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Glamorous returns on less-than-glamorous investments
© St. Petersburg Times, Largo money manager Gerald Perritt is among those enjoying what might be called "the revenge of the value investors." After years of lagging far behind hot growth stocks, value stocks have risen to the top. Perritt's Micro Cap Opportunities Fund returned a stellar 33.8 percent for the first half of the year. That was eighth best among U.S. stock funds, according to the numbers-crunchers at Lipper. Although the results are glamorous, the stocks that produced them are not. Perritt's big winners included a tire distributor (TBC Corp.), a drug testing company (SFC Corp.), a cheese manufacturer (Suprema Specialties Inc.) and a pasta producer (Monterey Pasta Co.). "This is pretty mundane stuff," Perritt acknowledged. "It's refreshing." The fund is still tiny, about $15-million in assets, but Perritt said the performance is bringing a bit more attention. Most of the other big winners during the first half also were value funds, which seek stocks that are selling at bargain prices, along with a few funds specializing in Russia and China. Perritt predicts that investors waiting for tech stocks to come back will have a long wait, probably four to five years.
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From the Times Business report
From the AP
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