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"The Sears MasterCard business is a young portfolio, and its quality is unpredictable," said David Robertson, publisher of the Nilson Report, which tracks the industry.
Buffett is in no screaming need of young portfolio managers to carry the torch.
Andrew Foster is one young portfolio manager who has succeeded in the South Asian nation.
Fidelity Select funds tend to be used as a "training ground" for young portfolio managers and this offering is no exception.
It's in the hands of an unlikely triumvirate of an immigrant Russian programmer, a retired school superintendent and a young portfolio manager with all of one year's experience managing money before he came to the fund.
During the firm's recent fundraising for social investment networking and data analysis startup Openfolio's $1.8 million seed financing, the firm tapped a curated syndicate of limited partners and contacts among its network of high net worth individuals to back its young portfolio company.
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And some class A office property REITs, like Boston Properties (BXP), SL Green (SLG), and Vornado Realty Trust (VNO), who have relatively young portfolios in key gateway cities (like New York, L.A and San Francisco) potentially stand to benefit from much higher construction costs (steel prices are up over 50% in 2018) for new skyscraper construction (up to 200,000 tons of steel per building).
Ms. Terrana's new duties will include mentoring the company's younger portfolio managers.
It's a status thing, but it also puts them in a terrific position to help their younger portfolio companies.
Even though the firm is quite young, its portfolio has already had some hits: Bullpen's investments have included Assistly, which was acquired by Salesforce, and FlashSoft, which was acquired by SanDisk.
E-Trade recently rolled out its new Adaptive Portfolio aimed at young professionals just beginning to face the financial struggles of adulthood.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com