How Microsoft, PepsiCo and other solid plays helped this fund manager ride out a bumpy decade

After record-breaking Apple results, investors will look to Facebook, Tesla and a trove of other companies to bring in some upbeat earnings. We’ll also get the outcome of the Federal Reserve meeting, where markets are looking for steady policy and could use some calm demeanor from Chairman Jerome Powell.

Average annual total returns for the fund over 10 years are just over 13%, keeping pace with the S&P 500. He said the buy-and-hold fund has consistently sought companies with strong business models and a competitive advantage to keep free cash flow coming and ride out market-moving events. Think consumer staples, IT and health care, Schoenstein tells MarketWatch.

Schoenstein is braced for a tougher 2020, though. “We remain somewhat concerned about what’s happening in 2020,” he said, adding that for gains to continue, markets will need to see more support coming from “actual earnings and business performance.” The chart Our chart from Goldman Sachs shows which assets have been hardest hit by coronavirus concerns in recent days:

After the close, technology companies Microsoft MSFT, +1.05% and Facebook FB, +1.96%, electric-car maker Tesla TSLA, +0.93% and online payments group PayPal PYPL, -0.18% are due.Apple shares are up in premarket trading, though analysts seem mixed about how much more shares can deliver up. Semiconductor group AMD AMD, -8.18% shares are down on disappointing results and stock of online auctioneer eBay EBAY, -2.73% is slumping on a profit fall.

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