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Bob Rodriguez : Bear-Bull Hybrid Is Beating the Market
Submitted by admin on Tue, 06/26/2007 - 09:19
Bob Rodriguez - veteran value manager at First Pacific Advisers' FPA Capital (FPPTX) came into the year as a growling grizzly bear, braced for a slump and holding more than 40% in cash. So you'd expect him to be trailing badly as Wall Street has boomed instead.
The reality? He's whacking the cover off the ball. With one week left of the first half, the market -- as measured by the Standard & Poor's 500 index -- is up 6.2%. Bob Rodriguez: 14.2%. Even while keeping nearly half his fund in cash. That's like beating Wall Street with one hand tied behind his back.
One word: energy. Rodriguez boldly held on to his big energy holdings during the sector rout last autumn. That cost him a market-beating performance in 2006. But they've come good since, in spectacular style.
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