With an increasing share of a rising market, Zalando could realize growth of up to 25% annually over the next several years. As well, its Macintosh computer continues to gain market share. Among the trends he hopes to capitalize on are the move to smart phones instead of regular cellphones, hence Apple, and the rollout of 3G wireless technology in China, reflected in Zte Corp. If you would like to write a letter to the editor, please forward it to. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments. Readers can also interact with The Globe on and. We aim to create a safe and valuable space for discussion and debate.
He brings unparalleled market insight and skill to the job, backed by a disciplined and proven investment method. Who: Noah Blackstein, vice-president, Dynamic Funds, and portfolio manager of the Dynamic Power Global Growth Class fund. Using a strict bottom-up approach he creates a portfolio of the fastest growing companies. When It Works Best A pure growth strategy works best when stock markets are booming, investors confident and the economy strong. To qualify, companies must have a history of profitable growth. That means lots of opportunities to boost per-store sales in a country with an aging population and relatively low spending on pharma, health and beauty.
Under Blackstein's leadership since its inception in 2001, the fund's returns have averaged more than 8% a year. There's a good reason the name of one of the funds Noah Blackstein manages contains an abundance of words that evoke aggressive movement. It also works well when companies in the portfolio are at the forefront of big shifts in technology or changing consumer preferences. Blackstein's top holding, thanks mainly to its remarkably successful iPhone. Since then, he has established himself as a successful U. It is a high-stakes strategy that often leads to high turnover, but Blackstein embraces the volatility that comes with it.
But over time, growth has been solid. The portfolio is concentrated in 20 to 25 companies, mostly in the high tech industry in the United States and China. Blackstein's Top Stocks Alibaba Group Holding Ltd. As well as Apple and Zte, the fund holds AsiaInfo Holdings Inc. Blackstein weeds out companies riding a one-time boost, like a big acquistion or a higher commodity price, as well as those bouncing back from a dismal year.
Blackstein said in an interview. This is a space where subscribers can engage with each other and Globe staff. . The Dynamic Power Global Growth fund is only interested in the fastest-growing companies in the world and—more importantly—those that can maintain a torrid pace. The stock helped juice his fund's returns for several years. In 2007, it was up 45 per cent and was voted the best global equity fund for one, three and five years at the 2008 Lipper mutual fund awards. If that happens, high-flying growth stocks could suffer even more than the broader market.
This should only take a few moments. What Could Go Wrong The stock market could collapse again because of a weak economy, shooting down stock prices, Mr. Non-subscribers can read and sort comments but will not be able to engage with them in any way. If you would like to, you can find out more about cookies and managing them at any time. There's also room to grow geographically. He adopts a growth and momentum investment style, following the principle that earnings growth equals stock price performance.
Alongside his mutual funds, Noah manages two hedge funds — Dynamic Alpha Performance Fund, a conservatively managed hedge fund designed to protect capital wealth, and Dynamic Global Growth Opportunities Fund, which is managed with the goal of delivering superior long-term equity or equity-related returns. You can continue to use the website and we'll assume that you are happy to receive cookies. Blackstein could back the wrong horse, a possibility in a fairly concentrated portfolio. The Strategy Scour the globe for companies whose revenue and profit are likely to grow significantly - at least in the high teens - over the next three to five years. Over the past five calendar years, the fund's annual returns have ranged from a 12% loss last year to a 41% increase in 2013.
For the full 2008 year, the fund was down 47 per cent. For the year to Nov. He thought that Google's opportunities in online advertising were far greater than what the market was forecasting. And it is building an e-commerce platform that could see it narrow the gap between itself and U. This is a space where subscribers can engage with each other and Globe staff. The fund often contains as few as 20 names, compared with the 80 to 100 stocks found in many global funds, and its performance can swing wildly. The company also keeps learning more about its customers.
Blackstein's approach is strictly bottom up; he invests in companies that offer the best hope for strong growth, rather than focusing on any particular country or region. Starting with all the investible stocks everywhere in the world, Blackstein looks for those with the strongest chances of achieving double-digit growth on both the top and bottom lines. Noah started at Dynamic in 1997 when he became a founding member of the Growth team. . . .