Forget about quick moves trend hopping -- Bill Frels
and Mark Henneman
are all about patience.
The two St. Paul, Minnesota-based PMs of the Mairs & Power
Growth Fund [profile
] have held nearly all of their top 25 stocks for at least a decade, according to a story in the LA Times quarterly mutual fund report
Even the types of companies the two invest in are decidedly old-school -- including the manufacturer of that delightful canned delicacy, SPAM.
Reporter Stuart Pfeifer notes that the two had a 21-percent gain last year, far outpacing the S&P 500 and earning them the title
domestic stock fund PMs of the year,
Henneman described the strategy thusly:
We're long-term investors. Every mutual fund manager says that, but we really stick to it. When we buy a stock, we're buying a company we expect to be invested in for a long period of time.
For more on the dynamic duo, check out the original article
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