Cash Flush Wally Weitz Value Fund Is Ready to PounceVW Staff
Cash is no longer a four-letter word for some mutual fund managers, especially as stocks continue marching to new highs and bargains become few and far between. But few funds are as fond of the green stuff as Weitz Value (WVALX). At the end of the first quarter, the fund had nearly 30% of its $1.2 billion in assets in cash.
Why so much? One word: discipline. “Fear of missing out in up markets can lead to an erosion of price discipline,” says co-manager David Perkins. “We’re trying to be prepared for the emergence of more . . .
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