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High Beta Large Cap Growth Stock Picks From Decatur Capital Management Yield Market Returns Way Above Relative Benchmarks
67 WALL STREET, New York - November 18, 2009 - The Wall Street Transcript has recently published its 4th Quarter 2009 TWST Large Cap Growth Report offering a timely review of the sector to serious investors and industry executives. This 38 page feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Recovering Economy -- Domestic and Global Recovery -- Increasing Dividend -- Relative Opportunity & Opportunity Cost -- Downside Protection -- Bullish on Growth -- Valuations -- Effects of Healthcare Reform -- Development of New Products -- Innovation -- Growing Earnings -- Acquisitions -- Technologies -- Quality Control -- Equity Research Capabilities -- Sustainability and Predictability of Earnings Growth -- Source of Earnings -- Canadian Banking -- Dividend Cuts -- Discretionary Stocks -- High Volatility -- Concentrated Portfolios -- Undervalued Stocks -- Demand for Steel -- Increasing Production -- Growth -- Coal Mining Operations -- Surge in Consumer Spending -- Increase in Viewership -- Unit Volume -- Foreign Income -- Tax Rate
Companies include: Abbott (ABT); Amazon (AMZN); Amgen (AMGN); Apple (AAPL); AutoZone (AZO); BHP Billiton (BHP); Bank of Montreal (BMO); Baxter (BAX); Broadcom (BRCM); CVS Caremark (CVS); Cameron International (CAM); Changyou (CYOU); China Telecom (CHA); China Unicom (CHU); Colgate-Palmolive (CL); ConocoPhillips (COP); Dell (DELL); Discovery Communications (DISCA); Emerson Electric (EMR); Express Scripts (ESRX); Genzyme (GENZ); Gilead Sciences (GILD); Goldman Sachs (GS); Google (GOOG); Guess? (GES); INVESCO (IVZ); Intel (INTC); JCPenney (JCP); Kohl's (KSS); Las Vegas Sands (LVS); Lowe's (LOW); Magna (MGA); McDonald's (MCD); Medtronic (MDT); Microsoft (MSFT); Monsanto (MON); Morgan Stanley (MS); Myriad Genetics (MYGN); National Oilwell Varco (NOV); Noble Corp (NBL); Nokia (NOK); Nuance Communications (NUAN); Palm (PALM); Peabody Energy (BTU); Petrobras (PBR); Priceline (PCLN); Procter & Gamble (PG); Qualcomm (QCOM); Ross Stores (ROST); Schlumberger (SLB); Shaw Communications (SJR); Sysco (SYY); Texas Instruments (TXN); The Gap (GPS); Thomson Reuters (TRI); Time Warner (TWX); United States Steel (X); Visa (V); Vmware (VMW); Wal-Mart (WMT).
In the following brief excerpt from just one of the in depth interviews in this Special Report, a top tier money manager discusses the market outlook for investors.
Degas A. Wright is the founding principal of Decatur Capital Management, Inc., which he started in 2000. He serves as Chief Investment Officer and portfolio manager for the firm's strategies for institutions and individuals. He has served as an officer in the United States Army. In 1991 he began his financial career as a budget analyst with the Metropolitan Atlanta Transit Authority and would eventually become Treasurer, managing over $300 million in reserve funds and serving as a member of the Authority's pension plans. During his tenure on the pension committee, he began to develop the firm's focus on integrity and performance. He left the Authority in 2000 and started Decatur Capital Management. He received his BS degree in Mathematical Science from the United States Military Academy at West Point, New York, in 1985. Mr Wright earned his MS degree from the University of Texas at El Paso, Texas. He has also obtained the Chartered Financial Analyst designation.
TWST: What high beta growth companies have you found attractive in your small cap and large cap portfolios over the last year?
Mr. Wright: One of the companies that we recently purchased is United States Steel (X) and it has a 60 month beta of 2.7. United States Steel engages in the production and sale of steel in the United States and Europe. As the economy recovers, the demand for steel will increase as production picks up in the construction, automobile, and other industries. This firm has strong recent performance and is well positioned for future growth. Its Decatur Alpha Rank is in the top 20% of firms that we monitor and it has a solid fundamental values as defined by our Decatur Score model.
Another high beta firm is Las Vegas Sands (LVS) with a 60 month beta of 4.9. Las Vegas Sands develops and manages multi-use integrated resorts around the globe. Some of the names of the resorts that Las Vegas Sands owns are The Venetian Resort Hotel Casino, The Palazzo Resort Hotel Casino, and The Sands Expo and Convention Center in Las Vegas, Nevada. Globally, the firm owns and operates the Four Seasons Hotel Macao, Cotai Strip in Macao, the People's Republic of China, Marina Bay Sands, an integrated resort in Singapore. The firm has a Decatur Alpha Rank is in the top 30% of firms that we monitor and has strong financials. Again, Las Vegas Sands will benefit as the economy recovers and consumers start to spend their discretionary dollars on vacations and travel.
TWST: Any others?
Mr. Wright: INVESCO (IVZ) is another high beta stock with a beta of 2.10. Invesco is a finance company and it is basically an independent global investment management company. The company offers a range of solutions for retail, institutional, and high net worth clients around the world. The company operates in the institutional and retail segments of the investment management industry in North America, Europe, and Asia Pacific. The firm is in the top 25% of firms for future growth and has weathered the financial stress of the past year well relatively to its competitors. They have clients in more than 100 countries. Once again, we see that INVESCO, as the economy recovers, as the market continues to do well, investors will re-enter the market and put those dollars to work. INVESCO is positioned to benefit from that re-emergence of the investor in the market.
DEGAS A. WRIGHT
Decatur Capital Management, Inc.
The Wall Street Transcript is a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs and research analysts. More of this Special Report is available via The Wall Street Transcript Online or by calling (212) 952-7433.
The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations.
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