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Today's Market News: Hot Stocks in Cold Economy

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    Portfolio manager picks stocks, defends mutual funds

  • Duration 3:49
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More about what's going on in this market Russell croft is with -- right now portfolio manager of the croft value -- welcome sir thanks.

As a value -- you're clearly out there looking for value wouldn't argue the markets on celebrate now now.

Yeah I think you can argue that I think that some of the things you're talking about worries in Europe where he's political stagnation here are definitely real worries but.

Fundamentally we think stocks are are pretty cheap and we think there's a lot of good value out there right now.

You -- into your picks me ask you to defend your funds a lot of people.

Take issue with the mutual fund world right that it's very hard for.

Managers actually beat the overall market and am I paying a big fee for nothing -- -- pretty stand on on that.

Well the way we think about is that we are -- -- iPhone or long term investors would like to buy stocks and hold on 35 years maybe longer.

And for our track record of funds start back you know in the mid ninety's -- we've made good money for our shareholders over time so.

You know we talked to a lot of investors should educate them to stick to their plan have a plan bonds stocks -- and stick to in tough times and a good times.

You know and if he's if you've been with us over time you know it's been a good place to make to make money.

What's the minimum investments -- -- 2000 dollars 2000 dollars and the ticker is C.

LV as in victor -- -- next lesson chase CL VF's an anti okay.

Let's not just talk market big picture should we we were just -- before the show started that this slowed dismal little blip on the -- -- welcoming.

Yes break from the violent swings we've been having -- you think they're done.

They're not long gone -- then I I wish you could say debt and are long gone.

But they're probably not I think we're now more volatile world today well I can't put my finger tell you exactly well -- because of high frequency trading are.

Instantaneous and instantaneous information at our fingertips all the time but.

As fundamental value investors we tried you know reduce the noise and stick with fundamentals.

So when stocks maybe get beat up too bad.

And maybe a little painful short term bottom but a real long term we think you can find good companies.

Thank you instant each of those flows and world's second largest home improvement retailer they and then numbers were not pretty whereas some -- post where -- times like these guys look a lot.

They didn't certainly India has to.

-- they have great man because doing it a little better job but you know lose that twelve times 2012 earnings with you know decent dividend.

It's cheaper than -- neat -- and if a Home Depot is well that -- lose their balance sheet is so powerful they announced at the end of November 2010.

They're -- buy -- about three have a million dollars in stock a year over the next to 2015 that's about half of the market the whole company to my and they're also more internally focused with Tum the growth and a good job on.

So I think you know -- should seeing better numbers for flows going for.

You -- -- -- -- I think it's -- six they have this takes or this to him I'd prefer Lowe's over Home Depot but I only go in and buy like you know a marker.

I don't actually buy tools Johnson & Johnson I just can't go wrong with that three point 6% dividend yield but I wanted to come.

Didn't talk about MetLife -- insurance companies aren't we in an.

-- -- that life is you know financials and -- a tough place to be but you know Mets trading about six times 2012 earnings and I think.

You know those numbers might come down a little bit with the stock market being down but we think you know -- -- -- -- -- book value and they just thought.

Alito or Alec I can't stay AIG life -- -- -- it's at triple their international sales.

And we just -- -- one of these quality companies trading at a big discount and you know as a financial I think it's a good one to pick to -- -- here and you know put your portfolio for a long time.

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