Ron Baron explains why he believes there are a lot of "positives" in the market now, reveals where he's putting his investors’ money to work, and provides his long-term outlook on the market.



About Risk: The value of investments in equity securities is subject to unpredictable declines in the value of individual securities and periods of below-average performance in individual securities and the equity market as a whole. Growth stocks are generally more sensitive to market movements than other types of stocks primarily because their stock prices are based heavily on future expectations. If our assessment of the prospects for a company’s growth is wrong, or if our judgment of how other investors will value the company’s growth is wrong, then the price of the company’s stock may fall or not appreciate as we expect. 

This interview is provided for informational purposes only and should not be construed an investment advice. Any opinions or forecasts contained herein reflect the subjective judgment of Ron Baron only. There can be no assurance that developments will transpire as forecasted and actual results may be different. Data and analysis does not represent the actual or expected future performance or any investment product.

As of 12/31/12, net realized and unrealized gain from ownership of Genesee & Wyoming securities: Baron Growth Fund – Unrealized Gain = $119,938,831, Realized Gain = 0; Baron Small Cap Fund – Unrealized Gain = $39,298,975, Realized Gain = $3,358,402; and Baron Focused Growth Fund – Unrealized Gain = $4,511,875, Realized Gain = $231,304.

As of December 31, 2012 the following Funds owned The Carlyle Group.
Fund Full Holdings
Baron Focused Growth Fund View
Baron Growth Fund View
Baron Partners Fund View
As of December 31, 2012 the following Funds owned Manchester United, plc.
Fund Full Holdings
Baron Focused Growth Fund View
Baron Growth Fund View
Baron Opportunity Fund View
As of December 31, 2012 the following Funds owned Generac Holdings, Inc.
Fund Full Holdings
Baron Growth Fund View
As of December 31, 2012 the following Funds owned Genesee & Wyoming
Fund Full Holdings
Baron Focused Growth Fund View
Baron Growth Fund View
Baron Small Cap Fund View
As of December 31, 2012 the following Funds owned ITC Holdings Corp.:
Fund Full Holdings
Baron Focused Growth Fund View
Baron Growth Fund View
Baron Partners Fund View
Baron Small Cap Fund View

As of December 31, 2012, the following Funds did not hold any of the companies mentioned:

Baron Asset Fund
Baron Emerging Markets Fund
Baron Energy and Resources Fund
Baron Fifth Avenue Growth Fund
Baron Global Advantage Fund
Baron International Growth Fund
Baron Real Estate Fund