What Cumberland’s Kotok Is Buying

Author: , Post Date: February 7, 2018
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Late last week, when stocks began selling off hard, David Kotok, the chairman and chief investment officer of $3 billion-asset Cumberland Advisors, was buying on the dip.

To be precise, he was adding two bank exchange-traded funds—Powershares KBW Bank Portfolio (KBWB) and SPDR S&P 500 Regional Bank (KRE)—to the ETF-based separately managed accounts he oversees.

And on Monday, in the midst of a nerve-wracking 1175-point sell-off in the Dow Jones Industrial Average, Kotok continued to buy, picking up shares of SPDR S&P 500 (SPY). “The time to be a buyer is when it’s really ugly,” he adds.

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