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Deep-value investor Richard Pzena (PZN) remains bullish on the big banks, calling their improved...
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Wednesday, February 13, 3:08 PM ETDeep-value investor Richard Pzena (PZN) remains bullish on the big banks, calling their improved situation nowhere near reflected in their share prices. Big-cap tech is also a favorite as it's now investor habit to price these top-quality, cash-flow heavy businesses at a discount to the market. He notes finance and tech makes up 55% of his portfolio vs. 32% for managers identifying themselves as large-cap value.
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I'm an average retail investor with no special talent or insights into the markets other than what I read and discern from what I read (and shame be on many, many of the so-called analysts). Even a non-functional clock is correct once each 12 hours! At the present, I'm about 40% invested long in Apple and BAC, 40% cash and 20% invested in a few great dividend stocks (Clorox, GE, MO, PM, JNJ). I've had the dividend stocks for 20 plus years and have reinvested all dividends. I'm very happy with the dividend stocks especially MO; it just keeps giving and giving (see PM, Kraft, Mdlz spinoffs), hopeful for Apple and BAC--the future looks very promising, and I feel as if my 40% cash position should be fully invested in stocks, ETFs, or a combination of both.