstar 2008 Manager of the Year Charlie Dreifus says it will probably be more difficult to find reasonably priced small-cap organic growers in the years ahead.
Is It the Right Fund for You? Take Our 10-Minute Test
Use these rules to narrow the field.
In Defense of the Humble Balanced Portfolio
Buy-and-hold works--if you've got the right allocation to begin with.
How American's Foreign Funds Stack Up
Which of these six international funds have something to write home about?
Two Funds Fit for Royalty
This manager is off the radar but on the mark.
Smart Plays in the Tech Sector
How American Funds' growth offerings have navigated technology.
No New Normal for Nygren
In his most recent shareholder letter, Oakmark's Bill Nygren takes issue with the gloom and doom view.
Our Take on the Second Quarter
As the rally eases off the gas pedal, we take stock of winners, losers, valuations, and the opportunities remaining.
Cigar Butts and Moats
How to implement a Buffett-inspired fund strategy.
Economic Historian Peter Bernstein Dies at 90
Capital Ideas author had knack for making sophisticated research accessible and actionable.
New Round of Layoffs at American Funds' Parent
Capital Group expects 820 staff cuts; no investment professionals included in layoffs.
Nygren: A Lot of Value Still Out There
Oakmark manager Bill Nygren says value investors can capitalize when the market believes "normal" will never happen again.
More Dialing for Dividends at American Funds
Can you hear me now?
Dialing for Dividends
What AT&T's earnings release means for American Funds' big stake in the giant telecom.
Filling in the Gaps in Your American Funds Portfolio
Consider small-cap, TIPS, real estate, commodity, and distressed security funds.
American to Pare Money Market Lineup
If a proposal passes, the firm will have no municipal money market option.