Montgomery View, page-4

I think it is fair to say that any fund manager worth his salt, and having somewhat of a media profile, will not be articulating, in public, what he or she is really thinking.

In my experience, when fund managers wax lyrical about stocks they own, it means they are fully set and, if anything, are probably on a sell tack.

But what professional investors are almost certainly not doing, when they sing the praises of a stock, is buying that stock.

Otherwise they would effectively be inviting the broader public to compete with them in doing so.

And that would be a pretty un-commercial thing to do.