Posts for Ticker ‘CGMFX’

Ken Heebner Endorses Goldman Sachs and Morgan Stanley (CGMFX, GS, MS)

Goldman Sachs LogoMorgan Stanley LogoKen Heebner of CGM Funds is often a guest on CNBC after the FOMC decision on rates.  His sphere of great influence has withered as the CGM Focus Fund (CGMFX) has been hammered.  Last year the fund’s price was briefly at $60.00 and now the fund is around $24.00.  But Heebner is still followed by many traders and investors and he did give two stocks he likes.  He said Goldman Sachs Group Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS) would be the beneficiaries of the consolidation of brokerage firms.

These two firms are no longer TARP firms, so they are able to pay what they want and what they feel they should to recruit talent as it comes available.  Unfortunately, there were no great revelations here today.

Jon C. Ogg

Posted on: June 24, 2009 – 1:43 pm in Brokerage Firms, Financial Stocks, Mutual Funds, , ,

Ken Heebner Bailed Out of Commodities (SLB, PBR, CGMFX)

Ken Heebner of the CGM Focus Fund (CGMFX) has made a game-changing move in his portfolio.  In a CNBC interview with Erin Burnett, Heenber was asked about his positions in two key stocks in the oil sector Schlumberger (NYSE: SLB) and Petroleo Brasileiro (NYSE: PBR), or Petrobras.  Heebner said that because of the slowing in emerging growth markets such as China and India, HE HAS CUT COMMODITY STOCKS DOWN TO UNDER 10% OF THE PORTFOLIO.  He said Schlumerger is gone and he’s hanging on to Petrobras, but is watching oil prices. This is a major change.  If you go back to his last filing, it showed how Heebner had stuck with commodities.  That was hurting him.  Based upon how the markets have been performing he hasn’t seen a reprieve from the selling pressure in whatever his new holdings were.  With the market drop yesterday, the CGM Focus Fund was down 5.5% at $42.82.  Heebner’s performance until recently has been incredible.  But the CGM Focus Fund has lost nearly one-third of its value since the end of June.

Jon C. Ogg
September 16, 2008

Posted on: September 16, 2008 – 1:58 pm in Agriculture, Commodities, Interview, Metals, Oil & Gas, , ,

Guru Investment Watch: Buffett, Icahn, Gates, Peltz, Heebner

Money_stack_picThis week was a huge week as far as getting to see what the large funds and key money managers or investment gurus were putting into their portfolios.  We compiled lists and lists of investment holdings from the great investors.  Out of these came investment holdings from Warren Buffett and Berkshire Hathaway (NYSE: BRK-A; BRK-B), Carl Icahn and Icahn Enterprises, L.P. (NYSE: IEP), Bill Gates and his Cascade investment vehicle, Nelson Peltz and Trian, and finally Ken Heebner’s CGM FOCUS FUND (CGMFX).  All of these billionaires or gurus have been broken down individually below.

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Posted on: August 16, 2008 – 6:31 am in Activist Investor, Buffett, Financial Stocks, Mutual Funds, , , , , ,

Ken Heebner & CGM Stick With Commodities (CNX, BTU, FCX, PBR, HES, SLB, WFT, X, CGMFX)

While many funds and money managers are under watch, Ken Heebner and the investments in his CGM FOCUS FUND (CGMFX) are perhaps more closely watched than any other in today’s current market.  Some may love Warren Buffett and his no non-sense approach, but Ken Heebner actually has a better track record since inception and he is known for blowing out of sectors when he feels he should or can.  In fact, you could almost think of the FOCUS FUND as being run more and more like a hedge fund with very loose guidelines on which stocks he can or can’t pick from.  The fund also noted about 14% of the total assest that were sold short, so he does make bets against sectors as well.  As of June 30, Heebner was still extremely focused on the commodity and global growth stories.

We went through to look for his positions in the Focus Fund that are worth more than $500 Million.  Keep in mind that several other positions were just shy of the mark, so the overall values and holdings are better compared down further on at the full list.  Here were his top holdings in the CGM FOCUS FUND:  CONSOL Energy Inc. (NYSE: CNX), Peabody Energy Corp. (NYSE: BTU), Freeport-McMoRan (NYSE: FCX), Petroleo Brasileiro S.A. (NYSE: PBR), Hess Corporation (NYSE: HES), Schlumberger Limited (NYSE: SLB), Weatherford International (NYSE: WFT), and United States Steel Corp. (NYSE: X).

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Posted on: August 15, 2008 – 10:19 am in Financial Stocks, Mutual Funds, , , , , , , , ,

The Best Of The Very Best Mutual Funds

Deciding which mutual funds make the best investments is especially hard because there are thousands to pick from. Some are load and some are no-load. Some do well over a year, but poorly over five years. Some do well in up markets and some do better when markets are falling.

24/7 Wall St. looked at the "Best Funds" lists of the publications that have for years devoted a tremendous amount of their editorial effort to evaluating mutual funds. We conducted a "meta-data" study to find out which funds were on more than one list. The number was very small.

Forbes, Money, Smart Money, and Kiplinger do not have much in common in the ways they measure performance. Some of the ratings are based on simple one-year returns. Others weigh in multi-year performance. Still others look at performance volatility. Some funds are measured on how they will fit into a portfolio mix to drive the best and safest long-term pay-back.

Here are the nine funds that made more than one list

Matthews China Fund (MCHFX) Designed to be a long-term China investment which keeps over two-thirds of its capital in securities from that country. On the Smart Money and Forbes lists.

CMG Focus (CGMFX)  Long-term appreciation focused and tends to invest in equities of a small number of companies at any one time. On the Forbes, Smart Money, and Kiplinger lists.

Harbor Bond International (HABDX) Invests for total return, primarily in corporate and government bonds in the US and overseas. On the Money and Kiplinger lists.

T Rowe Price Equity Income (PRFDX) Invests in well-established companies with higher than normal yields. On the Money and Kiplinger lists.

Dodge & Cox International (DODFX)  Invests for principle and income growth with 80% of assets from outside US. On both the Money and Kiplinger lists.

Fairholme Fund (FAIRX) Invests in no more that 25 equities at one time. May take positions in convertible preferred shares. On Kiplinger and Money lists.

T Rowe Price Emerging Markets Stock (PRMSX) Invests for long-term growth of capital. Eighty percent of investment in emerging markets in Asia, Latin America, and Middle East. On Kiplinger and Money lists.

Oakmark International (OAKIX) Invests in common stocks of companies in at least five countries outside the US at any one time. On Money and Kiplinger lists.

Muhlenkamp (MUHLX) Buys stock and fixed income in companies it believes are undervalued. On both Money and Kiplinger lists.

Additional fund description data from Money.

Douglas A. McIntyre

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Posted on: February 7, 2008 – 12:41 pm in Mutual Funds, , , , , , , , ,