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Montag's Ron Canakaris Sees Market Swinging To Growth.(SERIES: MUTUAL FUND MONTHLY)(IBD SPECIAL REPORT)(FUND MANAGER Q & A)
Byline: MURRAY COLEMAN
Ronald Canakaris started managing money amid a bear market.
That was in the early 1970s, just as the so-called Nifty Fifty bubble was beginning. Prices for top blue chips skyrocketed. By 1973, they caved. Canakaris watched as the S&P 500's total return fell 14.7% in 1973 and 26.5% the next year.
"That was a real good christening," said Canakaris, 61, with a laugh. "I learned a lot about the value of paying attention to when to buy and when to sell. That's the key."
As chief investment officer of Atlanta-based Montag & Caldwell, he oversees $24 billion in assets. The firm is a unit of Dutch-based banking giant ABN Amro.
Its flagship mutual fund is $2.9 billion ABN Amro/Montag & Caldwell Growth Fund.
The past 10 years ended April 30, it gained an average annual 9.76%, in the top 21% of its large-growth class tracked by Morningstar.
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