Is Stock Picking an Investment Relic of the Past
Sal Muoio, SM Investors, in conversation with Ignatius Chithelen, Banyan Tree Capital
Sal Muoio, CFA, manager SM Investors, in conversation with Ignatius Chithelen, CFA, manager Banyan Tree Capital
Date: Tuesday April 28, 2026. Time: 6 pm to 8 pm.
Host: Huron Consulting 1166 Sixth Avenue, 3rd Floor at 45 Street.
Since 2000, investors, both institutional and individual, have shifted to holding exchange-traded funds, The ETFs enable the passive purchase of baskets of stocks and other securities, including those based on indexes. Assets held in ETFs total more than $19 trillion, recently driven by enthusiasm for Nvidia and the other magnificent seven large technology stocks. Meanwhile, assets managed by active portfolio managers, who pick stocks, has fallen behind, currently around $16 trillion. A major reason is that most active managers have not performed as well as the comparable passive index ETFs.
Most Wall Street gurus expect ETFs to continue to displace active stock picking. So, is researching and buying stocks finished as an investment strategy? Value investors say that finding good, cheap stocks is still the best way to earn above-average returns.
These and related issues will be discussed by value investors Salvatore Muoio in conversation with Ignatius Chithelen. Sal founded SM Investors in 1997. Earlier, he was at Lazard Frères as a Director of Equity Research. From 1985 to 1995, Sal was at Gabelli Funds, including as a Director of Research for GAMCO Investors, and as Portfolio Manager for the Gabelli Global Telecommunications Fund. A CFA, Sal earned an MBA from Notre Dame. Ignatius Chithelen founded Banyan Tree Capital in 2000. Earlier he was an analyst, portfolio manager and vice president at First Eagle (SoGen) Funds. A CFA, he earned an MPhil in Economics from CDS, India.
Date: Tuesday April 28, 2026. Time: 6 pm to 8 pm.
Host: Huron Consulting 1166 Sixth Avenue, 3rd Floor at 45 Street.
From Business Strategy to Creative Writing
Speaker: Cliff Schorer, faculty Columbia Business School
Details to come