Bill Kornitzer, CFA, is a Portfolio Manager who has been with Buffalo Funds for over 17 years and has 26 years of professional investment experience. Previously, Mr. Kornitzer worked at USAA in investment management, Ernst & Young in their Moscow office in corporate finance, and at Arthur Andersen in their valuation services department. At Buffalo Funds, Mr. Kornitzer works with equity portfolios, and his focus areas include technology, financial services, telecommunications, and food and beverage.
In this exclusive interview with the Wall Street Transcript, Bill Kornitzer describes his firm’s methodology and performance:
“For the Buffalo International Fund and for all the growth funds in the firm, we are really, what I would call, a fundamental growth shop. Ten years ago we would have been called GARP, or growth at a reasonable price. Today, our underlying philosophy is that we believe, over longer periods of time, stocks should continue to follow the underlying fundamentals of a company, including revenue growth, margins, earnings, growth in cash flow. We have a longer-term investment philosophy, so we go into an investment with a general understanding that we want to have a five-year performance time horizon for the investment. To help drive what we do, the firm has identified 26-plus secular growth trends that we use to identify companies that fall within our growth universe.
Buffalo Funds stays close to their midwestern roots:
“First thing to keep in mind is that we’re based in Kansas, what the coasties would call flyover country. We don’t have trading desks around the world, in Tokyo or Hong Kong or Frankfurt or London. We honestly do take a long-term approach to investing in the companies we own and buy in the fund. We’re very patient investors, and what we look to do is to use the noise of the market and the daily flows to find opportunities to give us attractive risk-adjusted returns…We’re not trying to out-trade anybody.”
Read the entire interview with Bill Kornitzer and get the full details in the Wall Street Transcript.
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