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.'
John Coumarianos: I think the influence of Graham and Briloff has led you to a lot of smaller companies with very simple accounting. And I love the fact that your number-one holding, National Presto, is actually mentioned by Graham in "The Intelligent Investor." Give us the thesis for that, and maybe tell us how it exemplifies your approach.
Charles Dreifus: Well, National Presto was, indeed, mentioned by Graham. I've been running public mutual funds since May of 1980, and I believe one of my first holdings in my first mutual fund was also National Presto. I've owned it probably most of my career, but have sold it at times. Its stock has given me opportunities, as many stocks do, where they rise and then they fall, and if you are familiar with it and you know the business...
John Coumarianos has a position in the following securities mentioned above: RYSEX, NPK. Find out about Morningstar’s editorial policies.