Skip to main content
MENU
Subscribe
  • Subscribe
  • Account
  • LOGIN
  • Topics
    • Alternatives
    • Consultants
    • Coronavirus
    • Courts
    • Defined Contribution
    • ESG
    • ETFs
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Opinion
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Russia-Ukraine War
    • SECURE Act 2.0
    • Special Reports
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • Climate Change: The Inescapable Opportunity
    • Impact Investing
    • 2022 ESG Investing Conference
    • ESG Rated ETFs
  • Defined Contribution
    • Latest DC News
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2022 Defined Contribution East Conference
    • 2022 DC Investment Lineup Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Performance Data
    • P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
    • Future of Investments Research Series
    • Charts & Infographics
    • Polls
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
    • 2022 Retirement Income Conference
    • 2022 Managing Pension Risk & Liabilities
    • 2022 WorldPensionSummit
Breadcrumb
  1. Home
  2. Print
December 28, 1998 12:00 AM

SNEAK PEEK AT '99 RESOLUTIONS

Phyllis Feinberg
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    "Introduce new valuation ratio for Internet sector: price-to-fantasy." - Kevin M. Johnson, partner and director of research, Aronson + Partners

    "Never sell short a stock with no capital letters in its name." - Martha E. Ortiz, partner and director of trading, Aronson + Partners

    Those Internet-inspired New Year's resolutions from employees of Aronson + Partners, Philadelphia, came about because "whatever rules there have been about buying stocks have gone out the window for Internet stocks," said their boss, Theodore R. Aronson.

    The firm manages about $2 billion in a long-short strategy and is "long a lot of stocks and short a lot of stocks," said Mr. Aronson.

    The 1999 New Year's resolutions of money managers, pension fund executives and investment advisers cover a wide range of subjects, some serious and some not so serious.

    Scott Lummer, chief investment officer of 401k Forum Inc., San Francisco, has resolved to keep closer tabs on Alan Greenspan and the Federal Reserve Board. It seems that two of the Fed's 1998 interest rate cuts coincided with speeches Mr. Lummer was giving before industry groups. The first time, the Fed cut interest rates just three minutes before his speech began. The second time, the cut occurred during his speech.

    "I was sandbagged (after the speeches) by questions from people in the audience who had somehow heard about the cuts," he said.

    Seth Glickenhaus, chief investment officer of Glickenhaus & Co., New York, says he's been consorting with the devil. He resolves to take any advantage this gives him in business "to be more selective in finding cheaper stocks for my clients and do more trading" in order to buy on weakness.

    William F. Quinn, president of AMR Investment Services, Fort Worth, Texas, which oversees American Airline's $11 billion in pension assets, says his resolution is to make the company's $2.8 billion 401(k) plan "more user friendly for participants."

    To do this, AMR is adding more investment options, including three pre-mixed lifestyle funds and three new mutual funds - a Standard & Poor's 500 index fund, a small-cap equity fund and an intermediate-term bond fund. The fund also is going to a daily valuation, which will help participants keep closer tabs on their money.

    Tom Schlossberg, president of Diversified Investment Advisors, Purchase, N.Y., expects 1999 to be "a difficult year" for the stock market. So his resolution is to provide 401(k) plan clients with the kind of "communication and support our customers will need to get through the year without jeopardizing their financial security" - e.g. invest for the long haul, don't time the market.

    Avoiding market timing is also part of the New Year's resolution of Robert Stovall, president of Stovall/Twenty-First Advisors, Inc., New York.

    In 1996, he had predicted the Dow Jones industrial average would hit "10,000 by 2000." Even though he thinks it may actually happen in 1999, he still has concerns about the overall market, and so has resolved to"buy on dips - or else you get left behind."

    Peter Stonberg, head of active U.S. equity strategies at State Street Global Advisors, Boston, said his 1999 resolution is to make sure institutional investors are aware of his firm's equity investment strategies.

    For example, the firm has "a very strong long-short market neutral product that has had double digit absolute returns over the last three years," said Mr. Stonberg, and he resolves to make people more aware of it.

    Rick Nelson, managing director and head of structured equity at J.P. Morgan & Co., New York, has resolved to "educate investors on the benefits of enhanced index funds." Morgan's enhanced index product "has done well in a more volatile market environment. It eliminates the losers of the S&P 500 and adds the winners," he said.

    He expects to "spend a fair amount of time (in 1999) speaking at conferences, talking about risk control," and explaining that enhanced index funds "have less risk than traditional active management."

    The resolution of Robert Gish, director of the $6.6 billion New Mexico Public Employees Retirement Association, might also fall under the "wish" category. "I want to find a provider of securities lending services who will prepare an accurate and detailed flow chart of the securities lending process from beginning to end on a step-by-step basis," he said.

    The New Mexico fund has been involved in securities lending for about three years "and I've heard a lot of explanations and haven't seen a meaningful chart yet," he said.

    "I want someone who will chart the process from beginning to end in a nice, clean, meaningful (way)," said Mr. Gish.

    Recommended for You
    Read the print edition of P&I
    Read the print edition of P&I
    How low is low? Projections say it's not low enough
    How low is low? Projections say it's not low enough
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    A Good Time for Trend Following
    Sponsored Content: A Good Time for Trend Following

    Reader Poll

    June 6, 2022
    SEE MORE POLLS >
    Sponsored
    White Papers
    Nearing the finish line: Ideas on end-state investing for corporate DB plans
    The Meaning of "Portfolio Intelligence"
    Credit Indices: Closing the Fixed Income Evolutionary Gap
    Forever in Style: Benchmarking with the Morningstar® Broad Style Indexes℠
    Crossroads: Politics, Inflation, & Bonds
    Is there a mid-cap gap in your DC plan?
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    June 20, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Consultants
      • Coronavirus
      • Courts
      • Defined Contribution
      • ESG
      • ETFs
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Opinion
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Russia-Ukraine War
      • SECURE Act 2.0
      • Special Reports
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
      • 2022 DC Investment Lineup Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2022 Retirement Income Conference
      • 2022 Managing Pension Risk & Liabilities
      • 2022 WorldPensionSummit