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Guru focused: robert olstein?s short sells - investing

 

While it is instead rare that value gurus sell stocks short, Robert Olstein has been promotion short in his Economic Alert Fund. The accountant-turned fund administrator spots principles by looking at the back the numbers. In the back area of 2004, Robert Olstein sold short American Italian Pasta Co. (PLB) at $31. After about 6 months he roofed at $20, by far made more than $1 million for his fund. Presently he is shorting two stocks: Mainframe Sciences Corp (CSC) and Fleetwood Enterprises Inc (FLE), though effects do not at all times go that smoothly.

Robert Olstein is emphatically one of the best money managers (that is why he is in GuruFocus's Hall of Fame). The policy of looking after the facts has brought his fund a 15. 5% arithmetic mean once a year benefit over 10 years after all fees. Its only down year was 2002, off 19%. In 2000, the year the tech bubble burst, the fund was up 12%, and in 2001, up 17%.

Robert Olstein happening shorting Central processing unit Sciences Corp (CSC) in the first accommodate of 2004 at an be an average of price of $41. He said that the accounting of CSC is not in concurrence with its efficient reality, CSC is worth about $30. The price of CSC did not go down, however. He then shorted more shares. But the price of CSC went up, by the fourth cut up of 2004, the price of CSC was $56. It came down some in the first billet of 2005, Robert Olstein was convinced a sufficient amount to short more shares again. As of the end of the first quarter, his shorting arrange in CSC totaled 504,500 shares with an be an average of price of $42. As of this writing, the price of CSC is $46. 4.

The other short promotion of Robert Olstein is Fleetwood Enterprises Inc (FLE). He thinks that Fleetwood Enterprises Inc is worth about $5-6 per share. He sold short 1,195,500 shares of FLE at about $9. 2 per share in the first cut up of 2005. Right now Fleetwood has a price of $9. 5 per share.

Interestingly, a further approvingly respected value manager, GuruFocus guru, Robert Rodriguez, does not agree with his value peer Olstein. In the fourth area of 2004, Rodriguez added 269,500 shares of FLE to his assets at about $14 per share. As the share price dropped to $9, he added 2,261,900 more shares, which makes his total asset of Fleetwood to 3,714,400 shares.

Who is right, Robert vs. Robert?

Dr. Charlie Tian is the Chief of Examination of GuruFocus. com, a website tracks the stock picks and marketplace insight of guru investors such as Burrow Buffett, George Soros etc.


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