Contrarian fund manager Nick Schommer is up a blistering 36.6% this year with big bets on Crown Holdings and Disney, among other stocks.
"We're looking to invest in durable businesses which are trading at a significant discount to what we think their fair value is," said Schommer. "We want that intrinsic value as a business to grow over time and we want management teams that are aligned with us as shareholders."
Schommer made another contrarian bet earlier this year that has panned out well: Disney. The position, which makes up nearly 3% of the overall portfolio, was first added late March, when the stock was trading near its 2019 lows. Since then, the stock is up about 33% and recently hit an all-time high.
All of that changed in April when Disney unveiled its video-streaming platform Disney+, which got more than 10 million sign-ups after launching on Tuesday. Disney also completed earlier this year its acquisition of Fox's entertainment assets. "Because the core of the portfolio focuses on these misunderstood business models, they're very idiosyncratic ideas and it's also where execution drives performance, so we're not dependent on the macro to drive performance," he said.is one investment that has not panned out for Schommer thus far. The stock, which is the fund's second-largest holding behind Crown, is down more than 17% since it was bought in late September 2017.
Young also pointed out the market's run-up this year "does play in the fund's favor" despite its contrarian bent.last year amid a massive sell-off in the fourth quarter. A reversal in U.S. monetary policy by the Federal Reserve, coupled with improving tone around U.S.-China trade relations, has lifted the broader market to record levels this year.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Iraq's young protesters: 'We're not leaving, even if this lasts 40 years'Wearing surgical masks, motorcycle helmets and clothes stained with blood and gr...
Weiterlesen »
The 40 Best Gifts For Kids and Toddlers Who Love MusicFor many children, a love of music starts at a young age and grows with them. Encourage this budding interest and help them hone their already-developing
Weiterlesen »
The 40-day GM strike cost the automaker nearly $3 billion — and BAML says Fiat Chrysler is most at risk of a future walkoutA union strike at Fiat would 'materially increase costs' and could 'shrink FCA's labor advantage' over Ford and GM, the analysts wrote.
Weiterlesen »
Quick! Save 40 percent on this Ninja blender systemIf you are a major smoothie lover or are just looking to upgrade your old standby, this top notch blender might be just the model for you.
Weiterlesen »
Watergate prosecutor shreds GOP 'hearsay' argument, says he's jailed people for 30-40 years based on similar testimonyNick Akerman has rejected the GOP's argument that the impeachment accusations against President Trump were \n'hearsay'\u2014he's jailed people for similar witness testimony.
Weiterlesen »