14Feb/110
A cautious bull bets on banks
Tom Marsico seems awfully agitated for a guy who's bullish on the U.S. economy. Get him started on entitlements or tax policy, and the 56-year-old Marsico can sound more like a Tea Party candidate than one of the most successful money managers of the past 25 years. Since 1997 his Marsico Focus fund has returned an average 6.6% annually, vs. 3.8% for the S&P 500. A self-described moderate, Marsico fears that the wrong moves in Washington could endanger fragile recoveries in the stock market and the economy. But he's still finding plenty of stocks to buy at attractive prices. The chairman of Denver-based Marsico Capital Management, which oversees $51 billion, explained why he still likes Apple and why he's betting on banks.
