Michael Baron on how his fund has gained 165 percent in the last year

With the stock market near record highs and up nearly 50 percent in the last 12 months, big gains aren't all that impressive. But Baron Partners Fund -- which gained 45 percent in 2019 and nearly 150 percent in 2020 -- has now racked up a 165 percent increase over the last 12 months, more than three times the return of the broad stock market and is the number one fund in its category in every time period from one year to 15 years. In an extended Big Interview, manager Michael Baron discusses how and why that has happened, what they're doing to avoid regressing to the mean in the future and gives his reaction to Morningtsr analysts downgrading the fund to a 'neutral' rating despite its long run of success. Also on the show, Tom Lydon of ETFTrends.com makes a bond fund with an interesting twist his ETF of the Week, and Jason Herried, director of equity strategies for Johnson Financial Group discusses mutual funds and exchange-traded funds in the Market Call.