Active Investing Showing Signs of Life

Active managers have been struggling and stock hedge funds have seen a nearly eight-year performance slump, but a shift could be in the offing according to an article in last Friday’s Wall Street Journal. The article offers data from Bank of America Merrill Lynch showing that 58% of active stock managers beat their benchmarks in the third quarter and explains, “stock pickers say it is only a matter of time before they again ride high.… Read More

Lazlo Birinyi—a Bull or a Bear?

Before Lazlo Birinyi opened his Westport, Connecticut research and asset-management firm in 1989, he honed his skills at Salomon Brothers on a trading desk run by Michael Bloomberg. Today, he manages $325 million, mostly for high net worth clients. Since 2009, he has returned an average of 12.4% per year (versus 16.9% for the S&P 500). Mr. Birinyi shared some thoughts on the market during a recent interview with Barron’s: Is he perpetually bullish? He… Read More