Fund manager Robert Olstein shares his views on value investing in an exclusive interview for CNBC PRO with Mike Santoli.
On market timing: "There has been no person, anywhere, any place with any degree of regularity who has made that projection to profit," Olstein said. "There is no such thing as timing."
Olstein founded Olstein Capital Management in 1995. He pioneered forensic analysis of corporate accounting practices and balance sheets by publishing the "Quality of Earnings Report." His firm has $900 million in assets under management, according to the manager.
The Olstein All Cap Value Fund generated 10.2 percent annualized returns since its inception in 1995 through Mar. 2017, compared with an 8.8 percent annualized return for the Russell 3000.
He also discusses:
- The importance of free cash flow.
- Why he likes General Motors, Bed Bath & Beyond.
- Passive indexing.
- Risk management.
The interview is exclusively for CNBC PRO subscribers.