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3/02/2009 Alternatives to Bestinver
Until this year, in which one has begun to him to put in prohibition, in Spain Francisco has considered itself to Bestinver and especially to its Director of Investments Garci'a Paramés like “great guru� of the investment in investment funds. Nevertheless, this past 2008, their results have not been like in previous occasions, but it has undergone important falls, just as the majority of the rest of managers of institutions of collective investment. We did not consider that, since has been able to read, Paramés is lost its star, nor that no longer has that “special� eye to choose investments. He is more, we are convinced than its process of investment has been, is and will be court favorite, but who as the rest of humans has seen its investment affected by:
- A year 2008 in which the evolution of the markets been has not prevailed by the rationality. Good and bad companies have undergone strong falls. In addition the liquidity crisis has affected the companies of different way having turned, good businesses, in dangerous businesses.
- Some error in the election of the portfolio of the investment funds.
And it is that when somebody chooses a bottom of active management, in which the manager does not invest according to the index of reference but according to its opinions and analysis, is subject to errors in that analysis. To which we talked about is that what we must also look for is a diversification between this type of managers to palliate situations like the one of this year.
Analyzing multitude of alternatives we have found some alternatives as it could be to buy titles of Berkshire Hathaway, the Holding company of Warrent Buffet, but one is not a investment fund and less enrolled in the CNMV. Under our point of view, the form of the shoe of Bestinver mainly at international level and that makes shade to its Bestinver the International since other alternative products to Bestinver do not exist Stock market (only Spanish rent variable) is Socgen International Sicav A. is a investment fund managed by Jean Marie Eveillard, historical manager of of investment funds following the style value of analysis of companies. If we see the comparative one of both bottoms, besides undergoing a fall much smaller east 2008, the investments of both bottoms do not look like, they do not have the same “ideas of investment� reason why we will be able to diversify between managers as it can be appraised in which the obtained yield every year between each product is very different (to invest in 5 bottoms of international rent variable which they follow the MSCI World does not contribute diversification because inside is the same and they behave equal).
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