The Dana Viewpoint
December 2011 – The Three Scrooges
Media Appearances
Interested in our take? Read below. Media inquiries: call 800-765-0157
Where to invest in 2012
With stocks expected to rebound, opportunity abounds for investors.
Stock indices ended 2011 just as they started the year: Markets, across the board, were flat. The S&P 500 rose just 2.7 percent, compared with 15 percent in the previous year. Meanwhile, the Dow Jones Industrial Average rose just 5.5 percent in 2011—better than the S&P, but well below its 11 percent gain in 2010.
But there’s a bright side to this underperformance. According to the Stock Trader’s Almanac, since 1930, each year that the S&P had a flat year, it rebounded 13 percent in the following year. – David Francis – US News
Duane Roberts – Dana Director of Equities interviews with the Wall Street Transcript
9/2011 – Wall Street Transcript
Dana Director of Equities Duane Roberts talks with the Wall Street Transcript discussing Sector Neutral, Relative Value Investing.
“The Dana Large Cap Core strategy is our flagship equity product, and on an institutional separate account basis, started in June of 1999. We’ve added additional equity products, but Large Core remains our largest and longest-tenured product. The mutual fund version of that product began in March of 2010. It’s essentially the same target portfolio, and is managed using the exact same process used for our separate accounts. The mutual fund gets traded a little more frequently because of cash flows. But without cash flows, it would be treated just like any other institutional account.”
Municipal market copes with thin new issuance
Dana portfolio manager Brian Lehky discusses conditions in the municipal market.
“Brian Lehky, portfolio manager at Dana Investment Advisors, said his firm does most of its buying in the secondary because “from our perspective, the new-issue market is a little expensive.” The secondary offers more spread and allows the firm to be opportunistic in various sectors, capturing inefficiencies that present themselves from day to day, he said.”
European debt concerns in conflict with strong corporate earnings
Dana CIO Joe Veranth comments on earnings strength during Q2 earnings season.
“It’s a sigh of relief,” said Joseph Veranth, chief investment officer at Dana Investment Advisors in Brookfield, Wisconsin, which manages $3.3 billion. “Progress on Europe’s debt situation is allowing the market to remain at these levels. All of the other satellite countries are looking to see how the EU settles the debt situation in Greece because it has ramifications for the European banks. It’s the framework for a package and the markets have reacted positively.”
Mark Mirsberger – Dana CEO recognized as Five Star Wealth Manager in Milwaukee Magazine
Dana CEO Mark Mirsberger.
“Dana helps clients achieve their goals through integrity, diligence and dedication to our disciplined investment strategies.”
Service sector growth slows in April
Dana CIO Joe Veranth comments on recent weakness in a service sector data point.
“It was weak and a little bit of a disappointment for the market. Japan may have been a factor, even though that took place in March. We’ve got a fairly large two-month dip. Based on the GDP number in the first-quarter, this reflects a little bit of a speed bump in the recovery. Japan is part of the problem.”
Firm sees investments in chemicals companies pay big returns
Dana CIO Joe Veranth talks about an attractively valued materials sector holding with pricing power.
“They’ve tried to concentrate on sectors where they can somewhat control input costs but have pricing flexibility, or where they control a large enough portion of the market they can raise prices,” he said.
Dana Investment Advisors Announces Rebranding of Mutual Fund
“Dana Investment Advisors, Inc. is pleased to announce the Epiphany Large Cap Core Equity fund it sub-advises is being renamed effective today the Dana Large Cap Core Fund (symbol EPCNX).”
U.S. Stocks Drop as Oil’s Jump Overshadows Manufacturing Growth
Dana CIO, Joe Veranth, comments on the Fed’s inflation outlook.
“Bernanke’s reiterating that the Fed’s going to stay on the path they’re on,” said Joseph Veranth, chief investment officer at Dana Investment Advisors in Brookfield, Wisconsin, which manages $2.8 billion. “That leaves room for inflation concerns to continue to worry the market.”
Stocks Climb on Takeovers, Faster Global Growth as U.S. Treasuries Retreat
Dana CIO, Joe Veranth, comments on increased M&A volume.
“More and more people and companies see the economic recovery as sustainable,” said Joseph Veranth, chief investment officer at Dana Investment Advisors in Brookfield, Wisconsin, which manages $2.8 billion. “It’s no surprise that there are so many M&A deals going on. Earnings have been good and that’s indication that companies will have more cash” to fund deals.
Fed action Creates Investment Opportunities
Members of Dana’s Investment Team discuss the potential for inflation and a possible beneficiary.
“If you’ve got a Fed that wants inflation and they get it partially through a weaker dollar, then materials companies typically benefit,” said (Joe) Veranth, chief investment officer at the Brookfield firm.
Managers get in position to rise with natural gas prices
Dana equity portfolio managers remark on plummeting natural gas prices and ways for investors to position for a possible rebound.
“We can’t predict when it’s going to turn, but we know with pretty good certainty that people have stopped drilling. And if the economy gets better, you’re going from a headwind to a tailwind,” (Greg) Dahlman said.
Dow rises 5.8% in best day of ’09
Joe Veranth discusses a reason for optimism in an otherwise depressed market.
“It’s too soon to tell if it’s the actual turn yet, and that’s what you have to be careful about – and you have to be especially careful in the banking area,” said Joseph Veranth, chief investment officer at Dana Investment Advisors Inc. in Brookfield. “But if you’re thinking of buying a broad market index, it’s a good sign.”
