Fund managers with billions under management are often accused of ducking the large and courageous bets that can distinguish their portfolios from the market. But with more than 6% of his fund invested in British American Tobacco (LSE: BATS), that’s not a criticism you can level at Neil Woodford. Owain Bennallack explores the guru’s investment case behind the Footsie giant…
Why Is Neil Woodford So Bullish On British American Tobacco plc?
VIDEO: One Fool takes a closer look at British American Tobacco plc (LON:BATS).
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Published Owain is a magpie of the investing world -- and not because he gets into a flap. Almost any style of investing might suit him, depending on the bigger picture, and he's held all sorts of companies. Paraphrasing Keynes, he says: “When the market changes, I change my mind -- what do you do?”
That said, Owain is usually a buyer of equities, where he prefers lightly geared, modestly rated companies, and is increasingly on the lookout for Buffett-style intangible quality. He aspires to buy-and-hold: his best investment ideas are worth much more than he sold them for. Then again, his worst investment went bust due to management fraud!
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