Barron's Interview Emmanuel Ferreira
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Date updated:11-15-2008

Oppenheimer Quest Opportunity Vale Fund (QVOPX), which Ferreira has managed since the start of 2005, was down 23.5% this year through Nov. 12. But that's well ahead of the battered broad market. It puts the fund in the top 8% of its moderate-allocation category in the span, and it's been within the top 6% over the past one- (minus 21.1%), three- (minus 1.35%) and five- (2.34) year periods through Nov. 12, according to mutual-fund tracker Morningstar. And while the majority of stock-fund managers have lagged behind their benchmarks for the year, Quest Opportunity has swamped its bogey, the S&P 500, which was down 32.8% through Nov. 12. (Moderate-allocation funds can move among different assets but typically keep 50% to 70% in equities.)

symbol name last price % change open
  • +
  • GOOG
    Google Inc.
  • $551.10
  • +0.45%
  • $547.72

With short rates now so low, Ferreira has begun to use the cash to buy cheap stocks. When Google 's (GOOG) stock price fell below 350 from a December 2007 high of 724.80, Ferreira increased Quest Opportunity's exposure from less than a quarter of a percent to 2.14%.

People owning GOOG also tend to own: AAPLAMDCSCODELLIBMINTCMSFT

TheStreet.com Rating: B What is this?

  • +
  • GOOG
    Google Inc.
  • $551.10
  • +0.45%
  • $547.72

With short rates now so low, Ferreira has begun to use the cash to buy cheap stocks. When Google 's (GOOG) stock price fell below 350 from a December 2007 high of 724.80, Ferreira increased Quest Opportunity's exposure from less than a quarter of a percent to 2.14%.

People owning GOOG also tend to own: AAPLAMDCSCODELLIBMINTCMSFT

TheStreet.com Rating: B What is this?

  • +
  • RIMM
    Research In Motio
  • $58.72
  • +1.61%
  • $57.44

He also made the fund's first commitment to BlackBerry maker Research In Motion and wireless-telecom giant Qualcomm at steep discounts from their highs. Ferreira notes that all three companies are attractive because "they don't have debt, they have significant cash [and] growing end markets, and they are trading at very cheap valuations." At time of purchase, Google was trading at 14 times forward earnings, RIM at 9 and Qualcomm at 11.

People owning RIMM also tend to own: ACIWADMADSAZPNCERNCKFRCREE

TheStreet.com Rating: B- What is this?

  • +
  • QCOM
    Qualcomm Incorpor
  • $43.90
  • +0.11%
  • $43.54

He also made the fund's first commitment to BlackBerry maker Research In Motion and wireless-telecom giant Qualcomm at steep discounts from their highs. Ferreira notes that all three companies are attractive because "they don't have debt, they have significant cash [and] growing end markets, and they are trading at very cheap valuations." At time of purchase, Google was trading at 14 times forward earnings, RIM at 9 and Qualcomm at 11.

People owning QCOM also tend to own: AAAAPLADBEBAMDVYGEHON

TheStreet.com Rating: B What is this?

  • +
  • TTWO
    Take-two Interact
  • $11.41
  • -0.09%
  • $11.30

Ferreira recently raised his holdings to 6.13%. "Management has only been in place for six quarters," Ferreira says, "and it has been able to build up in excess of $4 per share in cash, it has a pristine balance sheet, and it has generated $2 in earnings [from operations] in the first three quarters of this year, up significantly from last year." Take-Two is best known for its hugely popular Grand Theft Auto game. While Take-Two management was criticized for not accepting a recent bid from rival Electronic Arts, "we applaud the decision," Ferreira says. The offer was too conditional to succeed, but would have given EA a chance to "look under the hood" of Take-Two's development projects, he says.

People owning TTWO also tend to own: ABTAETAIXDBCEBEASBZCCU

TheStreet.com Rating: D+ What is this?

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