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January 26, 2006
Cautious on Stocks
A few things are bugging Jim Huguet about the stock market. He's president of Great Companies LLC and runs the TransAmerica IDEX Great Companies-America fund (IGAAX), and stopped by yesterday afternoon for a visit. He worries that a lot of people are still not back in the market since the tech bubble burst in 2000. Plus, he doesn't see any reason for oil prices to reteat given the limited supply and strong demand, along with the increasing cost of drilling.
Huguet intrigues me because he spends a lot of time focusing on CEOs. This is the most important factor when he buys a stock, he says. He looks for a chief that can clearly articulate the company's strategy. Age also matters: he prefers a younger CEO, in their early 50s, to one aged 60 or older that will only spend a few years at the helm. I'll have a longer interview with him on our site in the next few days (with his top holdings, etc.), but in the meantime you can check out what he told us last summer.
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