Top managers were finding new places to put money to work and adding to existing high-conviction ideas in the first quarter.
These top investment managers put new money to work in several wide-moat names, including United Technologies.
Our Ultimate Stock-Pickers Index continues to beat the market even as relatively few of our top managers are outperforming the S&P 500.
Top managers continue to find opportunities for some new-money purchases, while taking full advantage of a rising stock market to book gains in shares trading above their fair value estimates.
Plus lots of other stocks currently mispriced by the market.
These top managers continue to focus on higher-quality dividend-paying stocks in a market that has become more volatile of late.
Top managers continue to find opportunities for new-money purchases (albeit fewer than in past periods), while taking full advantage of a rising stock market to book some gains.
We'll be monitoring how these firms adapt to the rapid growth of ETFs and the continued risk aversion of investors.
Our top managers remain cautious, focusing more on relative valuation and increasing their willingness to book gains in the face of a rising (but potentially overvalued) market.
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