Interview with top value manager

[jacobwolinsky]

This is my interview with Mark Foster, CIO of KM & Co. The company does ZERO press but they have outperformed the market for the past 35 years. They are totally value oriented and focus mostly on special situations. They also have a top performing smid cap mutual fund.

 

Full interview is here-http://www.valuewalk.com/2012/01/exclusive-interview-with-mark-foster-cio-of-km-co/

[Guest]

thanks for the interview Jacob. Their mutual fund isn't very good though. Underperforming peers since inception.

 

[jacobwolinsky]

Your welcome. The l/t record of the fund is good although the past 10 years havent been great. Either way (personally) I think 35 years speaks for itself.  With mf also you have to deal with investors, redemptions etc.

[jacobwolinsky]

thanks for the interview Jacob. Their mutual fund isn't very good though. Underperforming peers since inception.

 

I actually spoke to my friend who is an analyst there and the returns for the mutual fund are better. Ill get you direct link.

[Guest]

thanks Jacob. I was looking at this since inception. http://quote.morningstar.com/fund/chart.aspx?t=KMVAX&region=USA&culture=en-US

[jacobwolinsky]

thanks Jacob. I was looking at this since inception. http://quote.morningstar.com/fund/chart.aspx?t=KMVAX&region=USA&culture=en-US

 

While inception may be important, they are only underperforming vs the S&P in the 5 year number.  The mid cap blend does outperform over the 5yr and 10yr, but that is an unfair comparison as they are an all cap fund.  Holding the likes of MSFT and INTC.  2008 was a tough year, and clearly erased a lot of alpha.  Since 1975, they have outperformed, which is pretty impressive.  Their 3yr number is very good and everything under and including the 1yr number is solid.  You can continue to have your own opinion about the fund, but the story is solid and there are few funds that invest the right way. 

[Guest]

very good points, Jacob. Thanks man.  :)