The market is turning -- and Andrew Peck is in stocks for the long haul. The portfolio manager for the Baron Asset Fund thinks it might be a mistake to try and play stocks by constant, rapid buying and selling.
Instead, Peck says his fund holds stocks for an average of five years, versus the "typical mutual fund" pattern of six months -- an annual turnover of 18 to 19 percent, versus 100 percent.
Ther fund's current top five holdings are
- Charles Schwab
- XTO Energy
- Vail Resorts
- Wynn Resorts
- Chicago Merc
Peck justifies the consumer/leisure names with his belief that oil prices "will be held in check, at least for a while," thanks to alterations in "Americans' behavior."
Disclosure information was not available for Peck or his firm.