Ken Heebner on the US economic recovery

I think the earnings surprises have been strong all throughout 2009 and I think they're going to be very big in 2010. Productivity is growing at record rates. Contrary to the negative views you're getting, the American economy is really shooting the lights out, under the circumstances it's confronted with. Inflation is low. When you look at all the key parts of the economy, retail sales are surprising to the upside, new home sales are picking up, I know some of the recent government numbers have gone the other way but the numbers I look at say things are getting stronger. Industrial production is growing at a good clip. The outlook is strong and getting stronger by the day!


~ Ken Heebner, portfolio manager, Capital Growth Management, CNBC, March 9th, 2010

Ken Heebner on Goldman Sachs

Goldman Sachs is one of the greatest corporations in the world. Their franchise has been strengthened by the disappearance of competitors. They earned at a $32-rate in the December quarter.

Here's a company that's going to grow strongly for the next couple years. It's going to earn over $25 next year. It's only 7x the minimum estimate and it's one of the greatest companies in the world.

~ Ken Heebner, portfolio manager, Capital Growth Management, CNBC, March 9, 2010

Ken Heebner on the stock market

I think it's a historic buying opportunity... The consumer is coming back. The consumer is going to be a strong supporter of this recovery.

~ Ken Heebner, as appeared on CNBC, April 15, 2010

Ken Heebner on the credit crunch

A year from now, credit will be available because of the government's actions.

~ Ken Heebner, "Heebner the Contrarian," The Wall Street Journal, December 6, 2008, by Diya Gullapalli

(About 40% of Heebner's $4.3 billion CGM Focus Fund was in financial stocks as of Sept. 30, according to its portfolio report.)

Ken Heebner when asked if the latest government actions were specifically designed to bail out Goldman Sachs and Morgan Stanley

I wouldn't use the words bail out. These are healthy companies. I'd call what the government did protection from short sellers.

They are bastions of financial strength. They have no problems with their balance sheets, and Morgan Stanley just reported a quarterly profit of more than $1 billion. Yet early in the day (of September 18), Morgan Stanley's stock got as low as $11.70.

~ Ken Heebner, as appeared on CNBC, September 18, 2008

Ken Heebner turns bullish on financial stocks

For now, at least, ace fund manager Ken Heebner has turned bullish on financial stocks. At the same time, Heebner, who has been running mutual funds for more than 30 years and is known for his uncanny ability to measure the pulse of the market, has dramatically pared back his funds' commitment to commodity-related stocks.

Heebner, who trades feverishly, says he now has more than 30% of the assets of his flagship CGM Focus fund in financials and only about 10% in commodity stocks. As of June 30, according to Morningstar, Focus (symbol CGMFX) had 86% of its assets in energy and industrial-materials stocks and nothing in financials.

Heebner revealed his moves on September 19, as stocks rallied furiously in response to an array of government actions designed to end a crisis in global financial markets.

~ Kiplinger.com, "Ken Heebner Is Bullish on Bank Stocks," October 3, 2008, by Manuel Shiffres