Merger Fund—“It invests in companies that have been announced as takeover targets…it’s a very low-risk fund, very low volatility and correlates very little to the overall stock market,” he said.
“The manager tries to capture the final few dollars of appreciation between the time the deal is announced and the time the deal is consummated. If you do this right, you can get steady returns of 8 to 10 percent a year with relatively modest risk.”
Proctor & Gamble—“It’s a preeminent marketer of the world’s most famous brand names,” Schiffres said. “It’s a steady grower and it’s raised dividends 53 straight years. The beta is 0.6, so the stock tends to move very little with regard to the market and the stock has done very little this year.”
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Disclosures:
No immediate information was available for Schiffres or his firm.
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