In search of value, fund stumbles upon utilities.(Street Wise)

Investment News,  June, 2004  

Tags: stock

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Byline: Jeff Benjamin Searching for value stocks in an overvalued market can lead a portfolio manager in all sorts of directions. For Tina Larsson, co-manager of the $140 million Kinetics Paradigm Fund (WWNPX), the market has driven her apologetically to the utilities sector. "We've got a lot of utilities right now, and it's an accident,'' she said.

"In normal circumstances, we're equity investors; we're not here to invest in a 6% dividend yield.'' With the price-earnings ratio of the Standard & Poor's 500 stock index now hovering at about 30, ...

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