Magazine article Black Enterprise

Green Pastures: Isaac Green's Picks Proved to Be Fertile Ground for Investors

Magazine article Black Enterprise

Green Pastures: Isaac Green's Picks Proved to Be Fertile Ground for Investors

Article excerpt

The words "core equity and fixed income" are melodic to Isaac H. Green, president and CEO of Piedmont Investment Advisors L.L.C. in Durham, North Carolina, which has $1.3 billion in assets under management. The portfolio of stocks that Green recommended to BLACK ENTERPRISE (see "Smooth Sailing," April 2006), generated a total return of 14.8% over the 52-week period ended Jan. 25. This surpassed the 12.6% return of the S&P 500 over the same period. But it's worth noting that the portfolio was largely weighed down by one stock that happened to reflect the political ups and downs of the last year.

Green says his riskiest choice was Apple Inc. (AAPL). "It proved itself to be risky because after we put it on the list [at $74.20] it dropped all the way to $50; yet it yielded [one] of the highest returns," says the 20-year investment expert. In the end, shares of the Cupertino, California-based icon were up 16.2% to $8625. "They own the portable music sector," he says, "and the iPhone's introduction shows they have raised the bar again."

Surpassing Green's target of $28, AT&T Inc. (T) leapt 52.7%, from $24.10 to $36.79. Formed in 2005 when SBC Communications acquired AT&T (the combined company retained the AT&T name), it has established itself as a major player in broadband services. AT&T went on to buy BellSouth, which Green describes as an important strategic acquisition that makes the company a significant player in local and long distance and which gives AT&T full ownership of Cingular--one of the dominant wireless companies.

On the downside, shares of Houston-based Halliburton Co. (HAL) slid 19.2%. "The whole oil sector was challenging," says Green. Oil prices peaked in July 2006 at $78 a barrel and are now near $50. As an oil services provider, Halliburton isn't very sensitive to oil prices, he says, but "the whole group went down, and it went down in sympathy with the group. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.