Media Coverage

Bloomberg Podcast “What Goes Up” with Buffalo Small Cap Fund PM Jamie Cuellar

November 9, 2020


Buffalo Funds Small Cap co-portfolio manager Jamie Cuellar, CFA, recently appeared on the Bloomberg podcast “What Goes Up”. Hosts Mike Regan and Sarah Ponczek are joined each week by expert guests to discuss the main themes influencing global markets.

Many investors, like most Americans, have been fixated on the political drama of this year’s presidential election. But when it comes to picking stocks, Jamie Cuellar has kept his eye on the longer term. Cuellar joins the latest episode of the “What Goes Up” podcast to discuss the election, his fund’s strategy, and why small companies are still an opportunity for active fund managers to show their value in a climate that’s more and more dominated by passive and smart-beta strategies.

During the call, Jamie goes in-depth on small-cap investing as an asset class, growth vs value, the intersection of politics and the markets going post-election, and the ongoing effects of the COVID-19 pandemic on the markets.

How we manage money has very little to do with who’s in the White House. The way we invest with our process really depends on the underlying long-term trends that we see impacting the companies we invest in. That’s not going to change regardless of who’s in the White House or how much controversy there is in politics going on at the time.

~ Jamie Cuellar, CFA, Co-Portfolio Manager, Buffalo Small Cap Fund


Jamie Cuellar, CFA
Portfolio Manager
28 Years of Experience
 View full bio

Listen to Jamie's appearance

Opinions expressed are those of the author or Funds as of 11/6/20 and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice. References to other mutual funds should not to be considered an offer to buy or sell these securities. A full listing of the Buffalo Small Cap Fund portfolio holdings can be found here. Past performance does not guarantee future results. Earnings growth is not representative of the Fund’s future performance. The Russell 2000 Index is an unmanaged index that consists of the smallest 2,000 securities in the Russell 3000 Index, representing approximately 10% of the Russell 3000 total market capitalization. The Russell 2000 Growth Index is an unmanaged index that measures the performance of those Russell 2000 Index companies with higher price-to-book ratios and higher forecasted growth values. The S&P 500 is a capitalization weighted index of 500 large capitalization stocks which is designed to measure broad domestic securities markets. Nasdaq refers to the Nasdaq Composite, an index of more than 3,000 stocks listed on the Nasdaq exchange. It is not possible to invest directly in an index. Morningstar Rankings represent a fund’s total-return percentile rank relative to all funds that have the same Morningstar Category. The highest percentile rank is 1 and the lowest is 100. It is based on Morningstar total return, which includes both income and capital gains or losses and is not adjusted for sales charges or redemption fees. Past performance does not guarantee future results. As of 10/31/20 the Buffalo Small Cap Fund (BUFSX) was ranked in the 15%, 12%, and 24% for the 3, 5, and 10 year time periods out of 573, 509, and 383 funds in the Small Growth Category, respectively. Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. A beta of 1 indicates that the security’s price moves with the market. A beta of less than 1 means that the security is theoretically less volatile than the market. A beta of greater than 1 indicates that the security’s price is theoretically more volatile than the market.

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