Right story, right price

摘要

Riad Younes and Richard Pell took very different paths to becoming fund managers with Switzerland's Bank Julius Baer: Younes earned degrees in electrical engineering; Pell hustled as a professional poker player. "For me, it was all about probabilities and making bets," says Pell, the chief investment officer. "I figured I could make a lot more money taking bets on stocks." So far, he's played his cards right for shareholders - even in a bear market. Pell and Younes manage $1.5 billion in inter- national stocks in Julius Baer's New York office. Their $820 million International Equity Fund is one of the best performing funds in its sector, with annualized returns for the past five years of 14%; the benchmark MSCI EAFE Index is off 1%. This year Pell and Younes' fund is up 8.5%; the benchmark is down 11%.