Steven Romick of First Pacific Advisors Buys 3 New Stocks in Q3 Steven Romick (Trades, Portfolio), president of the $19.6 billion FPA Crescent Fund (NAS:FPACX), bought three new stocks in the third quarter, he disclosed Thursday.
The value-minded investor had more than 40% of his portfolio in cash in the end of the second quarter as markets continued their ascent.
“It remains challenging to find those investments that appropriately discount a reasonable worst case scenario,” Romick said in his second quarter letter. “Until such time as that changes, we continue to add depth and breadth to our library of prospective investments so as to be ready when opportunities arise.”
Alcoa Starts Earnings Quarter That Street Thinks May Be Ugliest in 6 Years Shares of select companies including Alcoa (AA) whose fortunes tend to rise and fall with commodities have been flogged this year. That’s because prices for everything grown or pulled from the ground have dropped steeply amid economic pullback and government action in China, weak fiscal trends in Japan and Europe, and a worldwide commodities glut that many industry analysts believe is still working its way through the pipeline.
What Divorcing Women Need To Know About Protecting Third-Party Trusts What Divorcing Women Need To Know About Protecting Third-Party Trusts
Third party trusts – such as those created for the benefit of the husband or wife by his or her grandparents or parents – can be an area of particular contention in divorce. For example: If a divorcing woman has income from a trust established by her grandfather specifically to provide for her support, health, education, and welfare, will she have to turn over some of that income to her soon to be ex-husband?
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