Once Pitkowsky screens for growth and quality, he looks at valuation. Right now his portfolio has a forward price-to-earnings multiple of 13x to 14x, which is well below theratio that the market is trading at. Having that standard stops Pitkowsky from getting sucked into stocks that might be considered great businesses but are bad investments.
Other factors that Pitkowsky strongly considers are the company's competitive advantages, management teams, and if they're betting on themselves by buying back shares.When Pitkowsky finds stocks that match that description, he's not shy about loading up on them. Nearly two-thirds of his fund's assets are allocated to his"I think you need to be picky," Pitkowsky said."We are not trying to own 200 things — we are trying to have a concentrated portfolio.
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