Patience has its virtues, if you are a PM.
That is one of the messages of an Los Angeles Times article
on the 44-year-old Milwaukee-based Nicholas Fund
], which has nearly $2 billion in assets.
The fund, managed by Ab Nicholas
since inception, has outperformed more than 90 percent of its peers this year, and over one-year, three-year and five-year spans, according to the newspaper. The paper notes that if you invested $10,000 in the fund when it opened, it would be worth $935,000 today.
A no-load product, it charges 75 basis points in management fees.
The paper notes that funds top holdings including specialty retailers like Walgreen Co.
,O'Reilly Automotive Inc.
and Signet Jewelers Ltd.
, which operates Kay and Jared stores in Southern California.
Patience, Nicholas is quoted as saying in the article, means profit.
"I always tell the guys working here that you can't make double or triple or quadruple your money unless you hold your stock," he tells the Los Angeles Times
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