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FPA's Rodriguez Keeps His Powder Dry And Outperforms In Sell-Off
Submitted by admin on Thu, 04/03/2008 - 10:09
Few things seem to slow down amateur race-car driver and First Pacific Advisors CEO Robert Rodriguez. Over the 10 years ended March 31, his FPA Capital Fund ranked No. 9 among small-cap value portfolios tracked by Morningstar. It ranked No. 2 so far this year going into Wednesday.
The market during the first quarter was often geared to value-oriented bargain hunters like Rodriguez. But in December, Rodriguez, 59, slammed the brakes on stock buys for FPA Capital. He put a similar halt on high-yield buys for its $2 billion New Income FPNIX stable mate. Both freezes are still in place.
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