Refer to the SMA All-Cap Value Fact Sheet for the Top 20 Holdings and performance data as of the most recent quarter-end.
In this Muhlenkamp Memorandum:
In general, we find the market is fully priced. Some sectors appear quite expensive (utilities come to mind), while others are less so (energy). If the market were a new car, you’d be paying the sticker price to buy it today…
Portfolio Managers: Investment Outlook for 2015
Since mid-2010, we had been impressed with the price spread between crude oil and natural gas. We thought the price of crude oil would come down over a period of a few years, primarily through the substitution of natural gas…
Investment Seminar May 5, 2015
A Stock Picker’s Market live sessions and webcasts at 2:00 p.m. and 7:00 p.m. ET …
Attend this seminar to:
- Learn what we mean by “Stock Picker’s Market” and how you may benefit from it.
- Learn what drives markets and how to recognize when those drivers are changing.
- Learn why both active and passive investors are needed for markets to function and how switching between the disciplines can be very expensive.