Brown Brothers Harrison PM G. Scott Clemons made the pages of The Wall Street Journal
for the most prosaic of reasons. He is among a group of equity pickers who is inclined to sit the current market out.
Clemons, who PMs the BBH Core Select Fund
"We're growing increasingly cautious after the kind of rally that we've had," says G. Scott Clemons, who helps oversee $18 billion as the chief investment strategist for Brown Brothers Harriman in New York. The "market has gotten ahead of itself."
Clemons is up 18.4 percent this year in the fund and is "leading clients to take some profits from their winning stocks. At the same time, he is letting the cash from those sales and dividends accumulate as dry powder for now."
The rest of the article
explains that many money managers who caught the year's rally are sitting on percentage gains on their equity holdings that run well into the double-digits and now they look ahead with worry at what could end being a choppy few months.
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