This top fund manager worries a financial transaction tax would destroy the quant business model

Most fund managers look at price-to-earnings multiples when deciding whether a stock is cheap or expensive. However, one fund manager argues that that philosophy just doesn't work. Robert Zuccaro of the Golden Eagle Growth Fund said the two keys to picking stocks are profit growth and new highs in their stock price rather than P/E multiples.

Q2 2020 hedge fund letters, conferences and more

Background of the Golden Eagle Growth Fund

Zuccaro's fund has $34 million in assets under management, and it's a quant fund. The fund came in existence after the Democratic primaries one year ago because one of the proposals was to tax securities transactions at the rate of...