On a recent sunny morning in New York City, Ron Baron, founder, chairman, and chief executive officer of Baron Capital, is standing and studying Sixteen Jackies, a famous painting of Jackie Kennedy by Andy Warhol that Baron purchased through a dealer. The office walls are adorned with dozens of paintings by Warhol, Roy Lichtenstein, Jasper Johns, and other modern art masters. In Baron's corner office, Babe Ruth's 1920 contract and a 1940 letter written by Albert Einstein about the plight of Jews in Europe hang on the walls; President John F. Kennedy's rocking chair sits by a table. The view from the 48th floor of the General Motors Building on Fifth Avenue is spectacular: You can see all of Central Park, the Upper East and West sides of Manhattan, and both the Hudson and East rivers.
Baron, a multibillionaire, is one of the greatest growth-stock investors of all time, investing in companies with the potential to increase profits at a faster-than-average rate. During a time when relatively few actively managed funds can beat their respective index benchmarks (and more investors are gravitating to passive indexing), Baron's long-term approach to growth investing continues to shine.
As of the end of the first quarter, 15 of 17 funds, representing 98.5% of Baron Funds' $49 billion of assets under management, had beaten their index benchmarks since inception, several of them by an annualized five percentage points or more. Baron Growth is the top midsize-company growth fund since its inception in 1994; Baron Partners and Baron Focused Growth are the top performers among all mutual funds since their inceptions in the 1990s.
Esta historia es de la edición August 2022 de Kiplinger's Personal Finance.
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Esta historia es de la edición August 2022 de Kiplinger's Personal Finance.
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