One of our best clients forwarded this to me. I thought this was interesting since Apache is is our largest holding at Sax Angle Partners, LP.. Although we lightened up it on Friday, it still remains our largest holding. I don’t believe the market will correct significantly either. I’m glad Barron’s publishes a track record. That’s the first thing I look at. I’m not in the habit of taking advice from someone who is doing worse than me and our track record is more than twice better. Nonetheless, it’s nice to hear successful market participants agreeing with you. None the less, iff Apache bounces on Monday, we will lighten up a bit more.
Why a Pro Likes Apache, Southwest, and Kohl’s
By LAWRENCE C. STRAUSS | MORE ARTICLES BY AUTHOR
T. Rowe Price’s John D. Linehan expects a correction, followed by another rally. Why he likes Apache, Southwest Airlines, and Kohl’s.
True, stocks have had a very good run this year, as evidenced by the S&P 500’s 18% gain. But a wall of worry lingers, fortified by geopolitics, partisan gridlock in Washington, and other concerns. For perspective on the U.S. stock market, Barron’s spoke recently with John D. Linehan, 48, who is in charge of T. Rowe Price’s equity division. The money manager started at Baltimore-based T. Rowe (ticker: TROW) in 1998, after working as a mortgage-backed securities trader and an oil-industry executive. Although he wouldn’t be surprised to see stocks sell off in the near future, maybe by as much as 20%, he’s bullish longer-term. Linehan—who co-manages the T. Rowe Price Institutional Large Cap Value fund (TILCX) together with Mark Finn and Brian Rogers—practices what he preaches. Since its inception in March 2000, the fund has returned 7.50% annually, versus 2.83% for the S&P 500 and 5.69% for the Russell 1000 Value Index.
via Wary on Stocks Short-Term, Bullish Long-Term – Barrons.com.