Bloomberg takes a look at how Chuck Akre altered his approach after his fund saw a 34 percent decline in 2008.

Chuck Akre Akre Capital Management founder

For more than 10 years, Akre chose stocks based on price and for the most part did not take into account what went on in the econonmy and government. That was then.

"It's not clear how our economic and political situation will unfold so you have to bear more things in mind today," the 67-year-old PM said. “We need to do a better job of integrating our world view than we have in the past."

It's been a year since Akre left FBR Funds and put up his own Akre Focus Fund [see profile] . He moved on after he was asked to take in a cut in fees, Akre said. The $233 million Akre Focus Fund is up 11 percent this year through October 14.

The article, about "bottom-up" stockpickers who can no longer ignore the bigger picture, also includes quotes from Hedgers Lee Ainslie, managing partner at Maverick Capital Management LLC, and David Einhorn, the hedge-fund manager known for shorting Lehman Brothers Holdings Inc. were mentioned in the article along with Keith Goddard, president of Tulsa, Oklahoma-based Capital Advisors Inc..

Also quoted are Legg Mason Inc.'s Bill Miller, David Herro, who manages the $5.8 billion Oakmark International Fund, Robert Rodriguez, who managed the $1.1 billion FPA Capital Fund, and Thomas Russo, who helps manage $3 billion at Lancaster, Pennsylvania-based Gardner Russo & Gardner.  

Edited by: Hung Tran


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