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AF/CG Mark Casey is a Fan of Cryptos - WSJ

yogibearbullyogibearbull
edited 10:26AM in Fund Discussions
AF/CG Mark Casey is a Fan of Cryptos - WSJ

Mark Casey (54), a comanager of several American Funds (AF)/Capital Group (CG) is a fan of cryptos and a devotee of Warren Buffett - seem contradictory.

Recall that AF/CG funds have multiple managers (including some analyst-managers) who are responsible for running their sleeves. So, no one manager has a huge effect on funds.

AF/CG is also a class champion with some funds having 3+ dozen classes.

Back to Mark - he is involved with OEFs ABALX, AGTHX, ANCFX, AWSHX, etc (only A classes are mentioned here) and ETFs CGGG, CGGR. He likes companies that hold cryptos in their corporate treasuries (MSTR, MARA, MTPLF, etc). IMO, this is an expensive but an under-the-radar way for crypto exposure (so, your OEF/ETF may be playing with cryptos already). These are now called crypto-treasury companies, a new hot category.

Capital Group holds 5.21% of MSTR outstanding - that's 2nd to Vanguard, but Vanguard is more than twice bigger than AF/CG.

Mark only likes Bitcoin, not other cryptos.

BTW, Franklin/BEN CEO Jenny Johnson is also crypto-crazy.

WSJ (subscription) https://www.wsj.com/finance/investing/this-buffett-devotee-is-plowing-billions-into-crypto-13dbba17

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