ReverseSignals

Ronald Muhlenkamp is the founder and president of Muhlenkamp & Company, Inc., and a portfolio manager for the company's self-named mutual fund (MUHLX). With stocks in his portfolio staying an average of ten years, Muhlenkamp is famous for his patient value investing style. He's a value guru who believes that in the long run stock prices reflect the value of the underlying businesses. When he's picking stocks he's looking for companies with solid balance sheets and a ROE of 15% or higher.  

Ronald Muhlenkamp graduated from MIT in 1966 with a B.Sc. degree in Engineering, and from the Harvard Business School in 1968 with an MBA. Additionally he holds a CFA designation. He and his wife Connie live on a farm near Pittsburgh but travel extensively to meet with clients across the country. 

Mr. Muhlenkamp's entire business career has been devoted to the professional management of investment portfolios. He's an award-winning investment manager, a frequent media guest, and a featured speaker in investment shows across the USA. His work since 1968 has been focused on extensive fundamental and technical studies of investment management philosophies, a result of which was the development of a proprietary method of evaluating equity and fixed income securities. Muhlenkamp is also the author of Ron's Road to Wealth: Insights for the Curious Investor.

David Dreman - a popular investor - is the founder and Chairman and Chief Investment Officer at Dreman Value Management. The investment company focuses on mutual funds, pension, foundation, endowment funds and high net-worth individuals.

Dreman was born in 1936 in Canada. He graduated from the University of Manitoba in 1958. After graduation he worked as Director of Research at Rauscher Pierce, Senior Investment Officer at Seligman, and Senior Editor of the Value Line Investment Service. In 1977 he founded his first investment firm - Dreman Value Management - and has served as its president and chairman ever since.

Dreman has published many scholarly articles, he writes a column for Forbes Magazine, and has written three books - Contrarian Investment Strategy: The Psychology of Stock Market Success (1980), The New Contrarian Investment Strategy (1982), and Contrarian Investment Strategies: The Next Generation (1998). Dreman was awarded a Doctor of Laws degree from the University of Manitoba in 1999 and is a member of the university's board of trustees.  August 2009: "We're in a market that will go much higher over the next 3 to 5 years."

Bill Miller is famous for being the only fund manager that has been able to outperform S&P500 for 15 years in a row. He is the Portfolio Manager at Legg Mason Value Trust (LMVTX) and since the beginning until 2008 his fund has earned 15.25% annual average total mutual fund returns. A buy-and-hold investor, Miller invests primarily by purchasing large-capitalization stocks at large discounts to his assessment of their intrinsic value. When valuing companies, Miller looks at the present value of future cash flows. He uses his multi-factor valuation analysis to buy securities priced by the market at significant discounts to their intrinsic value. He keeps his focus more on cash earnings rather than accounting-based valuation measures. 

In a CNBC interview from Oct 20, 2010 he comments that he'd be surprised if the market isn't 20% up within the next 12 months. When asked to compare the current situation with that in 1981 he says it is worse now. It is worse not only because we haven’t had 10 years of no return but also because we’ve had two recessions and the biggest financial collapse and that has shattered people's confidence. The public is not interested in lower prices, he continues, and the lower the prices get the less interested they will be. Miller advises that this is the best time to invest since the early 1980s: “The last 10 years have conditioned people to think short-term and tactically as opposed to long-term; everybody wanted to think long-term in 1999 and that was the wrong time to think long term because things were expensive; now things are cheap and it's time to go back to thinking long term. […] The demographics is an important part of where the market is going to go. [...] I think what you're looking at in the stock market over the next 10 years is real rates of return - somewhere between 6% and 10%. Every time you've had the market down on a ten year basis, the average rate of return has been 50% higher than the long-term historic rate of return.”