Looking for a speedy recovery

Article Abstract:

Graham Clapp has been the fund manager of Fidelity Recovery unit trust since 1989. He manages the trust by seeking shares that have strongly underperformed the market but are set to recover faster than generally expected. To find such companies he calculates his own performance figures and looks for profitability pointers. His decision to buy stock in photo-booth operator Photo-Me was influenced by the company's decision to raise the price of a strip of photos, thus increasing earnings by up to 20%. Clapp strongly believes that company managers should be assessed periodically for consistency.

Methods, Clapp, Graham

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The fund with no name but billions to invest. A US value investor has plotted a course through the UK stock market that greatly differs from UK fund managers' maps

Article Abstract:

Capital of the US, a low-profile fund manager, holds around 5 billion pounds sterling worth of the FTSE 100. It also has stakes in companies outside the UK's top 100, but although it has a major presence in the UK it sells few of its products in the UK and does not sell UK-oriented funds to its clients in the US. All its funds are split into segments, with each segment having its own fund manager, and therefore the great highs or lows associated with single-fund-manager systems are not seen.

Securities, Capital of the United States

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Wall Street's rational exuberance

Article Abstract:

UK fund managers have begun 1999 being cautious of Wall Street. The PE ratio on the S&P500 is at a record high at over 32. Earnings are in danger and there is a gap between yields on 10-year government bonds of less than one percentage point, leaving bond yields vulnerable to expected inflation rises. However, some believe that the current account deficit may be small threat to investors and not all are concerned about bond yields.

United States, Analysis, Stock-exchange, Stock exchanges

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