David Dreman
- Kirk
- Happy
- Kirk
- SteveT
- Kirk
- 2win
- Kirk
- 2win
- Kirk
- 2win
This archived discussion is "read only".
For the corresponding "live" discussions, post in the active topic forum here.
« Previous 1 2 3 4 Next »
» Kirk - Re: Re: Top Fund for past year
In response to message posted by Happy:Interesting point Norm. If you look up what it means... http://quicktake.morningstar.com/DataDef...
It says capital gains are not accounted for so if you were to liquidate BOTH holdings after 10 years, there would be some advantage back to his fund that is not shown. I wonder how much that would be?
My belief is you want managed funds ONLY in your IRA of tax free compounding BUT if you are in a high bracket when you make the investment and can't deduct the IRA, they you are probably better off with the S&P outside the IRA as you then get the long term cap gains rate when you liquidate vs normal income tax rate.
Anyway, for anyone to beat the S&P500 by ANY amount over 10 years is impressive. To do it by 2.74% is just plain incredible.
-- posted by Kirk
» Happy - Re; Tax efficiency
In response to message posted by Kirk:Kirk, it is only the capital gains that would occur at selling after 10 years that is not included. Capital gains dividends along the way are considered as taxed at the time they are issued.
Here is the quote:
"...excluding any capital-gains effects that would result from selling the fund at the end of the period."
Therefore, there would be no advantage at selling this fund over selling the sp500 at the end of ten years.
-- posted by Happy
» Kirk - CNBC Appearance 4/23/01
David says valuations still too high, especially in most tech.IF NASDAQ comes back down he likes:
MOT at $11
TXN and Intel (added these when they were down)
Likes HWP, AAPL, INTC today
Expects S&P earnings to be flat for next 12 months and expects value to be up 10%.
Likes FannieMae and FreddieMac (not sure about spelling).
-- posted by Kirk
» SteveT - One on One with Paul Kangas
http://www.nightlybusiness.org/news_acti...Last Night David Dreman was on NBR
05/01/01: One On One With David Dreman Kemper-Dreman High Return Equity Fund
PAUL KANGAS: Investors in mutual funds are probably counting their blessings if they didn't lose too much over the past year. But one fund that's coming off one of its best years ever is the Kemper-Dreman High Return Equity Fund. It's up only 3 percent since this January, but Kemper-Dreman is actually 51 percent higher than it was a year ago, and its 5-year record shows an annualized return of 17 1/2 percent. The man at the helm of Kemper-Dreman High Return Equity Fund is David Dreman and he joins us now from our New York bureau. David, welcome to "NIGHTLY BUSINESS REPORT".
DAVID DREMAN, KEMPER-DREMAN HIGH RETURN EQUITY FUND: Thank you for having me Paul.
KANGAS: You are described as a pioneer of the philosophy of contrarian investing and at the same time you focus on large cap value stocks. Does that mean you're buying the blue chips when everybody else is selling them?
DREMAN: Pretty much, Paul. What we do is buy stocks that are temporarily out of favor that have good finances and that are cheap by price earnings ratios, price to book and other fundamentals like those.
KANGAS: Well, now your portfolio of stocks is pretty eclectic, with a combination of everything from financials and consumer staples all the to health care and technology. What is it they have in common, a low price earnings ratio, something like that?
DREMAN: Well, low price earnings ratios is one thing, and they all pay higherthan market dividends. The portfolio yields about 100 percent more than the S&P. And thirdly, we're able to get a lot of companies with pretty good growth rates at this point in time.
KANGAS: What stocks have, would you buy that are attractive to you right now that you don't already own?
DREMAN: Well, I think stocks like Freddie Mac (FRE) and Fannie Mae (FNM) have 15 percent growth rates and actually had them for two or three decades and they're good buys. Some of the oils are, although the market's run up pretty well in the last while, are trading at 10 times earnings, which is very, very cheap. It's about 40 percent of the S&P.
KANGAS: Well, you know David, there are some value investors like Warren Buffett who, they buy stocks with the goal of holding it forever. But as a mutual fund manager you've got to sell from time to time. What are you selling now?
DREMAN: Right now we're selling some of the oil service companies, which we bought quite a bit earlier. And we had a good position in health care, and we're starting to sell some of that because it's also had a very sharp run up.
KANGAS: You know, a lot of people feel that tech stocks have hit bottom. Do you feel that this rally is real?
DREMAN: Well, I think the tech rally is to me dubious. I think it might just be a temporary rally in a longer term bear market. So we're more guarded there. But some of the blue chip tech stocks have broken pretty badly, and at the right price we buy them.
KANGAS: All right. David, thanks very much for being with us.
DREMAN: Thank you, Paul.
KANGAS: My guest, David Dreman, lead portfolio manager of the Kemper-Dreman High Return Equity Fund.
-- posted by SteveT
» Kirk - 5/24/01 Update given on CNBC
Says take profits if NASDAQ goes to 2500Oil and Gas still attractive
Likes Fannie Mae, Freddie Mac, MO, BAC, and other under valued stocks (even after the run in MO!!!???)
Thinks the bottom is in, but fundamentals don't justify the prices and optimismn in tech now.
(of course, he has been waiting for them to hit his prices and he has some HWP at $33... and it went to $26 after he bought...)
-- posted by Kirk
» Kirk - Re: Re: Top Fund for past year
In response to message posted by 2win:If you buy and hold for three years or more, like I did, the 5.5% sales fee is waived. LOL, Dave J.
Interesting. I wonder why they do not say this on their web page? Perhaps they want you to buy class B or C shares and pay through the nose?
BTW, Kemper/Dreman is now part of Scudder!
Here is a URL: http://www.scudder.com/t/index.jhtml?con...
As of 4/30/01, the "Kemper-Dreman High Return Equity Fund" was up 51.37%! WOW!
http://www.scudder.com/t/index.jhtml?con...
Always good to try to make a deal. Thanks for pointing that out.
-- posted by Kirk
» 2win - Re: Re: Re: Top Fund for past year
In response to message posted by Kirk:I should point out that my inital investment in the Kemper-Dreman High Return Equity Fund was in 1989. My financial advisor was the one who pointed out the option of buying and holding for 3+ years in order to avoid the 5.5% load. I don't really know if the policy is still in effect, especially in view of the Kemper/Scudder merger.
-- posted by 2win
» Kirk - Re High Return Equity Fund
In response to message posted by 2win:1989! Wow, you got in nearly at the start. How did you learn of David Dreman back then and what made you decide to buy?
The fund has a 17.48% annual return since inception 3/18/88
IF you put $10,000 for 13 years at 17.48% you get $81,195! A bit over 8x gains in 13 years! Incredible for value investing, eh? 8)
-- posted by Kirk
» 2win - Re: Re High Return Equity Fund
In response to message posted by Kirk:I wish it had happened like that! Actually, after thinking about it, I realized my first investment in Dreman's fund was in 1996. The 1989 date was when I first opened an account with Kemper Funds.
Dave J.
-- posted by 2win
« Previous 1 2 3 4 Next »
Please follow the guidelines set forth in the Suite101 Posting Etiquette when adding to the discussion.