67 WALL STREET, New York - January 31, 2014 - The Wall Street Transcript has just published its current Investing Strategies Report. This special feature contains in-depth interviews with highly experienced Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Investing Strategies - Value Investment - Dividend Reinvestment Strategy - Portfolio Managers
Companies include: The Blackstone Group (BX), Priceline.com Inc. (PCLN), Apple Inc. (AAPL), QUALCOMM Inc. (QCOM), Intuitive Surgical, Inc. (ISRG), Google Inc. (GOOG), American Express Company (AXP), Visa, Inc. (V), Mastercard Incorporated (MA), eBay Inc. (EBAY), Monsanto Co. (MON) and many others.
In the following excerpt from the Investing Strategies Report, an experienced portfolio manager discusses his investment methodology and top picks for 2014:
TWST: Could you please give an overview of RiverPark Large Cap and a view to the fund's focus insofar as asset allocation?
Mr. Rubin: RiverPark Large Growth Fund is a traditional large-cap equity fund. We focus on growth stocks, but an important differentiation is that we have a very strong value orientation. So we like to think of it as the best of the traditional standards of investing in growth and value - we try to incorporate the best of both into one fund, as typical growth funds are often not valuation-sensitive, and typical value funds often do not invest in or benefit from long-term growth.
We generally own 40 to 60 stocks, with our high-conviction top 10 holdings, which we have generally owned for many years, typically more than 30% of the fund. We focus on U.S.-listed and domiciled companies so that they are in accord with U.S. GAAP, in order that we can have confidence in their financials. However, we have a good deal of international exposure, because as a growth fund a lot of our portfolio companies' growth comes from international markets. So while the portfolio is a U.S.-focused portfolio, the growth and the themes in the fund are very much global.
TWST: What percentage of the companies in your top holdings have global reach?
Mr. Rubin: Of our top 10 positions, all but one, Realogy (RLGY), have significant global reach. Across the portfolio, more than 80% of the companies in our fund have global reach, and more than 50% of the long-term growth of these companies is coming from global themes.
TWST: Please share some highlights from your own background and career.
Mr. Rubin: I began my career as a lawyer, but have been an investor for nearly 20 years. I received an economics degree from the University of Michigan and then a J.D. from Harvard Law School. I had three big takeaways from law school. I met and fell in love with my wife; I played basketball with the future President of the United States; and I really learned how to analyze an issue from all sides. It was later during my practice of law in New York - no one in my family was in the investment business - that I fell in love with investing.
Most of the companies we represented were either large investment banks or large multinational businesses doing corporate transactions...
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.