Paul W. Greenwell is a Principal of Luther King Capital Management — LKCM. He joined the firm in 1983 and serves as a portfolio manager and the retail analyst. Prior to joining LKCM, Mr. Greenwell was a Senior Vice President in charge of Trust Investments for Austin National Bank; Senior Vice President, InterFirst/Austin; Trust Investment Officer for Hibernia National Bank; and Senior Security Analyst/Trust Investment Officer for American Security & Trust Co.
Mr. Greenwell received a Bachelor of Science degree from the University of Missouri.
In this 3,213 word interview, exclusively in the Wall Street Transcript, the long term investor outlines his optimistic outlook on the US economy and the stock picks that result:
“I think there’s been a lot of skepticism largely related to the magnitude and the duration of the recovery from a stock market standpoint. From an economic standpoint, while there’s been pretty good growth over the last 10 years, really the acceleration has only come subsequent to the tax change.
And I think there is a natural built-in skepticism that, hey, this economic cycle has gone on too long, and we’re likely to see some pullback in that. Our view would be that these cycles don’t die just of old age. They typically need an event that may be not seen, such as a Federal Reserve monetary event that’s caused by the Federal Reserve becoming too restrictive.
…The problem comes in, of course, when there’s a bear market like the fourth quarter last year; human nature being what it is, the tendency is for many to say, “No, I don’t want to do this anymore,” and they don’t become interested until the market has already recovered and the news is better.
So what we encourage clients to do is to try to be an investor in excellent businesses for long periods. And when you have a diversified portfolio over long periods of time, that we believe works very well. And our clients have been well-rewarded for that.”
Read the rest of this 3,213 word stock market review from an experienced money manager, exclusively in the Wall Street Transcript.
Mark Travis of Intrepid Capital Management Buys Near Term Cash Flows for Long Term Value
July 02, 2017
Oil, Gas Sector to Benefit From Continued Infrastructure Needs
April 02, 2012
EMC (EMC) Exploits Growing Data Needs Through Industry’s Deepest, Broadest Portfolio
September 17, 2012
Cigna (CI) and Aetna (AET) Create, Acquire and Develop Businesses to Meet Growing Health Care Needs
October 26, 2012
Thoratic Corporation (THOR)’s Heart Devices Show Improved Survival for Patients; Market has Long-Term Opportunities
March 15, 2013
