"The best way to make money is not to lose money," says Sentry Diversified Total Return fund manager Andrew McCreath.
His $351-million fund won a Lipper award in the Canadian-focused equity category for three-year performance to Oct. 31, 2010. The fund, which can invest up to 50 per cent in foreign stocks, posted an average annual return of 4.9 per cent, compared with a 1.7 per cent loss for the S&P/TSX Total Return Index.
How did he do it? Mr. McCreath took questions in a live discussion. Thanks to everyone who sent in questions.
Readers using mobile phones should read the discussion by following this link.
Andrew McCreath's portfolio tends to be diversified across sectors. "I am not a big bet guy," he said, noting that the biggest weighting now is in Apple Inc. at 4 per cent of assets. Read more about Andrew McCreath in a story: Making money means not losing it .
Mr. McCreath cut his fund's cash position to 25 per cent last fall after he became moderately bullish on North American stock markets because of improving U.S. economic data and the $1.5-trillion (U.S) in additional fiscal and monetary stimulus.
Mr. McCreath, who has an MBA in economics from York University, joined Sentry after selling his hedge-fund firm, Waterfall Investments, to Sentry in 2008. His eclectic background includes being a portfolio manager and founding shareholder of fund company Synergy Asset Management Inc., which was acquired by CI Financial Corp. in 2003. Other highlights include being a sell-side stock analyst and even a rock band promoter.