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Plucking Flowers From the Wall

机译:从墙上摘花

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John keeley, manager of the $170 million Keeley Small Cap Value Fund, likes being a value guy: "You probably make fewer mistakes than you do in the growth area," he muses. "There are fewer moving parts." Here's how Keeley, 64, keeps it simple. First, he largely ignores technology and health care stocks. Second, he limits his buying to five kinds of companies: those coming out of bankruptcy, those looking very cheap relative to book value (excess of assets over liabilities), spunoff subsidiaries, utilities, and converted thrifts and mutual insurance companies. These days Keeley's fund, a Forbes Honor Roll member (see Sept. 20) holds 114 stocks. Not quite half fall into the spinoff category.
机译:1.7亿美元的Keeley小盘价值基金的经理约翰·基利(John Keeley)喜欢做个有价值的人:“您可能犯下的错误比在增长领域要少,”他沉思。 “运动部件更少。” 64岁的Keeley保持简单。首先,他在很大程度上忽略了技术和医疗保健股。其次,他将购买的股票限制在五种公司中:那些破产的公司,相对于账面价值看上去很便宜的资产(资产超过负债),分拆的子公司,公用事业以及旧货转换公司和相互保险公司。如今,吉利的基金是《福布斯》荣誉榜成员(见9月20日),持有114只股票。属于衍生产品类别的人不足一半。

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