Robert Maltbie of Millennium Maltbie’s Minute on the Market

Investment Opinion: Robert M Maltbie, Managing Partner of Millennium Asset Management, Announced Release of Millennium’s “Under covered Small Cap Values opportunity report for 2015”

LOS ANGELES–(BUSINESS WIRE)– Robert Maltbie, Managing Partner of Millennium Asset Management, announced the release of Millennium’s Under covered Small Cap Values opportunity report for 2015, “Each year we canvass analysts for their most under covered new ideas as a means of continuing to add value for our clients. [Read more…]

Robert Maltbie, Jr. Portfolio Manager for Locorr Investment Trust

Robert Maltbie, Jr. is a Portfolio Manager for Locorr Investment Trust – LoCorr Long/Short Equity Fund, an open-ended equity mutual fund launched and managed by LoCorr Fund Management, LLC. The fund is co-managed by Millennium Asset Management and Billings Capital Management. The Locorr Investment Trust takes both long and short positions to invest in public equity markets across the globe. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in value stocks of companies across all market capitalizations. The fund employs fundamental analysis with a bottom-up stock picking approach to create its portfolio and was formed on May 13, 2013 in the United States.


Robert Maltbie Interviewed by Barron’s

2 Unloved Stocks to Buy And 3 To Dump (or Short)

Millennium Asset’s Robert Maltbie likes to buy hidden gems and bet against overhyped growth stocks.

Robert Maltbie began his career as a retail stockbroker for Dean Witter and quickly learned that there was more to job than understanding the nuances of buy and hold ratings. He saw firsthand the inevitable conflicts of interest posed by investment banking, and came to recognize the steep odds against individual investors. [Read more…]

Robert Maltbie, Jr., Managing Director and Portfolio Manager

Robert Maltbie, Jr., is a Managing Director and Portfolio Manager of Millennium Asset Management, an investment advisory firm, that manages client portfolios and manages The Argonaut Fund, a small-cap equity fund. He is also Chairman and CEO of Singular Research, Inc., which provides research reports on publicly-traded companies.Robert began his career as an investment adviser withMorgan Stanley Dean Witter in 1988 and later joined Spear Financial in 1992 where he created and managed its equity research department. In 1994 Robert joined Salomon Smith Barney in Beverly Hills, California where he managed growth portfolios for private and institutional clients.

Robert graduated from UCLA with a Bachelor of Arts degree in Political Science in 1981. He has also earned the Chartered Financial Analyst designation and is a member of the Association for Investment Management and Research.

Robert Maltbie Interviewed by USA Today

S&P 500 flirts with new high; Dow can’t keep up

Matt Krantz, USA TODAY


The Standard & Poor’s 500 made another run at new highs Friday, but the Dow is struggling to bring up the rear.

An early-day rally pushed the S&P 500 into all-time record ground briefly, toppling the former high notched two weeks ago. The good feelings didn’t last — a late-day sell-off knocked the S&P 500 down 6 points to close at 1866.

The Dow has lagged the S&P 500 for more than a year, and remains 1.6% away from its high set at the end of last year. The difference speaks about what’s moving the market now.

“The Dow has a very low representation of things moving the market, like . . . Netflix, social media stocks, solar stocks and biotech,” says Robert Maltbie of Millennium Asset Management. “There’s (low) exposure to that” in the Dow.

The Dow’s underperformance isn’t new. The S&P 500 is up more than 20% over the past 12 months, easily topping the 13% gain of the Dow during the same period. But savvy investors are looking at the differential to yield clues about where the market is headed, including:

•The rise of new leadership. A new crop of relatively young companies and industries helps the S&P 500 more than the Dow, Maltbie says. Facebook, which is up big-time, is just one example of a stock that’s in the S&P 500 and not in the Dow. Shares of the No. 1 social networking company are up 23% this year. Meanwhile, the Dow is heavily weighted toward older companies that are lagging, such as IBM. Nearly 100 S&P 500 stocks are up 10% or more this year, says Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

•The biotech boom. One of the biggest boons for markets this year is biotech, an industry to which the Dow has relatively low exposure. Despite a big sell-off Friday on worries the government might look at biotech drug pricing, biotech darling Biogen Idec is up 14% this year. Health-care stocks, including biotech, are up 5.2% this year, Silverblatt says. The S&P 500 benefits more from this since health care accounts for 13.4% of the index, versus just 10.3% of the Dow, Silverblatt says.

•The rotation into financials. Movement into financial stocks gives a slight edge to the S&P 500 over the Dow, says Chris Johnson of JK Investment Group. Investors not chasing high flyers like biotech are moving into the safety of financial stocks. Financial stocks are up 2.6% this year. That again gives the S&P 500 an edge since financials account for 16.5%, vs. a 15.9% weighting in the Dow.

All these reasons explain why the Dow is down 1.6% this year while the S&P 500 is up 1%. Investors will need to decide if the Dow’s divergence from the S&P 500 is a sign of over-bullishness or a trend that stays in place. “It’s a process where the market can show some weakness,” Johnson says.