A Strategy For A Turbulent Market

Rob Lamb's new fund sticks to themes and wins big

in overseas markets pushed Wall Street into a correction on Black Monday, October 29.

It may be Lamb’s rookie season, but already he’s shown the ice-water calm of a Wall Street veteran. A native of Seattle, Lamb earned a law degree from Harvard, and then worked in investment banking at several firms before launching Highland.

All that experience helps Lamb keep his focus even during turbulent times. “Our sights are on the long term, and, to be honest, I think most of our investors are there with us,” he told BLACK ENTERPRISE shortly after the market swoon had ended. “The day the market fell 7%, we didn’t see our investors panic. In fact, the only call we got when the market closed was a wrong number.”

Lamb’s record so far has earned the trust of his investors. Starting from Highland’s May 14 inception date, the fund, as of this writing (early November 1997), is up 14.7%. That’s ahead of the S&P 500, which posted a 13.4% gain in the same period, and well out in front of the Dow Jones Industrials, which rose only 6.3% during the same time span. Lamb’s numbers were impressive enough to catch the eye of Charles Schwab (800-4354000), which decided to include Highland in the roster of mutual funds it offers — an honor Lamb says is almost never bestowed upon a newcomer.

TAKING THE HIGH ROAD
Lamb’s fund in a nutshell

Name: Highland Growth Mutual Fund
Manager: Robert Lamb III
Phone: 888-557-3200
Sales Charge: None
Minimum Initial Investment: $1,000 ($500 for IRAs)

Top Five Holdings*

Company

Exchange: Symbol

Type of Business

Merck & Co.

NYSE: MRK

Pharmaceuticals
Oxford Health Plans

Nasdaq: OXHP

Managed healthcare
Cree Research

Nasdaq: CREE

Electronic devices
Corrections Corp of America

NYSE: CXC

For-profit prisons
Accustaff

NYSE: ASI

Outsourcing/employment agency
*As of 10/31/97PHOTO (COLOR): Lamb looks for the companies behind economic change
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