Comments from US Mid-Cap Growth Fund manager at the Mackenzie conference

Here are some remarks from the manager of the Universal American Growth Fund that I wrote down as he spoke at the November 2012 Due Diligence conference.

• Protection is earned by owning companies that produce real value.
• The basic threat investors face is that money in treasury bills is losing money after inflation.
• We are modeling companies using tough assumptions.
• The United States is the only country that was founded on an idea – that men are free.  That idea still provides an advantage to the U.S.
• We seek companies whose growth is decoupled from the broad economy and who produce real value and get paid for that value regardless of currency.
• There is a great opportunity in emerging markets for U.S. companies in areas that few others service or products that few others can make.
• Study the people who run the business – numbers don’t catch everything.
• Looking for companies that can earn a 20% return and can be held for three to seven years.
• We live and breathe the job, constantly asking questions, inquiring.