Crime Does, In Fact, Pay
Jamie Cuellar is a portfolio manager at Brazos Mutual Funds on Sherry Lane; I know, exciting, right? Only, yeah -- at least Forbes thinks so in its new issue. That's because Cuellar has seen the future of investing -- and it's in the joint, bro. Which is to say, Cuellar is investing heavily in the private prisons being constructed to alleviate the country's overcrowded state and federal houses of incarceration: "His $32 million Brazos Small Cap Fund has put 11% of its capital into the jailers' stocks," writes the magazine.
Thus far, his two largest holdings are Geo Group --"a company to be reckoned with," as it added 15 prisons and 8,000 beds since 2005 -- and Corrections Corp. of America, the largest private prison operator. "It controls half the private market and is the only pure play on adult prisons," writes the magazine, which notes that Cuellar started buying the stock in November 2005 when it was $13 a share -- or $14 less than it is today. --Robert Wilonsky
Get the Weekly Newsletter
Our weekly feature stories, movie reviews, calendar picks and more - minus the newsprint and sent directly to your inbox.
- Check Out the Raw Video From Wednesday's Low-Speed Chase
- Giving Dallas Police Body Cameras Is the Easy Part
- District 10 Candidate Adam McGough Lines Up Against the Trinity Road