Mike Lyons is founder and chief investment officer of Lyons Asset Management. He serves as the investment officer responsible for management of the Lyons Asset Management portfolios.
The Thema Lyons Fund USD Balanced Fund is not offered in Canada.
Total Assets: $8.4-million (U.S.).
One-year return: 11.83%
TOP FIVE HOLDINGS
A. Schulman Inc.2.6%
Furniture Brands Int.2.6%
Kaman Corp. 2.6%
Sears Holdings Corp. 2.6%
Furniture Brands Intl.
(FBN-NYSE) $12.50 (U.S.)
Confident and fully expecting a positive period in the future for this industry, Mr. Lyons says "the valuation is compelling and with the eventual strengthening in the sector, the chesterfield is here to stay."
Whole Foods Market (WFMI- Nasdaq) $39.46
The world's largest purveyor of natural foods, Whole Foods Markets is trading at a multiple of 1x sales and with only 200 stores in existence, Mr. Lyons says "there is so much more growth still to come".
A. Schulman Inc. (SHLM-Nasdaq) $24.86
Schulman Inc. purchases plastic resins and other materials that they sell directly or are used by other companies for manufacturing. Mr. Lyons says "it's statistically attractive," and trading at 40 per cent of revenues, he likes the valuation and sees forward momentum from here.
Today's economic backdrop is reasonable-to-strong and valuations, on an overall basis, are within range of fair value. Mr. Lyons believes large-capitalization stocks are more fully valued than mid-cap stocks and thus the stock market averages may begin to slow their rate of ascent. Mr. Lyon's outlook remains optimistic, saying "positive returns are anticipated".
Maureen Darrigo, BNN
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