Jim Owen On Professional Investment Managers by Mike Takano
Jim Owen is managing director of NWQ Investment Management Co. and author of The Prudent Investor, published by Probus Publishing Co. He is co-founder and executive vice president of the Investment Management Consultants Association (IMCA), a national organization representing investment management consultants, money managers, attorneys and certified public accountants who serve the middle market investor, or investors or institutions with accounts of $5 million to $100 million.
Q: Do you think the information pool or resources are out there for the private trader?
A: That's a good question. Unfortunately, so much of what you get from the brokerage firm is biased, written more to make a sale than to provide the consumer with unbiased information. There's no lack of information. If anything, we're all inundated with data. But where the individual investor can get unbiased information is, I think [the real problem].
Q: What is your idea of a diversifed portfolio — diversifying across industries or diversifying among the fnancial products such as options, bonds, commodities?
A: In our business, diversification usually means diversifying across several asset categories. That would include stocks, bonds, real estate, venture capital. That probably doesn't include some of the more exotic vehicles such as commodities and options. Those, to me, are more specialized areas.