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Steve began using Marketocracy in May of 2003 with one fund, AVAL, which he calls his Value Focus Fund. This was his only portfolio that he managed at Marketocracy and has consistently built its track record since inception using his value focused approach. He may invest in any sector but most of his gains, as shown by Marketocracy performance zones, has occurred in the energy, material, and areas of the financial sector where his background in engineering is most useful in analyzing these businesses.
Steve selects companies that are often out of favor and sometimes are not well known as long as the future fundamentals are sound. This leads him to a lot of turn around situations or entire sectors that are in a cyclical downturn. He believes in buying stocks for what they really are, which is a percentage of ownership in a company. He also likes to use seasonality(i.e. times of reoccurring strength or weakness among individual equities) to time his buys and sells on individual stocks that tend to follow seasonal patterns.
According to William Harding, an analyst at Morningstar, the average turnover ratio for managed domestic stock funds is 130%. Steve usually keeps his turnover ratio much lower than this as his investment style sometime requires that he hold individual stocks for more than one or two years to allow them to recover to where they are fairly valued.
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|(aval) Value Focus Fund|
|MODEL INCEPTION (05/19/2003)||AVG. ANNUAL RETURN||S&P TOTAL RETURN||Actions|
|18+ YRS (As of: 07/02/2020)||12.62%||9.59%||View Fund Stats|
|RETURN PERIOD (As Of: 06/30/2020)||AVG. ANNUAL RETURN||S&P TOTAL RETURN||ACHIEVEMENTS|
|Show Fund Strategy|
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